Local investors and foreign investment funds have been caught inthe rush of the over 1.1 billion-RON dividends of FondulProprietatea (Property Fund - FP) and are making last minute sharepurchases. Left out of this, however, are the former owners who donot know how they can get the dividends, even though the Fund wascreated precisely to compensate them.
The dividends of Fondul Proprietatea are the hottest topic ofthe moment, considering the 1.1 billion RON to be disbursed to theRomanian state, which owns 49% in the Fund, and to the more than4,000 private shareholders are a record high for the Romanianeconomy.
With less than one week left until September 27, the shareholderregistration cut-off date, the shares of Fondul Proprietatea havebecome increasingly more coveted and some people are willing to goas far as to trade apartments in downtown Bucharest, plots of landor cars for FP shares.
"I've got some plots I bought in the past few years that I want toget rid of. The land market is frozen now and I'd rather exchange aplot in the built-up area of Constanţa for shares in the Fund thatI can sell," said Cristi, who posted an ad for sale on the FondulProprietatea web forum.
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