Fondul Proprietatea shares reach historic milestone
The shares of Romanian investment fund Fondul Proprietatea (FP) reached a record high of RON 1.035 on Friday, May 31, up 17% compared to the closing price at the end of 2018 and over 2.4 times higher than the closing price at the end of 2011, the year when the fund’s shares started trading on the Bucharest Stock Exchange (BVB).
The FP shares broke the RON 1 threshold for the first time on Thursday.
“The RON 1.00 price is the nominal value which the Romanian State set for the compensation of Romanian individuals who could not receive in kind the properties lost during the communist regime, prior to the Fund being listed on the Bucharest Stock Exchange. We are extremely pleased to see that many years of hard work and dedication to the creation of shareholder value is being reflected in the market price of the Fund,” said Johan Meyer, CEO of Franklin Templeton Investments Limited and Portfolio Manager of Fondul Proprietatea.
“In addition, we have also distributed RON 1.1696/share in cash through dividends and returns of capital, from September 2010 when Franklin Templeton started its mandate to present, including the cash dividend to be paid at the beginning of July,” he added.
(Photo source: the company)