At the general meeting of shareholders due on February 13, FP shareholders will vote on the completion of the transaction for the sale of the entire ownership stake in Engie Romania to GDF International for RON432.6 million, and also a generic mandate regarding the sale of up to 40% of the portfolio of ownership stakes under the form of shares.
“The 2024 budget includes costs estimated at RON8.2 million, related to the stock market listing of Societatea Nationala a Sarii SA, comprising the commissions of the investment bank, the legal counseling fees, the commissions and taxes owed to Romania’s Financial Supervisory Authority (ASF) and to relevant market operators, expenses incurred by marketing activities and other consultancy-related expenses, targeting the successful completion of the transaction”, reports FP.
Fondul Proprietatea owns 49% of the share capital of Salrom and the ownership stake is valued at RON318 million, representing nearly 13.55% of the net asset value of FP. The remaining stake of 51% is owned by the Romanian State, through the Ministry of Economy, Entrepreneurship and Tourism.
Fondul Proprietatea has budgeted for 2024 a net profit of RON28.3 million, down 84.2% compared to the net result budgeted for 2023, of RON263 million, considering that dividend income will be significantly lower as a result of selling its ownership stake in Hidroelectrica (H2O.RO).
Fondul Proprietatea envisages dividend income of RON94.2 million in 2024, lower by 85.7% than the RON658.1 million level anticipated for 2023, and a threefold increase in interest income, to RON10.8 million from RON3.6 million. The highest dividend income will come from SALROM, the Bucharest National Airport Company (CNAB) and the Maritime Ports Administration.
Fondul Proprietatea has a market value of RON3 billion after its shares have gained 1.2% so far in 2024, amid deals worth RON38.6 million, as per stock market data.