Fondul Proprietatea confirms the sale of its whole stake in Nuclearelectrica
Fondul Proprietatea (FP), the biggest investment fund in Romania, has sold its entire stake in state-controlled nuclear power producer Nuclearelectrica (SNN), according to the fund’s annual financial report.
The fund held a 7.1% stake in Nuclearelectrica at the end of 2019, which it sold through successive transactions on the Bucharest Stock Exchange (BVB). The biggest transaction was recorded on December 23, when Fondul Proprietatea sold 4.67% of Nuclearelectrica’s shares through 11 deals worth RON 237.7 mln (EUR 48.8 mln), according to data on the BVB website.
Since those deals, the price of Nuclearelectrica’s shares has surged by 33%. Fondul Proprietatea’s shares also went up by 13% in the last two months.
The Romanian state holds 82.5% of Nuclearelectrica’s shares while the remaining 17.5% are in the portfolios of institutional and individual investors on the Bucharest Stock Exchange. Nuclearelectrica’s market capitalization currently stands at RON 6.79 bln (EUR 1.39 bln).
(Photo source: BVB)