ING pension funds increase stake in Bucharest Stock Exchange

Several pension funds managed by ING increased their stake in the Bucharest Stock Exchange (BVB) to 5.57% by acquiring 0.62% of the BVB shares on January 9, when the holding limit increased from 5% to 20%, reports local Wall-street.ro. ING previously had a 4.95% stake in the BVB, through the voluntary pension funds ING Activ and ING Optim, but also through the ING Private Pension Fund, according to a report submitted to the Exchange. An emergency ordinance issued on January 9 amended the legislation on the capital market, by increasing the maximum threshold for holding shares in stock market operators from 5% to 20% of the total shares. editor@romania-insider.com