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BUCHAREST, Nov 15 (Reuters) - Romania’s restitution fund Fondul Proprietatea said on Friday a public tender offer initiated to pursue its second buy-back programme was finalised.
“Franklin Templeton ... would like to inform shareholders that, on 14 November 2013, the buy-back tender offer launched in the course of the second buy-back programme ended,” the fund said in a statement sent to the Bucharest stock exchange.
In a subscription which run from Oct. 15 to Nov. 14, a number of 10,518,820,351 shares were subscribed at a purchasing price of 1.0 lei per share.
It said intermediaries of the offer were Banca Comercial Romana and Wood & Company Financial. The settlement Services. The settlement date is Nov. 21.
Fondul Proprietatea, which was set up by the government to compensate Romanians whose assets were seized under communism, holds minority stakes in a slew of state firms, said “the daily execution of the buy-back programme will restart beginning with 25 November 2013 on the regular market.”
Reporting by Radu Marinas; Editing by Elaine Hardcastle