Foreign institutional investors hold 51% of Romanias Property Fund.

By bne IntelliNews October 5, 2012
Institutional investors increased their participation in Romania's restitution fund known as the Property Fund (Fondul Proprietatea) in September, while individual investors kept selling its shares, news agency Mediafax reported, quoting various sources among which a Fund's press release. Foreign institutional investors increased their participation by 0.27pps on the month to 50.91%, while domestic institutional investors held 9.44%, up 0.1pps on the month. Elliot Associates' share reached 15.33% after the purchase of a 0.93% stake for RON 68mn (EUR 15.1mn) in September. It further bought another 0.61% stake for RON 44.1mn (EUR 9.7mn) in October. The second largest institutional investor is the City of London, with a 9.43% stake at the end of September, which includes its 4.18% stake and warrants issued by RBS accounting for 5.25% of the Property Fund. The Property Fund shares traded at RON 0.5-0.55 in the past days, closing at RON 0.52 on Thursday, Oct 4, when its capitalisation stood at around EUR 1.6bn. The fund's net asset value per share was, however, RON 0.94 at the end of August, as calculated by its fund manager Templeton.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Romania to spend EUR 37mn in 2013 to close down loss-making coal mines.

Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more

Romanias Hidroelectrica sells nearly 0.3TWh of electricity on free market.

Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more

Romania to start privatisation of cargo railway company on April 6-8.

The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  4. Don't mention the "D" word - Ukraine
    4 days ago
  5. UBN: The US Needs to Wake Up
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss