Fondul Proprietatea

Public Power Corporation (PPC) on Thursday announced it has reached a deal to increase its equity stake in electricity power distribution and supply companies in Romania, following an agreement reached on March 9 to acquire all of Enel's activities in the country. 

The turnover of the postal and courier services in Romania has gone up, in 2019, by 112% from the level reached in the previous year, to the value of 5.3 billion RON, according to an analysis made by KeysFin consultants.

The local capital market has evolved nicely both in terms of liquidity and of the value of the listed companies, president of the Bucharest Stock Exchange (BVB) Radu Hanga told a news conference today dedicated to the 10th anniversary of the listing of Fondul Proprietatea (FP).

Romania has a one-off chance to shine this year, despite an economic slowdown compared to the previous years, says Johan Meyer, CEO of Franklin Templeton Investment Management Limited UK Bucharest Branch and Fondul Proprietatea co-Portfolio Manager. "30 years after the fall of the communist regime, Romania seems well anchored to the European values and on a clear path of economic development.

The government should be genuinely concerned to develop the country's capital market, and the listing of state-owned companies such as Hidroelectrica and Bucharest Airports could significantly contribute to Romania's promotion to emerging market status, says Johan Meyer, Franklin Templeton Investments CEO and Fondul Proprietatea portfolio manager.

The gov't intent to sell up to 8 percent of the Petrom shares to its employees will be a complex process that will generate litigations to stretch on several years, since the legislation is not clear as regards the beneficiaries and what is exactly the percentage in shares, on Friday asserted in a press conference Johan Meyer, CEO Franklin Templeton Investments and Fondul Proprietatea Fund Mana

Businesses in the postal and courier sector exceeded the 4 billion lei threshold in 2018 due to the spectacular increase in product sales on the Internet, KeysFin specialists estimate in an analysis published on Monday.

The Financial Supervisory Authority has approved the reduction of the subscribed social capital of the Proprietatea Fund from 11.575 billion lei to 10.965 billion lei, to distribute cash to the fund unit holders, the management company of the Fund announced on Friday in a report to the Bucharest Stock Exchange (BVB).

Photo credit: (c) Cristian NISTOR / AGERPRES ARCHIVE

AGERPRES correspondent Florin Barbuta reports: Trading in Proprietatea Fund global deposit receipts (GDR) began on Wednesday at the London Stock Exchange.

Photo credit: (c) London Stock Exchange official website

The president and two vice-presidents of Romania's Authority for Property Restitution, ANRP, resigned this week over delays in fulfiling the law to resolve the issue of property seized by the Communist regime.