Listing of Fondul Proprietatea: ecstasy for the Stock Exchange, prolonged agony for former owners - financiare.ro
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News » January, 2011 » 26 January 2011

Listing of Fondul Proprietatea: ecstasy for the Stock Exchange, prolonged agony for former owners
26.01.2011, 00:10 | Capital Markets | 796 views



The listing of Fondul Proprietatea (Property Fund) injected adrenaline into the weak heart of the Bucharest Stock Exchange, encouraging investors to daydream. Yet former owners have to wait before they can see their dreams come true.

Yesterday, January 25th, Fondul Proprietatea made history at the Bucharest Stock Exchange, this being the most awaited listing of the last decade.

Hopes of getting rich, illusions of being awarded damages have been given an answer in the very first few minutes of trading, when the Fondul Proprietatea share debuted at a price of 0.602 RON, 39 bani (1 RON-100 bani) less than the nominal value. An opportunity for those who bought shares on the grey market to triple their money, but a misfortune for former owners, who were compensated for the properties confiscated by the communist regime at the nominal value of 1 RON.

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