Several share packages in the Fondul Proprietatea, representing 3.86 percent of the total, were sold for around EUR 62.5 million according to reports in the Romanian media. By far the largest share package, which alone represented 3.67 percent of the capital, sold late last week (November 8 ) for around EUR 0.12 a share, totaling some EUR 59.3 million. The recent share activity values the Fondul Proprietatea at EUR 1.617 billion, according to the local press.

As of end-October, foreign investors held 51.49 percent of the Fondul Proprietatea. US hedge fund Elliot Associates owns the largest stake in the Fund, just under 16 percent of the total, while the City of London controls the next biggest chunk – nearly 9.5 percent of the share capital.

editor@romania-insider.com