* "Deal" trades with shares of the Proprietatea Fund have raised the liquidity of the BSE to levels which have never been seen in almost two years
The frequent trades negotiated with the "star" stocks listed on the BSE, noticed lately, show that some investors are rethinking their strategy, some analysts consider.
Over the last few months, "deal" trades involving the shares of the Proprietatea Fund happened almost every week, transfers which help lift the low turnover of the BSE.
The average of the daily trades on the Bucharest Stock Exchange has climbed somewhat, when the negotiated deals with 3.8% of the Proprietatea Fund took turnover to 308.5 million lei (68.3 million Euros), the maximum of the last 21 months.
The three deals involving shares of the Proprietatea Fund amounted to 282.1 million lei (62.5 million Euros). The trades were made at prices ranging between 0.53 lei and 0.529 lei.
The sellers and the buyers of the transferred deals were not yet reported, but analysts have suggested several scenarios.
* One possibility: the parties involved are investment funds, perhaps managed by the same company
Considering the rather large block of shares which was traded, Marcel Murgoci, director of operations at "Estinvest" Focşani, thinks there are two possible scenarios: - the parties involved are investment funds which are possibly managed by the same asset management company or - the seller is a foreign investment fund which wanted to sell its stake so it can make its exit from the Romanian market, with the buyer being a domestic fund.
"Let's also not forget the other trades on the DEAL market, which could be connected with one of the parties involved in the Deal with the Proprietatea Fund", Marcel Murgoci also said.
* Shares in exchange for warrants, another possibility
Other brokers consider that the ope