Polish fund to list Romanian water distributor

Polish investment fund Innova Capital could list the water supplier La Fantana on the Bucharest Stock Exchange. The Polish company Ipopema Securities could broker the transaction, according to market sources, cited by local Ziarul Financiar. Innova Capital representatives said that they preferred not to comment for the moment. The fund acquired the local water supplier in 2007, when it took over 90% of its shares for about EUR 35 million. The fund currently has a 92% stake in the company, while Cristian Amza, the firm’s founder, has an 8% stake. La Fantana has a EUR 22 million annual turnover. editor@romania-insider.com