Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Proprietatea Fund valued at 2.3 billion euros

The market value of the Proprietatea (Ownership) Fund, established in 2005 as a solution to compensate former property owners abusively dispossessed under the communist regime in Romania, is standing at 2.3 billion euros, compared with its initial share capital of 4 billion euros and estimates that have put it at an even higher level.

National daily Ziarul financiar notes that the real value of the fund was obvious from the first transaction in the fund that has been disclosed. It quotes SIF Muntenia financial investment company as announcing having bought a package of 3.5 million Proprietatea shares carrying a nominal value of RON 1 (1 euro = RON 3.66) each, for RON 0.6 each. The first transactions in these shares, which price has not been disclosed, started this year following the amendment of the relevant legislation that now allows trade in these shares although the fund is not listed with the stock exchange. Analysts are quoted as saying a lack of transparency, repeated amendment of the fund's portfolio and the remote chance of floating the fund on the stock exchange could all negatively affect the market value of the fund. The last years has showed that the wealth of the private shareholders in the fund could be negatively affected by changes in the fund's portfolio under normative acts. Sursa: http://www.rompress.ro

Tags: proprietatea euros billion euro sif

Articole similare