Fondul Proprietatea bought around 36.4 million shares at average prices ranging between RON0.5102 and RON0.5235 a share.
Monday, Fondul Proprietatea closed up 1% at RON0.515 a share.
On May 11, the fund initiated a buyback process to keep its shares from declining too much. So far, the fund bought back a stake of 1.27% in exchange for RON90.7 million.
Fondul Proprietatea allocated RON120.3 million (more than EUR28 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=RON4.2246)