about us | newsletter | contact | archive | members area
Mirela Iordan, Pfizer Romania
"We expect policy measures aimed at increasing the health status of the population to be»
  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  |  1603 Views
Daily Info
Bonds of Globalworth will start trading on Bucharest Stock Exchange on July 31

Bucharest Stock Exchange (BVB) informs that the bonds of Globalworth will start trading on the main market on July 31, 2017, and are defined by the following: 5,500 bonds, nom...

OTP Bank Romania to take over Banca Romaneasca from National Bank of Greece

The National Bank of Greece signed an agreement with OTP Bank Romania on the sale of its equity holding of 99.28 per cent in Banca Romaneasca. The transaction involves the sha...

The healthcare system must be a priority, FIC says

Health is now a priority for Romanian authorities and the total spending on healthcare has grown significantly over the last four years (although it is still the lowest propor...

CET Govora reached 30 million RON profit in H1 2017

Heat and electricity producer CET Govora registered a net profit of 30.6 million RON in the first six months of 2017, compared to a net loss of five million RON in the same pe...

E van Wijk agrees new lease at P3 Bucharest park

Pan-European logistics property investor-developer P3 has signed a deal with Logistic E van Wijk, provider of integrated transport and logistics services, to lease 10,180 sqm ...

 
 
   
advertising

advertising

advertising

advertising

More on News
Over 19,000 business plans submitted for Start-Up Nation program

Start-Up Nation Government program attracted over 19,000 business plans and a new edition will take place next year, said Ilan Laufer, Minister for the Business Environment...

President Iohannis to hold political consultation to designate future PM

Parliamentary parties are invited today to the Cotroceni Presidential Palace for consultations with President Klaus Iohannis over the designation of the future prime minist...

Sorin Grindeanu hails the support for CVM lifting before 2019

Prime Minister Sorin Grindeanu met at Victoria Palace with the European Commission President Jean-Claude Juncker. The meeting was also attended by the Public Finance Minist...

PM Sorin Grindeanu: 5.7 per cent economic growth - confirmation that the measures taken by the Government are the right

The 5.7 percent economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, an evolution which exceeds the expectations of analysts a...

Romanian ruling coalition plans tax overhaul ahead of key parliament vote

Romania's ruling Social Democrats unveiled plans on Thursday to overhaul taxation from 2018, ditching a flat 16 per cent tax on income and profit that has attracted investm...

Business Lease posts four million Euro turnover in the first semester of 2017

Business Lease, international company providing complete mobility solutions through Operational Leasing, Car Fleet Management and Rental in Romania, closes its first semest...

Chinese delegation seeks investment opportunities in Romania

Prime Minister Mihai Tudose discussed at the Victoria Governmental Palace on Thursday about the opportunities to invest in Romania with an official delegation of the People...