Over 5% of the capital of Fondul Proprietatea (Property Fund) has changed hands in December, the last month ahead of the Stock Exchange flotation, when the state surrendered around 2.6% of its own stake to former owners, while private shareholders traded another 2.6% of the capital, taking advantage of the last few days of grey market. Thus, 400 new shareholders caught the last train to Fondul Proprietatea, strengthening the presence of foreign funds in the shareholder structure. The Board of the Bucharest Stock Exchange (BSE) yesterday approved the admission to trading of Fondul Proprietatea shares in the first tier of the regulated market, and has set January 25th as the first day of trading.
Less than a month ahead of flotation of Fondul Proprietatea, the Finance Ministry has reduced its stake to 38.8%, according to data released by the Fund, while the number of private shareholders climbed to over 5,300, who hold over 61% of the shares.
Trading of Fondul Proprietatea shares through the Central Depository was suspended on December 22nd, when the shares of the fund were registered as securities in view of Stock Exchange flotation. However, modifications in the shareholder structure are still possible, given that the National Agency for Property Restitution (ANRP) can still convert compensation certificates into FP shares.
Last year over 21% of Fondul Proprietatea shares went from the Finance Ministry to holders of compensation claims, some of them being former owners, while others are speculators who bought compensation claims from those who were entitled to file such claims.
Over 5% of the capital of Fondul Proprietatea (Property Fund) has changed hands in December, the last month ahead of the Stock Exchange flotation, when the state surrendered around 2.6% of its own stake to former owners, while private shareholders traded another 2.6% o
