The rising price of Banca Transilvania on the stock market continues to force private pension funds to sell to comply with the cap set by the law. Those clearly were not the last sales of private pension funds, because four private pension funds were still above the 5% limit at the end of May, says George Mot, desprepensiiprivate.ro analyst.
Aripi sold 382,000 Banca Transilvania shares, BCR Pensii some 748,100, BRD Pensii 800,000 and Metropolitan 1.4 million, according to the data aggregated by desprepensiiprivate.ro. The average price per share in May was RON30.3 million, which means the transactions amounted to some RON103 million, according to ZF’s calculations.
(English version by Loredana Fratila-Cristescu)