English
The price of shares of the Proprietatea Fund have tracked the evolution of the main indexes of the Bucharest Stock Exchange (BET and BET-FI), over the course of the last three years, registering their highs during the heyday of the market - summer 2007 - and reaching their lows at the end of 2008, according to a study by brokerage firm "Intercapital Invest". This month, the last transactions with shares of the fund, were concluded at a price of around 0.32 lei/share.
Intercapital Invest estimates that the listing of the Proprietatea Fund on the Bucharest Stock Exchange, which it deems the "most awaited IPO", will take place in 9 to 15 months.
However, until the elusive listing of the Fund, buyers and sellers trade its shares directly, by way of contracts of assignment (so called Over the Counter transactions, since they don"t take place on a regulated market). After their signing, the contracts are registered with the Central Depository, the institution which keeps the registry of shareholders of the Proprietatea Fund.
Intercapital Invest estimates that the data on the evolution of the price of the Fund"s shares were obtained from its own research.
The Proprietatea Fund is one of the most important investment fund in Central and Eastern Europe, and was created by the Romanian state as a means to compensate individuals or the heirs of those whose properties were abusively confiscated during the communist regime.
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
