Bucharest Stock Exchange (BVB) has announces that approves the admission to trading on the BVB regulated market of the shares issued by Fondul Proprietatea (FP), administrated by Franklin Templeton Investment Management UK, Bucharest Branch.
The first day of trading for the shares issued by Fondul Proprietatea is January 25, 2011.
“I think that the listing of Fondul Proprietatea will draw attention of some major institutional investors from abroad and will positively influence the market liquidity both on short and long term. The FP represents 82 companies out of which only 29 are listed on the BVB regulated market. We hope that the money drawn from the capital market by the companies from FP’s portfolio will generate new IPOs followed by listings, and this diversification of the offer generally leads to increased free float and number of investors,” said Stere Farmache, BVB president.
The Fondul Proprietatea Futures Contract will be launched after receiving from CNVM the futures contract’s registration certificate, but no earlier than January 25, 2011.