The investors that around one month ago subscribed in the lPO ofiFond investment fund, which invests half of its money in FondulProprietatea (Property Fund - FP) stock, could sell their sharesyesterday, on the first trading day, at a 9 to 17% profit, withprices climbing at one moment to 236 RON, compared with the 202 RONone paid in the offer.
iFond is among the few Bucharest Stock Exchange listings of thepast three years that has brought gains to investors, with mostreaching a price below the one paid in the IPOs on the firsttrading day.
"Whereas around one month ago there were several risks related toiFond because of exposure to FP stock, these have dwindled in themeantime. At that time, the appointment of Franklin Templeton asthe manager of the fund had not materialised. Dividend awards bythe fund were uncertain, now they are a certainty," says AdrianLupşan, a deputy general manager of Intercapital Invest.
Răzvan Paşol, general manager of Intercapital Invest, says suchoperations will be carried out much more rapidly in the futurebecause both capital market authorities and brokerages operating inthis field will gain experience.
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