BUCHAREST (Romania), April 25 (SeeNews) – The Romanian financial supervision authority, ASF, said it has requested investment funds SIF Banat Crisana [BSE:SIF1] and SIF Muntenia [BSE:SIF4], drug maker Biofarm [BSE:BIO] and three other shareholders to reduce their combined stake in SIF Oltenia [BSE:SIF5] to 5.0%.
The shareholders, which ASF presumes act in concert, hold a stake of 5.7% in SIF Oltenia, ASF said in a statement on Thursday.
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ASF has asked the group to cut its stake in the investment fund to the 5.0% legal limit within the following thee months.
"This decision revealed that SIF 1 purchased a 2.0% stake in SIF 5, while SIF 4 bought 3.0%," Raiffeisen Capital & Investment said in a note to investors on Friday, adding that it rates the news as neutral.