Romanian investment fund Fondul Proprietatea has completed the fourth shares buyback program, totaling about EUR 238 million.

Fondul Proprietatea has acquired 990 million of its shares, namely 8.13% of the fund's capital.

The program included a public offer of 750 million shares and daily purchases on the Bucharest Stock Exchange. The average price was about RON 1.0557 lei (EUR 0.2) per share.

"The fund’s manager will ask for the shareholders' approval to cancel the shares acquired under this buyback program in the next General Meeting of Shareholders," reads the notice published on the BSE website.

American group Franklin Templeton manages Fondul Proprietatea.

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