BUCHAREST (Romania), March 9 (SeeNews) – Romanian restitution fund Proprietatea [BSE:FP] has picked Czech brokerage house Wood & Company Financial Services to manage its planned share repurchase programme, the fund said late on Tuesday.
Further details were not available.
In September last year Proprietatea approved a plan to buy back up to 10% of its shares for a price of between 0.2 lei and 1.5 lei ($0.0665-0.4984/0.0477-0.3579 euro) per share until March 1, 2012.
The fund’s shares last traded 0.5% down at 0.5995 lei per share by 1249 GMT on the Bucharest Stock Exchange [BSE:BVB] on Wednesday.
(1 euro = 4.1909 Romanian lei)