The shares were bought at prices between RON0.4876 and RON0.5017, according to the report.
Mark Mobius, executive president of Franklin Templeton Emerging Markets, which manages the Proprietatea fund, said buybacks would start when the price drops, and they would be used as a tool to maintain the stock price.
The operations through which the fund bought back stock were brokered by Wood&Company Financial Services.
The fund has a buyback budget of RON120.3 million (EUR28.3 million), but this sum only covers a 1.5% stake, compared to the 10% stake calculated when planning the budget.
Proprietatea stock closed up 0.21% on the day Tuesday, at RON0.486. (EUR1=RON4.1208)