BUCHAREST, July 8 Romanian investment fund
Fondul Proprietatea plans to sell its 13.5 percent stake
in state-owned power grid operator Transelectrica
through an accelerated bookbuilding process, it said on Tuesday.
Fondul, set up to compensate Romanians whose assets were
seized under communism, holds minority stakes in a slew of
state-owned firms and has recently sold small stakes, including
in gas producer Romgaz and gas pipeline operator Transgaz.
The fund has been buying back its own shares in an attempt
to lower its share capital and narrow the discount between its
net asset value and its stock price.
By 0725 GMT, Transelectrica shares were bid at 22.5000 lei
per share, down 3.8 percent on the day. Fondul shares were 0.3
percent up from the previous session at 0.8525 lei ($0.26).
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($1 = 3.2250 Romanian lei)
(Reporting by Luiza Ilie)