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Septimiu Stoica : It is difficult and unlikely the Fond Proprietatea be listed in 2009

The listing of Fond Proprietatea in 2009 is difficult and unlikely, after the selection commission postponed the nomination of an administrator for the Fond, the chairman of the stock exchange for commodities Septimiu Stoica said. The representatives of the Fond Proprietatea estimated, at the end of 2008 that the Fond will be listed on BVB the latest in September 2009, while Sebastian Vladescu, former chairman of the commission for the selection of FP administrator stated that " the fond will have an administrator by March 2009".

The selection commission suspended last week the selection of the Fond administrator until March 4 2009. During this period, the commission will establish with the government all tasks and details of the contract to be signed with the fond administrator.

Tradings with Fond proprietatea shares have been frozen since November -December 2008 and there are no buyers to offer over 10-15% of the nominal value of a Fond share, dealers on the market said.

On February 11 the first phase of the selection process had to be closed, with only five competitors on the short list. For the next period, the selection commission will have discussions with each of the eight possible administrators who presented bids.

On January 22 there were presented eight bids for the administration of Fond Proprietatea from Aviva investors Global Services, BlackRock, Credit Suissse@OTP, FINAG Holding Gmbh, Franklin Templeton Investments, ING Invest Management, Morgan Stanley and Julius Baer.

 

Sursa: http://www.actmedia.eu

Tags: proprietatea commission administrator selection ing bvb otp

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