Transgaz managers subscribe 21m euros for the offering

The managers of Medias-based Transgaz had over 21 million euros available to subscribe in the initial public offering of company shares, and received shares worth a total of 550,000 euros after the share allotment, according to reports sent to the Stock Exchange. Three of Transgaz’s managers subscribed on the large investor tranche, where the offering was oversubscribed almost 39 times. The investors which subscribed on this tranche received only 2.56% of the shares subscribed. The company’s general manager, Ioan Rusu was allocated 2,508 shares worth 137,000 euros. This would put his subscription shares on the large tranche at around 5.38 million euros. “It was normal for Transgaz managers to subscribe in the offering, because everywhere we went, we were asked by potential investors if they would take part, which indicates our trust in the company. “Part of the sum necessary for the subscription comes from my savings and for the rest, I have used the legal financial solutions available to any investor,” Ioan Rusu told ZF.