The president said the procedures for listing on the Bucharest Stock Exchange (BVB) should be completed as soon as possible.
On Friday, Fondul Proprietatea shares rose by 1.6% on the
bourse.
The decision to send the bill back for reexamination comes as BVB
officials sent a letter to the president asking him not to sign the
draft normative act into law.
“We consider that procedures to allow companies in the Fondul Proprietatea portfolio, in which the Romanian state is a majority shareholder, to be traded on the Bucharest Stock Exchange need to be finalized as soon as possible since this will significantly boost the price of Proprietatea shares, providing the Romanian state with the necessary resources to settle the compensation claims of former owners who lost their properties during the communist regime. At the same time, the privatization of the Romanian state’s stakes through the Stock Exchange ensures the necessary transparency both for the privatization process and the management act,” said the President.