BUSINESS

Wood&Co to mediate FP’s share buy-back program

Following a bid, Franklin Templeton Investment Manager Ltd, investment manager and sole administrator of Fondul Proprietatea (FP), announced, yesterday, in a press release, that Wood & Company Financial Services a.s. Prague, the Czech Republic, was appointed to mediate, on behalf of the Fund, the future program for buying-back of its shares. The buy-back program is an instrument frequently used by closed-end investment funds to boost share value by allowing the Fund to purchase from the market its own share packages.

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