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Transactions with Property Fund shares can be recorded until December 21st

The Central Depository has informed investors it registers the transactions with Property Fund (FP) shares only until December 21, invoking a National Securities Commission (CNVM) document stipulating that the transactions with FP shares will be made by observing the capital market legislation once FP shares will be registered as securities, through the issue of the relevant Securities Registration Certificate (CIVM), Bursa daily announces.

Lorand Kralik, commissioner of the National Securities Commission (CNVM) told Bursa daily that as of the issue of CIVM, the Property Fund would observe all capital market rules: 'On December 22 at the latest, CIMV will be issued, after which we will immediately announce the Central Depository and the trading of shares will be stopped. Once CIVM is issued, the Fund will observe all capital market regulations.'

However, the conversion of property deeds issued by the National Authority for Property Restitution (ANRP) into shares will be done until January 15, according to the regulations stipulating these operations will cease 10 days before the listing of the Fund.

Rumors about the possibility for CNVM to issue such a certificate have circulated since as early as the start of this week, but they estimated that December 15 will be the last day when transactions with FP shares are possible, Bursa daily writes.

Thus, trading in FP shares has increased in recent days, with many investors rushing to the Central Depository (the institution that registers the transfer of ownership - the editor's note), say the sources quoted by the daily, who did not want to reveal their identity.

FP shareholders approved, in September's General Assembly, the listing of FP on the Bucharest Stock Exchange and the London Stock Exchange. At the end of last month, Franklin Templeton representatives announced the listing schedule of the Fund, estimating that it will be listed on the Stock Exchange on January 25.

Sursa: http://www.agerpres.ro

Tags: shares december until transactions property

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