Proprietatea, a fund set up by the Romanian government to compensate citizens for properties seized under the communist regime, listed its shares on the Bucharest stock exchange in January 2011. Franklin Templeton Investment Management is the sole administrator and fund manager of the 2.8 billion euro fund.
“The fund manager would like to announce that The Bank of New York Mellon has been appointed by the fund to act as depositary bank in relation to the GDR facility and that the admission to trading of the GDRs on the LSE is expected to take place on or around 29 April 2015,” the statement reads.
The fund had a net asset value of 12.6 billion lei (EUR2.8 billion) at the end of March, and it holds shares in some of the most important energy companies in Romania, including OMV Petrom, Hidroelectrica and Romgaz.