December 19, 2013 / 7:33 AM / 5 years ago

Romania Fondul Proprietatea completes second buy-back programme

BUCHAREST, Dec 19 (Reuters) - Franklin Templeton, the manager of Romanian restitution fund Fondul, said it completed its second buy-back programme through daily purchases on the bourse and a tender offer, worth an overall 962.6 million lei ($295.64 million).

The fund launched its buy-back programmes earlier this year, with daily purchases of shares from the bourse, in an attempt to lower its share capital and narrow the discount between its net asset value and its stock price.

For more details, please see ($1 = 3.2560 Romanian lei) (Reporting by Ioana Patran; Editing by Luiza Ilie)

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