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Property Fund delays announcement about foreign stock exchange listing

The managers of the Property Fund, the Americans from Franklin Templeton, announced the recommendation made to shareholders for a secondary Fund list would be made public the following week and not until the end of June, as it had been announced previously.

Considering the talks carried out with investment banks as well as the reactions recently received from institutional investors in the three weeks of international road show, the Fund Manager needs more time to include this information in the recommendation made to shareholders and also to consult the Committee of Representatives on the topic, the official press release shows.

Initially, the announcement had been scheduled until the end of the week. Franklin Templeton officials had declared in April that Property Fund would remain only listed on BVB if no decision was made about a double listing by the month of June.

Property Fund shares closed the transaction session of Thursday with a drop of 0.8% to the price of 0.535 lei/unit. Since its listing in January, the Fund dropped by 17.6% at BVB.

Sursa: http://www.actmedia.eu

Tags: property listing bvb

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