“Our target price is RON0.89 per share and the recommendation is to “buy”. We believe the successful listing of Romgaz this autumn could generate a leap for FP shares,” say analysts of Raiffeisen Capital&Investment brokerage.
The shares of Fondul Proprietatea on Tuesday climbed above the RON0.67 per share mark, closing at the highest level reached since the fund’s stock exchange listing on January 25 2011.
At Tuesday’s closing price of RON0.672 per share, Fondul Proprietatea has a capitalization of RON9.25 billion (EUR2.09 billion), while the value of the fund’s net assets at the end of June was RON15 billion (EUR3.36 billion)
Since the beginning of the year the fund’s shares have risen 22%, and considering the dividend paid from last year’s profit, the yield amounts to 30%.
This compares with a 10% rise for the main BET index of the Bucharest bourse, while the BET-FI index, which tracks the FP and SIF stocks, is below the level hit at the end of last year. The two indexes do not take dividend yields into account.
(English version by Daniela Stoican)