BUCHAREST (Romania), March 7 (SeeNews) - The manager of Romanian property restitution fund Fondul Proprietatea [BSE:FP] said on Friday it plans a secondary listing of the fund on the Specialist Fund Market of the London Stock Exchange (LSE) by the end of 2014.
Franklin Templeton Investment Management Ltd. has selected a consortium of investment banks to assist with the secondary listing made up of Jefferies International Limited as the sole UK financial adviser in connection with introduction and admission of the fund’s shares on the LSE and together with BRD Societe Generale and Swiss Capital as the local advisors, and Clifford Chance Badea as the legal advisor for the fund, it said in a statement.
Fungible trading between London and Bucharest is expected to be achieved via the use of Depositary Interests in the United Kingdom, the statement added.
New local and foreign investors will be attracted via separate placements of shares facilitated by existing shareholders through accelerated placements and/or individual trades on the regular market either at the same time or subsequent to the listing in London.
The recommendation will be voted at a general shareholders' meeting on April 28.