Fondul Proprietatea, out of Conpet

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Fondul Proprietatea, the Romanian closed-end fund managed by Franklin Templeton Investments, sold its entire stake in Conpet, a state-owned company operating in the field of crude oil transport and listed on the Bucharest Stock Exchange (BVB).

The company’s shares increased by 0.18 percent on Friday, at RON 112.6/share. Since the beginning of the year, the company’s shares rose by 13.08 percent, and in the past month they have declined by 3.1 percent.

The day before, Dedeman, owned by the brothers Dragos and Adrian Paval, increased the shares number in Conpet from 1.35 percent of the company, to 7.413 percent, this being done on the secondary market transaction.

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