Verestoy has 20m-RON worth of shares in Fondul Proprietatea

Senator Attila Verestoy of UDMR (Democratic Union of Hungarians in Romania), one of the richest MPs in Romania, has this year bought 41.2 million shares in Fondul Proprietatea, the hottest business of the moment, which generated significant interest from local and foreign investors alike.

The stake amounts to 0.28% of the fund's capital, according to the senator's wealth statement. He bought the shares at the beginning of the year, after selling his stakes in Rompetrol Rafinare (Property Fund - RRC) and Rompetrol Well Services (PTR) in the tender offers conducted by the Kazakh-held KazMunaiGaz.
Verestoy did not specify what the value of the initial investment was, but the shares he holds are worth around 20 million RON at present, at the price of 0.49-0.5 RON thrown around the market. He has also recently collected net dividends worth over 2.8 million RON 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, holds 16.6 million shares in the Fund, worth over 8 million RON.
Senator Verestoy Attila is now seeking to make profit from the stock exchange floatation of Fondul Proprietatea, after managing to come out on the winning side of major events that have marked the capital market over the past few years - the raising of the SIFs stake cap, the floatation of Transgaz and the tender offer at Rompetrol Rafinare.