The Romanian National Securities Commission (CNVM) approved the listing prospectus for the admission of the shares of Fondul Proprietatea (the Fund) to trade on the Bucharest Stock Exchange (BSE).
This announcement comes following a collective effort from Franklin Templeton, the consortium of brokers – Raiffeisen Capital Investments S.A, BRD Groupe Societe Generale, ING Bank NV Amsterdam Bucharest Branch – and the legal advisers, Schoenherr si Asociatii and White & Case, Pachiu, who worked hard to prepare the prospectus in record time.
The CNVM also declared that it will issue the security registration certificate the day after the prospectus is published, at latest on December 22, 2010.
On that basis, the Central Depositary has confirmed that registration of transfers in the Fund’s shares will continue up to and including 21 December 2010 and it is making a public announcement about these arrangements today.
Trading of the shares on Bucharest Stock Exchange will open when the listing of the Fund is completed, which is scheduled for 25th January 2011.
Launched in December 2005, Fondul Proprietatea was established to compensate Romanians whose properties were confiscated by the former communist government.