Romanian investment fund Fondul Proprietatea, managed by Franklin Templeton, has decided to distribute some EUR 150 million to its shareholders.

The move will be done via a reduction of the social capital., by reducing the nominal value of the shares.

Of the fund's shareholders, American hedging fund Elliott, which controls 17 percent of Fondul Proprietatea, will get some EUR 25.5 million out of the total amount.

The decision announced on Monday on the Bucharest Stock Exchange, where Fondul Proprietatea's shares are floating, sent its stock prices up by some 2.2 percent.

The closing price on Monday, February 3, for FP was of RON 0.83 per share.

editor@romania-insider.com