Romania’s SIF Transilvania shares banned from trading for another two weeks

The shares will stop being traded starting November 10. CNVM’s decision prolongs the transfer of the 546 million worth of SIF Transilvania shares.

The shares of SIF Transilvania were first blocked from trading on July 21. On July 3, a court agreed to suspend a share capital increase and announced it will hand down a verdict in the fall.

Cocor, one of the shareholders of SIF Transilvania, asked the court in the Transylvanian city of Brasov to suspend the fund’s capital increase, saying that the fund’s board decision on April 27 to double share capital was made without the required quorum.

SIF Transilvania is one of the country’s five investment funds known as SIFs, listed at the first tier of the Bucharest Stock Exchange and among the most liquid stocks on the market.