Fondul Proprietatea shares yesterday broke the 0.6 RON/sharethreshold, hitting the lowest level since the January 25floatation. The 108m-euro profit of 2010, double the budgeted one,and the announcement on 50m-euro dividends did not manage to haltthe decline. Brokers say investors do not look at financial resultsand are selling to cash in on their profits.
On the high selling pressure, doubled by the little favourablemarket conditions, FP shares yesterday reached a 0.59 lei/sharelow. Against Tuesday, the decline tops 1%, while against the 0.65lei per share high reached in the first days of trading, thedecrease goes as high as over 9%. At a 0.59 lei price, the Fund'svalue on the Bourse stands at 8.1bn lei, 44% lower than theportfolio value.
"(...) The latest prices FP shares registered on the grey marketranged between 0.45 lei/share and 0.5 lei/share, and for many theprice at which the shares entered the Bourse, of 0.6020 lei, wastoo high. The previous benchmark on the grey market largelyinfluenced the trend of shares on the Bourse and drove investors'interest down after the first days of trading," believes MihaiChişu, a broker with IFB Finwest.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
