In the first six months of 2013, the fund reported a net profit of RON514.6 million.
The fund raised RON644.6 million from selling 4.99% in Romgaz via a private placement which took place in June. Following the deal, the fund’s stake in Romgaz fell to 10.01%. Romgaz is majority owned by the Economy Ministry.
Fondul Proprietatea reported net assets of RON14.85 billion at the end of June, down from RON15.24 billion in the previous month.
Around 51.2% of Fondul Proprietatea’s assets were listed equities in June, while 41.94% non-listed equities. Net cash and receivables stood at 6.9% of the net asset value.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism. The fund has a share paid capital of RON13.17 billion lei, split into 13.17 billion shares with a face value of RON1.
At around 1:00 pm, Fondul Proprietatea traded up 0.18% at RON0.851 a share in Bucharest, amid a mixed market. (EUR1=RON4.4175)