Foreigners Held 31% Of Fondul Proprietatea Shares In April

05.05.2011 By Andrei Circhelan

Foreign investors continued buying shares in Romanian investment fund Fondul Proprietatea (FP.RO) in April, bringing the total foreign-owned stake to 31.03%, from 29.06% in the previous month, while the Romanian-owned stake dropped to 32.18%, according to a fund report published Thursday.

The number of foreign investment funds and companies holding Proprietatea stock rose to 129in April, from 125, and their overall stake widened to 22.5%, from 20.4%.

On the other hand, the number of foreign individuals holding Proprietatea stock dropped to 294, from 310, and their overall stake narrowed to 8.53%, from 8.66% at the end of March.

Romanian individuals were the most active vendors of Proprietatea stock in April, and their overall stake dropped by 2.17 points, to 26.11%, from 28.28%.

The stake held by Romanian investment funds and companies in the Proprietatea fund rose by 0.2 points, to 6.07%, from 5.87%, and their numbers rose to 292, from 287 at the end of March.

The fund also announced that Palade van Dusen Georgia, one of the heirs of industrialists Malaxa and Auschnitt, holds 6.71% of Proprietatea stock.

Before the fund's listing on the Bucharest Stock Exchange, Malaxa and Auschnitt heirs Malaxa Loreen, Palade Van Dusen Georgia and Palade Theodore, held a cumulated stake of 7,35%.

The state still holds a 36.79% stake.

The Proprietatea fund is a closed-end investment fund designed to compensate people whose property cannot be returned in kind after being abusively taken by the communist regime.

Proprietatea shares closed flat Thursday, at 0.545 lei (EUR0.133). Calculated on the latest price, the fund has a market value of RON7.509 billion. (EUR1=RON4.1065)