Fondul Proprietatea bought 10.018 million shares at average prices ranging between RON0.499 and RON0.506 a share.
Tuesday, Fondul Proprietatea closed up 4.8% at RON0.5345 a share.
The fund initiated a buy-back process on May 11, to keep its shares from declining too much. So far, the fund bought back a stake of 0.6%.
Fondul Proprietatea allocated RON120.3 million (EUR28.3 million) to buy back stock on the Bucharest bourse. The amount is estimated to cover the purchase of a stake of up to 1.7%, well below the fund’s target of around 10%.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
The fund was floated on the Bucharest Stock Exchange on January 25. (EUR1=RON4.1732)