The Bucharest Stock Exchange Council decided in a meeting on Thursday to allow Proprietatea Fund shares to be listed on the market with the FP symbol, a press release of the market operator reads. Stock Exchange President Stere Farmache declared that several important foreign institutional investors will be interested in the new stokes and this will have a positive impact on the market liquidity.
Proprietatea Fund manager Greg Konieczny considers that the presentations scheduled by the Fund in the biggest European cities will continue to increase the awareness on the Fund and he is confident that the listing will develop the Romanian capital market.
Proprietatea Fund is a joint stock company established by the Romanian state, and its purpose and operations are governed by special legislation The Fund was created in December 2005 to offer compensation for those illegally dispossessed by the Romanian state in the Communist period. When the Fund was created, the state promised to list it at the Bucharest Stock Exchange and on a international market, which would have allowed shareholders to value their titles. However, the deadline was postponed several times.