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Frankling Templeton intends to list Proprietatea Fund on the Stock Exchange in 2010

U.S. investment company Franklin Templeton Investment Management Ltd intends to list Proprietatea Fund (PF) on the stock exchange this year, Chairman Mark Mobius made the announcement, on the occasion of his opening on Thursday of the Bucharest Stock Exchange (BVB) trading session.

'If we start on July 1, I hope to be ready with the listing until September,' said Mobius. He also specified that it would be a double listing of the Proprietatea Fund, in Bucharest and in London, but not simultaneously on both stock exchanges. Mark Mobius also added that when the PF will be listed in London, there would be need of a capital increase and of new stocks being issues. On the other hand, in his opinion, investors are currently perceiving Romania better than Greece.

'Romania's public debt is very small. People are now making the difference between Romania and Greece. I don't think that Greece represents a threat to Romania, with the MFP (i.e. the Ministry of Public Finance) making a very good job here,' said the representative of the Proprietatea Fund.

Franklin Templeton became the manager of the Proprietatea Fund a month ago, when the administration agreement was signed.

One of the largest international financial companies at the global level, Franklin Templeton manages over 30 billion dollars on the emerging markets, with a team of 39 portfolio managers, analysts and specialists, working in 15 offices located worldwide.

The company already represents a strong presence in Central and Eastern Europe, with active branches in Moscow, Warsaw, Budapest, Vienna, Istanbul and Bucharest.

Proprietatea Fund is managed by a team established in Romania and led by Dr. Mark Mobius - who is a recognized authority in the field of investments in emerging markets, with an experience of over 30 years in management of securities and institutional and professional investments across the globe.

Founded in 2005, aimed at compensating private properties abusively confiscated by the communist regime, the Proprietatea Fund is a closed investment fund, with an asset value of approximately 2.4 billion euro.

Sursa: http://www.actmedia.eu

Tags: proprietatea templeton exchange stock euro bvb mfp

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