Record day for the Stock Exchange: EBRD exits BRD for 107m euros

The torpor that the Bucharest Stock Exchange had gone into after the first few days of trading of Fondul Proprietatea shares was shaken yesterday at 4:02 PM when the trading screens displayed eight BRD share transactions, which involved 34 millions of shares worth 107 million euros.

Yesterday set a new record in terms of the value of share transactions on the Romanian market, with yesterday’s transfers amounting to 116 million euros, after the 109 million-euro record set in 2007.
The European Bank for Reconstruction and Development (EBRD) sold its entire 4.99% stake in the second-largest bank in Romania. The transactions were concluded at the price of 13.05 lei/share, 5.43% lower than Tuesday’s market price.
BRD’s majority shareholder, French group Société Générale did not buy the stake, although negotiations were held, with price offers also being made, according to financial market sources. The 4.99% was very likely bought by several institutional investors, according to the share transactions displayed by the Stock Exchange.