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Fondul Proprietatea: Most traded shares, foreign investments worth 1.8 billion dollars, in last 10 years
The Fondul Proprietatea (FP) ranked first in the top of most traded shares on the Bucharest Stock Exchange (BVB) in the last 10 years since its listing on the local capital market, and attracted over 1.8 billion dollars under the form of new foreign portfolio investments in Romania, according to a press release sent on Monday by the FP administrator, Franklin Templeton.
According to the quoted source, during the period of 2011-2020, the FP placed 5th in the ranking of largest rated companies on the BVB, which represents almost 7% of the total market capitalization.
Throughout the analyzed period, transactions made by the FP represented 40% (1.1 billion dollars) from the total value of special transactions and included: accelerated private placement of Transgaz (2013), the private accelerated placement of Transelectrica (2014), private accelerated placements of Romgaz (2014, 2015, 2016), private accelerated placements of Petrom (2013, 2016, 2017, 2020) and private accelerated placement of Conpet (2014).
Launched in 2005, the FP was created for compensating Romanian citizens whose properties were confiscated by the former communist regime. Following the international auction announced in December 2008, Franklin Templeton Investments took over the official role of investment manager and sole administrator of the Fund on September 29, 2010.
The fund is a closed investment company, and its investment objective is maximizing efficiency towards shareholders and raising the value of net assets through realized investments, mainly, in shares and Romanian securities.
FP has been trading on the Bucharest Stock Exchange since January 25th, 2011 and was listed on the Specialist Fund Market London Stock Exchange segment through the deposit certificates (GDRs) on April 29, 2015.