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Proprietatea Fund increases its stake in Petrom to 20.11 percent

Joi, 19 iulie 2007, 0:00

The Proprietatea Fund, a Romanian fund aimed at compensating people whose properties were confiscated during the communist regime, increases its stake in Petrom, the main Romanian petroleum company, to 20.11% after Authority for State Assets Recovery - AVAS transferred a 10.22% stake, a press release remitted to the Bucharest Stock Exchange on Thursday informs.

Thus, AVAS transferred to the Proprietatea fund 5.79 billion shares in Petrom, amounting to 10.223% of the company’s social capital.

After the transfer, AVAS holds 11.69 billion shares out of which 20.64% of Petrom’s social capital and Proprietatea fund holds 11.39 billion titles.

Petrom’s main shareholder is OMV Austrian company which holds 51.01% out of the total number of shares. The company registered a profit of 2.28 billion Romanian RON last year.

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