BUSINESS

Foreign institutional investors continue to buy FP shares

Foreign institutional investors have continued to buy Fondul Proprietatea (FP) shares in August, hiking their participation by 0.39 per cent to 56.9 per cent, this being the second consecutive month when they were net buyers, Mediafax informs. In May and June foreign institutional investors lowered their exposures and withdrew a part of the money invested in emerging markets, anticipating that the Fed will lower the economic stimulus program in the US, the participations owned dropping by 0.54 per cent, down from 56.68 per cent at the end of April. Since FP was listed on the Bucharest Stock Exchange (BVB) in January 2011, foreign institutional investors have been the biggest buyers, buying over 42 per cent of the shares. At the end of 2010 foreign institutional investors had approximately 14 per cent of the shares.  At the end of August, FP had 8,020 shareholders, compared to 8,195 in July. In August the main sellers of FP shares were institutional investors registered in Romania and Romanian physical persons, their participations dropping by 0.44 per cent and 0.43 per cent respectively, according to the statistical data transmitted by FP to the BVB. At the end of August, institutional investors registered in Romania owned 8.43 per cent of FP shares, compared to 8.87 per cent in July.

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