Romania Raises US$520mn In IPO
News: Romania has sold a 15% stake in Romgaz, the country's state-owned gas producer, Rigzone reports. The initial public offering has raised RON1.7bn (US$520mn) and was heavily oversubscribed and there are plans for more listings in the coming months. The IPO was part of plans with the International Monetary Fund about wider privatisation plans. Sixty per cent of the shares sold went to foreign institutional investors.