BUSINESS

State stake in Proprietatea Fund fell in December

The stake owned by the Romanian state in the Proprietatea Fund dropped to 38.88 per cent in December of last year, from 41.49 per cent in November, as 450 more shareholders bought stock during the last month when FP shares were traded through negotiations at the Central Repository. Mediafax reports a number of 571 ownership rights conversions into shares at the Central Repository, which resulted in 434 more shareholders, who received an overall 2.26 per cent of the shares from the state-owned batch. The number of individuals who each hold under 1 per cent of the FP stock therefore rose to 5,193, with their overall stake going up from 32.04 per cent to 33.68 per cent. In late December of 2010, Proprietatea Fund posted net assets worth RON 15.9 bln, up nearly 18 per cent against the previous month, on the strength of a shift from domestic to international asset valuation standards.

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