Romania’s Proprietatea Fund could be listed in December this year, official says

The official noted the listing of the fund will be possible only if the companies involved in this operation will offer their full support. Negut explained six companies offered their services as consultants, so far. Three of them are international players.

A manager of the fund estabilshed in 2005 will be assigned in the fall, Negut noted.

Proprietatea Fund has a share capital of 14.24 billion lei. The state wants to list the investment fund on the Bucharest Stock Exchange and on an international stock exchange.

The former owners cannot valorize the shares received as damages before the fund is listed on the Bucharest Stock Exchange. However they can choose to cash 500,000 lei of the total sum and wait for the fund to be listed in order to trade their shares on the capital market.

More than 3,000 individuals were registered as shareholders in November this year. The value of the shares stands for 11.3 percent of the fund’s share capital.

Sursa: NewsIn