With assets worth above 2.5bn euros and stakes in the mostimportant energy firms in the economy, Fondul Proprietatea(Property Fund) is taking a major step toward floatation on theBucharest Stock Exchange by launching the broker selectionprocedure. The broker's main task will be to draw up the Fundadmission to trading prospect, with the operation to be carried outdirectly, without a public stock offering.
Brokerages and banks' brokerage arms can submit offers by August13. Interested parties can file an offering on their own behalf ortie up in a consortium. The acquisition contract will be awarded onthe basis of the "technically and economically best offer"criterion. Firms interested in FP listing include BT Securities andIntercapital Invest, among the most powerful Romanian-heldbrokerages on the domestic market. "We're interested in handlingthe Fund's listing. However, given the size of the domestic capitalmarket, the low liquidity and the small number of listings, Iexpect many brokers to come up with a zero fee, with the popularityand publicity they'll gain should they win the contract as the mainbenefit. Normally, the value of such a contract would amount to40-50,000 euros," said Rare[ Nila[, BT Securities generalmanager.
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