Around Seven Mln Shares of Romania's Palace Hotel Trade for 2.8 Mln Lei (712,100 Euro)

The number of shares corresponds to a stake of 18.8% in the company. The shares were traded at an average price of 0.39 lei per share, compared to 0.45 lei at the previous close on October 23, RASDAQ data showed.

The buyer and the seller were not immediately known.

Data from the Central Depository showed that as of June 30 the Romanian company Venta Invest owned 32% of the hotel, Cyprus-based investment fund Broadhurst Investments Ltd held 21.4%, Romania’s restitution fund Proprietatea held 15.4% and private investor Angela-Cornelia Cozma had a 14.5% stake. Smaller investors owned the balance.

The Palace hotel has 150 rooms and four conference halls.

(1 euro = 3.9319 Romanian lei)