The investment fund currently owns a 17.36 percent share package in Flamingo International, up from the 15.25 percent it owned at the end of May. Since May 31, the fund purchased shares worth €4.28 mln and selling shares worth €2.87 mln. Following these transactions, QVT Fund earned €1.4 mln. Meanwhile, the stock quotation rose 1.29 percent. Given that the fund owns 135.3 mln shares, its earnings amount to €700,000.
The value of Flamingo shares rose 0.26 percent yesterday, up to €0.115. At this quotation, the stock owned by QVT in Flamingo was worth €15.65 mln.
The largest transaction was on August 8, when QVT purchased 27 mln shares for €3.3 mln, at a price of €0.112 per share. QVT previously owned 10 percent of pharmaceutical producer Zentiva (former Sicomed, listed on the Bucharest’s stock exchange) and 10.77 percent in insurance company Asirom.
Foreign investment funds are increasingly interested in the Romanian market. The latest foreign institution to invest in the local capital market is Morgan Stanley, which acquired 6 percent of real estate company Imotrust Arad, later reducing its participation to 5 percent. Another foreign fund with significant investments in Romania is Julius Baer, with placements exceeding €370 mln by the end of July, 45 percent higher than the beginning of 2007.
