The shares were traded at RON0.525 per share, down 0.19% from Monday’s closing price.
Some brokers believe the transactions were performed by Dutch financial group ING’s clients, who transfers their stakes. ING will close down its brokerage operations in Romania, as part of a larger restructuring strategy that includes divesting brokerage and related businesses at all its international locations, excepting Benelux and Poland.
Another deal of almost 0.04% in Proprietatea was made on the Bourse earlier this day, for RON2.7 million. The shares were traded at RON0.5335/share, up 1.42% from Monday closing.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
Foreign institutional investors held 50.64% of the fund’s shares at the end of August, while Romanian-based institutional investors held 9.34%.
The fund’s largest stockholders are US hedging fund Elliott Associates, which indirectly owns a 14% stake, and City of London, with a 9.8% stake. (EUR1=RON4.5220)