about us | newsletter | contact | archive | members area
Nicolae Ghibu, Certsign
Regulations will come gradually and will cover all areas»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   INFRASTRUCTURE   |   GREEN   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Fondul Proprietatea to be listed on London Stock Exchange specialist market

Administrator of the Fondul Proprietatea (FP) sovereign fund, US company Franklin Templeton, suggests the secondary listing of FP on the specialist market for closed-end investment funds of the London Stock Exchange after they examined several options, the Warsaw Stock Exchange and the New York Stock Exchange among them, FP manager Greg Konieczny said last week.

2014-03-10 12:43:28

The listing on the London Stock Exchange will be a technical one and no new shares will be issued. The reference listing price will be the one of the Bucharest Stock Exchange, said Konieczny. The main aim of the listing in London is an increase in the base of investors that might be interested in the fund. FP will be more visible internationally and its coverage will increase in the analysis reports.

422 investment funds are listed on the London Stock Exchange and FP will be listed on the market devoted to closed-end funds, where it will be the largest fund. Of the 422 funds, FP will be fourth by capitalisation and first by the value of the net assets.

The first 20 funds listed on the London Stock Exchange have a total value of USD 18 billion owned by foreign investors.

At the fund's founr year celebration on Bucharest Stock Exchange this year, Greg Konieczny, Fund Manager of Fondul Proprietatea, added in Novemver 2013: "In order to generate value for our shareholders, we will continue to implement corporate actions designed to further reduce the discount and increase the Fund′s NAV. We will start the third buy-back programme this year and will propose to shareholders in the near future a new plan for the secondary listing of the Fund, which should attract additional interest and demand for the shares and further raise the visibility of the Fund and increase the coverage of Romania among a broader international investor base. We expect that 2014 will be another exciting year in terms of privatizations, as we expect to see some major companies in our portfolio being listed on the stock exchange. This should have the two-fold advantage of making our portfolio more liquid and transparent, in addition to supporting the development of the capital market."



COMMENTS
'.$nr_comm.' comment:
'; } else { echo 'There are '.$nr_comm.' comments:
'; } while ($row = mysqli_fetch_array($result, MYSQLI_ASSOC)) { echo '
'.$row['nume'].": on ".$row['data']."
"; //echo str_replace('\n','
',$row['comentariu']); echo nl2br($row['comentariu']); echo '
'; } ?>

0 Comments  |  6899 Views
Daily Info
Smart city is not a fad, it's a necessity

In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo...

Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers"

"We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u...

Telekom Romania, a strong supporter of Smart City development in Romania

Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society...

In the industrial era, the fight was for finite material resources. Not anymore

Now organizations fight and develop themselves for and around their talent. In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e...

Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania"

Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p...

 
 
   
advertising

advertising

advertising

More on News
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania

Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.

2 Comments

OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg

OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B...

Fondul Proprietatea expresses disappointment over Engie listing rejection

Fondul Proprietatea is disappointed with the decision taken by the majority shareholder of Engie SA, Romania Gas Holding B.V., to oppose the listing of the company, accordi...

1 Comment

Europe must become a producer of new technologies, not just a consumer of technologies, says EC

Europe must become a producer of new technologies, not just a consumer of technologies, said Gerard de Graaf, Director for the Digital Single Market in Directorate-General ...

1 Comment

FDI in Romania rises 10 per cent after ten months in 2018

Non-residents' direct investment in Romania (net FDI) totaled 4.56 billion Euro in January-October 2018, around 10 per cent more compared to the same period of 2017, Romani...

1 Comment

Catrina, MCSI: Romania is ready to roll up its sleeves and work during the presidency of the EU Council

Romania is ready to roll up its sleeves and work during the presidency of the Council of the European Union (EU), said Maria Manuela Catrina, State Secretary at the Ministr...

9 Comments

Two billion youth risk of being left behind in the Fourth Industrial Revolution workforce, says Deloitte

Almost two billion youth worldwide risk of being left behind in the Fourth Industrial Revolution (Industry 4.0) workforce, which is changing at an increasingly rapid pace a...

1 Comment