Property Fund plans secondary listing in London by September, October

Newsroom 28/04/2014 | 18:39

Grzegorz Konieczny, manager of the EUR 3.2 billion Property Fund, said on Monday that shareholders have approved the secondary listing of the fund on the London Stock Exchange by September, October this year.

He said that the secondary listing is one of the avenues for reducing the discount in FP shares, which currently stands at around 30 percent.

“London-based investors that specialize on closed-end funds have over USD 100 billion under management, and the Property Fund would be a very visible, very important player on the London investment trust market, since it would be the fourth largest by market capitalization and the second largest based on the assets under management,” said the FP manager.

Shareholders have also approved during the Monday meeting the fourth buyback program of 10 percent of FP’s issued share capital.

Ovidiu Posirca

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