Transactions with shares of the Property Fund (FP) hit arecord-high in March, accounting for around 5.3% of the Fund'scapital, amid increased interest from foreign investors.
The 753.8 million shares traded last month amount to a 4.4 timeshigher volume than that traded in February - 170 million shares,and five times higher than in December 2009. In fact, in March2008, when it became possible to sell FP shares through the CentralSecurities Depository, until December 2009, around 21% of theFund's shares were traded.
"In March some of the most active buyers were Czech brokers atWood, an Irish fund, and American fund Elliott Management," said aperson involved in transactions with FP shares.
The rise in transactions comes in the context whereAmerican-held Franklin Templeton, which will take over FP'smanagement, pledged to have the Fund listed on the Stock Exchangeby September. From then on it will be more difficult for biginvestors to buy stakes in a non-transparent manner, as has beenthe case so far. For the time being, prior to the listing,transactions with shares are conducted based on agreement betweensellers and buyers, who meet via classified ads.
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