SIF Banat-Crisana Thursday bought 5% of SIF Muntenia shares for 38.7 million lei (EUR8.5 million). Swiss Capital brokered the deal.
Early February, Romania’s financial supervisory authority ASF decided the five regional investment funds SIFs may buy each other’s stock within the legal threshold of 5%.
SIF Banat-Crisana shares rose only 0.6% in the first hour of trading Friday, as investors did not react to the announcement that a 5% stake in SIF Muntenia was bought by SIF Banat-Crisana.
Thus, at around 11:00 local time (GMT0900), BET-FI, which tracks the SIFs and Fondul Proprietatea (FP.RO), rose 0.65%.
The Bucharest bourse’s BET index was up 0.44%, while composite index BET-C gained 0.49%.
Bucharest benchmark index BET-BK gained 0.81%, and extended blue-chip index BET-XT was 0.59% higher. Energy stocks tracker BET-NG advanced 0.77%.
Overall trading reached 4.99 million lei (EUR1.10 million).