BUCHAREST, Sept 30 Romanian restitution fund
Fondul Proprietatea will start a fourth buy-back
programme of about 7 percent of its issued shares on Oct. 1, it
said on Tuesday.
The 3.4 billion euros ($4.29 billion) fund, created to
compensate Romanians whose assets were seized under communism,
holds minority stakes in a slew of state-owned companies, some
of which are unlisted.
It has been buying back its shares in a bid to narrow the
discount between its net asset value and its share price, which
currently stands at roughly 26 percent.
The programme should cost at least 198.2 million lei ($56.76
For more details see
(1 US dollar = 0.7925 euro)
($1 = 3.4920 Romanian lei)
(Reporting by Luiza Ilie)