April 28, 2014 / 12:31 PM / 4 years ago

Romania Fondul Proprietatea aims for secondary London listing in Sept-Oct

BUCHAREST, April 28 (Reuters) - Franklin Templeton, the manager of Romania’s investment fund Fondul Proprietatea aims for a secondary Fondul listing on the London Stock Exchange in September-October, manager Grzegorz Konieczny said on Monday.

Fondul shareholders approved the secondary listing at a general meeting on Monday.

They have also approved a fourth buyback programme of 10 percent of Fondul’s issued share capital. The buybacks aim to narrow the discount between its net asset value and its stock price, which stands at roughly 30 percent.

The 3.2 billion euros ($4.43 billion) fund, created to compensate Romanians whose assets were seized when the country was under communist rule, holds minority stakes in a slew of state-owned companies. ($1 = 0.7227 Euros) (Reporting by Luiza Ilie)

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