Intercapital Investment Management, Intercapital's management division, will list a closed-end investment fund on the Stock Exchange for the first time, iFond Financial Romania, whose assets will be 50% made up of shares of Fondul Proprietatea (Property Fund) at first, with the other half being financial sector shares.
The listing of the Fund is the most awaited event of the last few years on the Romanian capital market, and those wishing to take advantage of the moment will be able to do so through iFond.
"We may witness a succession of favourable events for Fondul Proprietatea 6-9 months from now: Templeton's officially taking over at the helm of the fund, the distribution of dividends, and perhaps the most awaited event, the fund's Stock Exchange listing, all having a positive impact on the Fund's shares," says Adrian Lupsan, deputy general manager of Intercapital Invest, which holds 99% of the shares of the company that manages iFond Financial.
This is the first IPO on the Stock Exchange this year, with such operations being very rare on the Romanian market.
Intercapital Investment Management, Intercapital's management division, will list a closed-end investment fund on the Stock Exchange for the first time, iFond Financial Romania, whose assets will be 50% made up of shares of Fondul Proprietatea (Property Fund) at first, with the other half being financial sector shares.
The listing of the Fund is the most awaited event of the last few years on the Romanian capital market, and those wishing to take advantage of the moment will be able to do so through iFond.
"We may witness a succession of favourable events for Fondul Proprietatea 6-9 months from now: Templeton's officially taking over at the helm of the fund, the distribution of dividends, and perhaps the most awaited event, the fund's Stock Exchange listing, all having a pos
