The Romanian market’s regulator has green-lighted the Property Fund’s secondary listing on the London Stock Exchange. The Financial Supervisory Authority (ASF) has adopted the regulations concerning the listing of stocks tradable on the Romanian regulated market on the market of another member state, through depository interests. The change brought to the normative framework had been requested by the Property Fund which wanted to be listed on the London Stock Exchange’s Specialized Fund Market through depository interest.
The decision “comes as a natural continuation of the measures that were taken from October 2014 to March 2015 and that sought to boost the Romanian capital market’s liquidity and to attract foreign investors,” the ASF communiqué reads.
The dual listing seeks to enhance the visibility of the Property Fund managed by America’s Franklin Templeton. “The secondary listing is not for liquidity; it is for attracting new investors,” Franklin Templeton’s Investor Relations Manager Marius Dan stated in August 2014. One of the goals is to enhance exposure in the large financial companies’ analysis reports, the Property Fund already being monitored by Jeffries since the start of the year and by Renaissance Capital since April.