Officials of Franklin Templeton, whichmanages over 3 billion-euro assets of Fondul Proprietatea, havepledged to do everything they can to see that the price at whichProprietatea will be traded on the Bucharest Stock Exchange is ashigh as possible, and are considering using the option of buyingback Fund shares.
On the Fund's Stock Exchange trading price depend the damagesdue to thousands of former owners who received shares in the Fundin compensation, as well as the profits of hundreds of speculatorswho bought shares in the fund prior to its listing at pricessignificantly below the nominal value.
"The estimated date of the Fund's listing on the Bucharest StockExchange is January 25th. We will do everything in our power to seeto it that the Stock Exchange price of Proprietatea shares is ashigh as possible, but we must not lose sight of the fact that thestock exchange value of the share will also be influenced by thecontext of the Romanian economy and by Government decisions. If theshare is too cheap, we will consider the possibility of the Fundbuying back shares," said Greg Konieczny, portfolio manager atFranklin Templeton. He did not provide details on what "too cheapan FP share" means. Fondul Proprietatea has received itsshareholders' approval to buy back shares accounting for up to 10%of the 13.77 billion-RON capital. Currently, on the unofficialmarket, the price of a share is less than 0.5 RON.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
