about us | newsletter | contact | archive | members area
COSMIN COSTEA, DELOITTE DIGITAL
With a reasonable amount of money an insurer can start with a platform that gathers all »
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Fondul Proprietatea to be listed on London Stock Exchange specialist market

Administrator of the Fondul Proprietatea (FP) sovereign fund, US company Franklin Templeton, suggests the secondary listing of FP on the specialist market for closed-end investment funds of the London Stock Exchange after they examined several options, the Warsaw Stock Exchange and the New York Stock Exchange among them, FP manager Greg Konieczny said last week.

2014-03-10 12:43:28

The listing on the London Stock Exchange will be a technical one and no new shares will be issued. The reference listing price will be the one of the Bucharest Stock Exchange, said Konieczny. The main aim of the listing in London is an increase in the base of investors that might be interested in the fund. FP will be more visible internationally and its coverage will increase in the analysis reports.

422 investment funds are listed on the London Stock Exchange and FP will be listed on the market devoted to closed-end funds, where it will be the largest fund. Of the 422 funds, FP will be fourth by capitalisation and first by the value of the net assets.

The first 20 funds listed on the London Stock Exchange have a total value of USD 18 billion owned by foreign investors.

At the fund's founr year celebration on Bucharest Stock Exchange this year, Greg Konieczny, Fund Manager of Fondul Proprietatea, added in Novemver 2013: "In order to generate value for our shareholders, we will continue to implement corporate actions designed to further reduce the discount and increase the Fund′s NAV. We will start the third buy-back programme this year and will propose to shareholders in the near future a new plan for the secondary listing of the Fund, which should attract additional interest and demand for the shares and further raise the visibility of the Fund and increase the coverage of Romania among a broader international investor base. We expect that 2014 will be another exciting year in terms of privatizations, as we expect to see some major companies in our portfolio being listed on the stock exchange. This should have the two-fold advantage of making our portfolio more liquid and transparent, in addition to supporting the development of the capital market."



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  1499 Views
Daily Info
Sibiu and Timisoara, top priorities for investors in Romania

Sibiu and Timisoara are top priorities for investors who are interested to come to Romania, as revealed by the fifth edition of Cities of Tomorrow conference, organized by the...

Gas prices liberalization in Romania to start in April

The Minister of Energy announced that the prices for domestic gas will go through a liberalization process starting April 1, with no technical reasons to postpone it, as Minis...

Toyota recalls 2.9 million vehicles globally over airbags issues

Toyota Motor Corp said it was recalling a total of about 2.9 million vehicles in Japan, China, Oceania and other regions including its Corolla Axio sedan and RAV4 SUV crossove...

Romania to develop economic component of the strategic partnership with US

Prime Minister Sorin Grindeanu and the Cabinet members had a meeting with the members of the fifth annual economic mission in Romania of the American-Romanian Business Council...

Debate on digital economy at Cluj Innovation Days 2017

About 40 specialists in various domains of digital economy debate its future at Cluj Innovation Days 2017. For two days, on March 30 and 31, the regional forum will be the epi...

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

More on News
Energy Performance Contracting for public buildings

The Romanian Association for Promoting Energy Efficiency (ARPEE), established in 2012, has as overall scope the mobilization of its members’ resources and competences to ...

Dragnea: There is no risk of PSD getting destabilized

Leader of the Social Democratic Party (PSD) Liviu Dragnea told a private broadcaster on Sunday that there is no risk of his party getting destabilised as he and the incumbe...

MEP Negrescu to Farage: Romania does not take lessons in fairness from man investigated for corruption

Member of the European Parliament Victor Negrescu conveyed in an open letter addressed to Nigel Farage, that the former leader of the UK Independence Party (UKIP) should no...

European Commission: The fight against corruption in Romania needs to be advanced, not undone

A joint statement of president Juncker and first vice-president Timmermans from the European Commission, on the fight against corruption in Romania, shows that "the fight a...

President Iohannis: Romania's foreign and security policy will remain on same essential coordinates

Romania's foreign and security policy will remain on the same essential coordinates as until now, in the context in which our country must keep its regional position of sta...

Romania to develop economic component of the strategic partnership with US

Prime Minister Sorin Grindeanu and the Cabinet members had a meeting with the members of the fifth annual economic mission in Romania of the American-Romanian Business Coun...

Justice minister: GEO drafts on criminal legislation will be in accordance with observations and consultation

The draft emergency ordinances regarding pardon and the amendments of the Criminal Code and the Criminal Procedure Code will be in accordance with the observations and the ...