Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Mark Mobius: Property Fund can relaunch capital market

Mark Mobius, the CEO of Templeton Asset Management, hopes to change Romania's image among foreign investors through the January 25 listing of Property Fund on the Bucharest Stock Exchange /BVB/, informs an article published on Tuesday by Financial Times.

Property Fund may be compared to a sovereign fund for Romania, Mark Mobius told Financial Times. It is a huge responsibility for us both to Romania and to the people who have waited decades for compensation, Mobius added.

Analysts believe that the Property Fund has the capacity to significantly increase the liquidity of BVB, thus helping in drawing new institutional investors from abroad. After the BVB listing on January 25, the Property Fund will be the second-biggest company in terms of market capitalization and is to increase the free float by 81%. There is no doubt that the listing of the Property Fund will be an adrenaline dose for the system, said Mark Mobius.

The fund's portfolio includes stakes in 83 companies (28 listed and 55 unlisted), starting from stakes lower than 2% and up to 100%. The Romanian state holds 39% in the Property Fund but this stake is to decrease below 33% at the end of this year.

Launched in December 2005, the Property Fund was set up to compensate Romanian citizens whose properties were confiscated by the former communist regime. Following the international bidding announced in December 2008, Franklin Templeton won in July 2009 the management of the Property Fund, having been selected from seven global asset management companies.

Sursa: http://www.agerpres.ro

Tags: property mobius bvb

Articole similare