The stakes sold on the stock exchange account for 0.001% of the company’s share capital. The total value of stock sale deals reaches RON168,231 and deals were brokered by brokerage firm Wood&Co.
Templeton resumed the sale of Petrom shares after an almost two-month hiatus. OMV Petrom shares represent the biggest investment in Franklin Templeton’s portfolio, accounting for 6.16% of the $234 million worth assets. In 2015, the fund reported a loss of 22% expressed in dollars.
OMV Petrom shares have increased by 11.84% over the last month, reaching RON0.25 per unit on March 14, 2016. OMV Petrom shares reported a strong decline in January, down to RON0.215/unit, mainly due to plunging oil prices on external markets and to investors’ pessimism regarding the financial results OMV Petrom was going to report in 2015.
Franklin Templeton has been manager of Romanian property restitution fund Fondul Proprietatea (FP.RO) since 2010. End-October 2015, Fondul Proprietatea shareholders extended the mandate of Franklin Templeton as manager for two years starting April 1, 2016. Fondul Proprietatea holds 19% of OMV Petrom shares.