Senator Attila Verestoy of UDMR (Democratic Union of Hungariansin Romania), one of the richest MPs in Romania, has this yearbought 41.2 million shares in Fondul Proprietatea, the hottestbusiness of the moment, which generated significant interest fromlocal and foreign investors alike.
The stake amounts to 0.28% of the fund's capital, according tothe senator's wealth statement. He bought the shares at thebeginning of the year, after selling his stakes in RompetrolRafinare (Property Fund - RRC) and Rompetrol Well Services (PTR) inthe tender offers conducted by the Kazakh-held KazMunaiGaz.
Verestoy did not specify what the value of the initial investmentwas, but the shares he holds are worth around 20 million RON atpresent, at the price of 0.49-0.5 RON thrown around the market. Hehas also recently collected net dividends worth over 2.8 millionRON from the Fund.
Fondul Proprietatea is one of the biggest stakes at the moment,acting as a magnet for powerful investors on the capital market,some of them with tight political connections. Ionu] Popescu,former general manager of the Fund and former PD-L senator, holds16.6 million shares in the Fund, worth over 8 million RON.
Senator Verestoy Attila is now seeking to make profit from thestock exchange floatation of Fondul Proprietatea, after managing tocome out on the winning side of major events that have marked thecapital market over the past few years - the raising of the SIFsstake cap, the floatation of Transgaz and the tender offer atRompetrol Rafinare.
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