Preparations for Fondul Proprietatea (Property Fund-FP) listing are on the finishing straight: documentation is about to be completed and the broker consortium that received the intermediation mandate has already set the calendar of the road show in the main European capital cities and is in talks for the introduction of global accounts and short selling for Fund share, so that the stock should be more accessible to foreign investors.
The floatation prospectus needs to be sent for approval to the
capital market regulator by December 23, but the leader of the
consortium, Raiffeisen Capital & Investment, expects the
documentation to be submitted earlier.
Beside the floatation prospectus, a huge role in promoting the Fund
abroad, as expectations are that major investment funds will
discover the domestic stock market through FP, will be played by
road shows. More precisely, for two weeks in January, the brokers,
together with manager Franklin Templeton, are going to present and
promote the Fund in front of more than 120 institutional investors
of Bucharest, London, Paris, Frankfurt and Zurich.