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Private Proprietatea Fund shareholders increase their stakes to 32.6%

The number of private shareholders of the Proprietatea Fund grew by 186 since the beginning of March and their stake hiked by 0.89 percent, according to the data published today by the institution.

The last report of March 16 counted 2,164 private shareholders and their stake stood at 31.72 percent of the fund's share capital. At the end of March the shares were divided among 41 companies owning over 762.41 million shares, the equivalent of 5.35 percent of the capital and 2,309 individuals owning 27.26 percent. The Finance Ministry was still the main shareholder with 67.39 percent of the shares.

The Fund was created in 2005 to pay back former landowners deprived of their possessions during the communist regime. The Fund has participations in 88 companies, most of them in the power field.

The process of selecting an administrator having been initialized, the Fund drew on January 22 eight administration offers from Aviva Investors Global Services, BlackRock, Credit Suisse & OTP, FINAG Holding Gmbh, Franklin Templeton Investments, ING Invest Management, Morgan Stanley and Julius Baer.

The selection process was suspended for 34 days to set up the future organization plan with the government and the capital market watchdog CNVM.

The Fund has a share capital of 14.24 billion lei, divided among 14.24 billion shares at a face value of 1 leu.

The net profit is to decrease this year by 55 percent, to 212.45 million lei, from last year's 467.7 million lei, as the revenues from interests increases and those from dividend drops.

 

Sursa: http://www.newsin.ro

Tags: percent private their shareholders ing otp

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