FSA gives the green light for listing of Fondul Proprietatea on the London Stock Exchange

The Romanian Financial Supervisory Authority (FSA) has approved eventually the Regulation regarding the listing on foreign EU markets through the depositary interests of shares listed in Romania, after the first unsuccessful attempt in November 2014, reads Mediafax.

As a result, Fondul Proprietatea is allowed to list on the London Stock Exchange, the announcement of the public offering being expected in the coming period.

FP’s secondary listing on the London Stock Exchange, approved by the Extraordinary General Meeting of Shareholders in April 2014 was expected to be carried out by the end of the last year.

By this secondary listing, FP aims at broadening the foreign investor base, increasing demand, as well as expanding coverage of investment banks or brokers.

The consortium of investment banks which will assist the FP on the listing has been selected after a process completed in December 2013: Jefferies International Limited as the sole United Kingdom financial adviser in connection with introduction and admission to trading of the Fund’s shares together with BRD Societe Generale and Swiss Capital as the local advisors, and Clifford Chance Badea as the legal advisor for the Fund.