A stock portfolio comprising shares in Fondul Proprietatea (BVB ticker: FP), OMV Petrom (SNP), Banca Transilvania (TLV), BRD-Societe Generale (BRD) and Romgaz (SNG) exchanged owners on the Bucharest Stock Exchange (BVB), on Monday, for EUR 23.4 million, raising the overall trading value to the maximum of the last one and a half months.
The largest transactions involved the trading of 0.56% of the shares of local investment fund Fondul Proprietatea, for EUR 13.2 million. The two deals were made at a price of RON 0.7395 per share, 15% bellow the official market price of RON 0.87 per share. Another transaction, worth EUR 6 million, was made with shares of oil and gas company OMV Petrom. The price in this case was similar to the official market price of RON 0.485 per share. Smaller deals were made with shares of Banca Transilvania, BRD and Romgaz.
All transactions were made between 11:30 and 11:50 which suggests that the buyers and sellers might be the same for all transactions, likely two investment funds, according to a broker.
Otherwise, trading on the Bucharest Stock Exchange was rather dull in the first half of the Monday session, with a trading volume on the regular market of less than EUR 1 million. The BET index, which is the main reference for the Bucharest Stock Exchange, showed a 0.2% decline at 13:00. Since the beginning of this year, the BET gained more than 8%.
Andrei Chirileasa, email@example.com