iFond starts trading on BSE after one month with a 11% gain for investors

The investors that around one month ago subscribed in the lPO of iFond investment fund, which invests half of its money in Fondul Proprietatea (Property Fund - FP) stock, could sell their shares yesterday, on the first trading day, at a 9 to 17% profit, with prices climbing at one moment to 236 RON, compared with the 202 RON one paid in the offer.

iFond is among the few Bucharest Stock Exchange listings of the past three years that has brought gains to investors, with most reaching a price below the one paid in the IPOs on the first trading day.
"Whereas around one month ago there were several risks related to iFond because of exposure to FP stock, these have dwindled in the meantime. At that time, the appointment of Franklin Templeton as the manager of the fund had not materialised. Dividend awards by the fund were uncertain, now they are a certainty," says Adrian Lupşan, a deputy general manager of Intercapital Invest.
Răzvan Paşol, general manager of Intercapital Invest, says such operations will be carried out much more rapidly in the future because both capital market authorities and brokerages operating in this field will gain experience.