FP listing on finishing straight after broker selection

A team of around ten experts of the brokerage consortium made up of Raiffeisen Capital&Investment, ING Bank and BRD-SocGen has the task of preparing the most important listing in the history of the Bucharest Stock Exchange (BSE), with the drawing up of documentation through which Fondul Proprietatea (Property Fund – FP) starts trading as the biggest challenge.
With assets of around 3bn euros, 500m-euro cash in accounts and stakes in the most important companies in the economy, FP is getting ready to become the most valuable issuer of the Bucharest Stock Exchange.
Since the Romanian state, the majority shareholder in the Fund, decided the Fund should be listed directly, without carrying out a secondary public offering, the main mission of the selected broker is to draw up the admission to trading prospectus. Starting August 18, the date the Fund was registered with CNVM, the broker has 90 working days to bring the Fund on the BSE.
Getting FP listing ready will be much different from that of energy companies as the Fund’s starting trading on the Stock Exchange will mean for its shareholders their getting compensations for the properties confiscated by the communist regime.