Fondul Proprietatea bought 6.8751 million shares at average prices ranging between RON0.5197 and RON0.5359 a share.
Tuesday, Fondul Proprietatea closed down 0.19% at RON0.529 a share.
The fund initiated a buy-back process on May 11 to keep its shares from declining too much. So far, the fund bought back a stake of 0.52% in exchange for RON36.7 million.
Fondul Proprietatea allocated RON120.3 million (EUR28.3 million) to buy back stock on the Bucharest bourse. The amount is estimated to cover the purchase of a stake of up to 1.5%, well below the fund’s target of around 10%.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism.
The fund was floated on the Bucharest Stock Exchange on January 25. (EUR1=RON4.1817)