The Proprietatea Fund stock market listing has attracted 13 brokerage companies which bought the bid documentation for intermediating the fund's listing. Four consortia have submitted offers, according to the fund. BT Securities, a consortium formed of Intercapital Invest, BCR SA and Wood&co, a consortium made of Raiffeisen Capital, ING Bank and BRD GSC and another one made of UniCredit CAIB and KBC Securities Romania have filed offers to intermediate the fund's listing on the Bucharest Stock Exchange. The winners will be announced on August 24.

The Proprietatea Fund is a closed investment fund created to compensate former owners whose properties were confiscated during the communist regime and which cannot be redeemed in nature. The Fund has participation in 88 companies, most of which in the energy sector. The Fund’s listing on the stock exchange has been delayed one year to another. Listing 20 percent of the Fund’s shares should attract $ 500 million, according to Franklin Templeton representatives.

The main shareholders in the fund is the Finance Ministry, with 56,98 percent of the shares, 3,469 individuals, who have 31,62 percent of the shares and other firms, with 11,39 percent.

The fund is administrated by Franklin Templeton which has won the bid to manage the fund, but is yet to be officially names fund manager. Franklin Templeton plans to float the Fund on several stock markets towards the beginning of next year, according to most recent estimations.