Romania’s Financial Supervisory Authority (ASF) accepted the program for the procedure under which Fondul Proprietatea (BVB: FP) looks for to redeem 269 numerous its 5.67 billion shares in order to minimize the share resources of the fund, according to an ASF record released on the internet site of the Bucharest Stock Exchange (BVB).
The cost of FP’s shares increased by over 3% upon the news on September 4.
The redemption cost will certainly be run at a rate of RON 0.6622, which has to do with 70% more than the existing market value, Bursa.ro reported.
The buyback system will certainly happen in between September 11 and September 25 this year.
The procedure belongs to the more comprehensive buyback program accepted by FP investors in February 2024, whereby the thumbs-up was offered to the procurement throughout this year of at many one billion very own shares (in the kind of protections detailed on the BVB or international deposit slips detailed on the London Stock Exchange), at costs in between RON 0.2-1.0 per share (for the protections detailed on the BVB).
iulian@romania-insider.com
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