Romania’s Financial Supervisory Authority (ASF) accepted this system for the process underneath which Fondul Proprietatea (BVB: FP) appears for to redeem 269 quite a few its 5.67 billion shares as a way to reduce the share assets of the fund, based on an ASF report launched on the web website of the Bucharest Stock Exchange (BVB).
The price of FP’s shares elevated by over 3% upon the information on September 4.
The redemption price will definitely be run at a charge of RON 0.6622, which has to do with 70% greater than the present market worth, Bursa.ro reported.
The buyback system will definitely occur in between September 11 and September 25 this 12 months.
The process belongs to the extra complete buyback program accepted by FP traders in February 2024, whereby the thumbs-up was provided to the procurement all through this 12 months of at many one billion very personal shares (within the sort of protections detailed on the BVB or worldwide deposit slips detailed on the London Stock Exchange), at prices in between RON 0.2-1.0 per share (for the protections detailed on the BVB).
iulian@romania-insider.com
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