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Proprietatea Fund to be traded on Bucharest Stock Exchange as of Jan. 25, 2011

The National Securities Commission (CNVM) on Wednesday issued the Registration Certificate for Proprietatea Fund (PF) and approved the amendment to the floatation prospectus; trading with PF shares on the Bucharest Stock Exchange (BVB) is scheduled to start on January 25, 2011, informs a release of the Fund's trustee Franklin Templeton Investment Management.

Last week, the regulatory authority approved the PF listing prospectus.

In preparing the listing, Proprietatea Fund worked together with a broker consortium - Raiffeisen Capital Investments S.A., BRD Groupe Societe Generale, ING Bank NV Amsterdam Bucharest branch - and legal advisors Schoenherr and Associates SCA, White & Case, Pachiu SCA.

Before floating the fund, the investment manager and sole trustee together with the brokers will organize a series of national and international road shows, to promote the Proprietatea Fund among investors.

CNVM also approved the amendment to the prospectus referring to the updating of the status of certain litigations and the analysis of the net assets value calculated in accordance with CNVM standards.

Launched in December 2005, the Proprietatea Fund was set up in order to compensate Romanian citizens whose properties were seized by the former communist regime (1945-1989). Following an international bid announced in December 2008, Franklin Templeton won in July 2009 the EUR 3.4 billion worth of PF mandate; it was selected from seven global asset management companies. Franklin Templeton officially took over the role as investment manager and sole trustee of the Fund on September 29, 2010. Starting with its official appointment, Franklin Templeton took action to pay dividends distributed for the years 2008 and 2009 to all the shareholders registered by September 27, 2010.

Franklin Templeton Investment Management Limited is a subsidiary of Franklin Resources, a global investment management organization that operates under the name of Franklin Templeton Investments. Franklin Templeton Investments is a provider of global and local investment management solutions for the resources managed by investment teams Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett.

Sursa: http://www.agerpres.ro

Tags: franklin investment management proprietatea templeton bucharest ing brd bvb

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