First IPO in 2010: Intercapital raises money for a fund to invest in Fondul Proprietatea

Intercapital Investment Management, controlled by brokerage Intercapital Invest, is seeking to raise cash from the Stock Exchange for a closed-end fund that will invest exclusively in Fondul Proprietatea (Property Fund) shares and in listed financial shares. This will be the first initial public offering (IPO) conducted on the Stock Exchange this year. Last year the only IPOs were conducted by another two closed-end investment funds, OTP Wise Ro and OTP Green Energy, both managed by OTP Asset Management, which together raised around 4 million euros from Stock Exchange investors. Both offerings were brokered by Intercapital Invest.