Brokerage firm Equity Invest in Bucharest, in which former economy minister Adriean Videanu holds 24%, brokered transactions worth 55.7 million lei (13 million euros), climbing to the 13th position of the brokers' ranking, with the company brokering average transactions worth 2 million euros monthly last year.
The listing of Fondul Proprietatea (FP) on January 25, saw big stakes change hands and changed the usual ranking of brokers, with brokerage firms fighting over big clients by lowering fees significantly. Transactions with FP shares amounted to 550 million lei (130 million euros) in January, accounting for over 56% of the overall Stock Exchange transfers.
The company's management says the firm mainly brokered FP shares last month.
"Yes, we preponderantly traded Fondul Proprietatea shares. The transactions were conducted by individual clients who sold through us after we cut fees significantly," explained Gabriel Gheorghe, general manager of Equity Invest.
The other shareholders of Equity Invest are Raul Doicescu, owner of Bog'Art construction company, Sida Ionescu, wife of former FPS (State Property Fund) director Gheorghe 'Bebe' Ionescu, and Tiberiu Bică-Postelnicu, former partner of billionaire Ioan Niculae in Asirom, each with 24% of the shares.
Videanu, currently first vice-president of PDL, is one of the politicians whose names are connected to Fondul Proprietatea.
Videanu does not hold shares in Fondul Proprietatea in his own name, according to his personal financial disclosure statement submitted in September, when he ended his term as a minister. He could not be contacted for comment.
Even after he resigned from his position as economy minister, Videanu retained his influence in the FP.
Brokerage firm Equity Invest in Bucharest, in which former economy minister Adriean Videanu holds 24%, brokered trans
