Fondul Proprietatea posted for 2022 an unaudited net profit of almost 2.77 billion RON, the main elements that contributed to this amount being the net gain from equity at fair value through profit or loss of 1.843 billion RON, and the gross dividend income from portfolio companies in amount of 934.9 million RON, according to Agerpres.

At the end of 2022, the Fund’s liquid assets were by 493.7 million RON higher compared to the previous year, with the most significant liquidity inflows coming from the disposal of the OMV Petrom stake (1.781 billion RON) and from the net dividends received (928.2 million RON), which were partially offset by the dividends paid, net of tax withheld at source (1.074 billion RON) and the amounts paid for the purchase of treasury shares (1.146 billion RON).

For 2023, Fondul Proprietatea is planning to run its 14th buyback program for a total number of 3,500 million shares in the form of ordinary shares and GDRs, at a price that cannot be lower than RON 0.2 per share, or higher than RON 3.0 per share.

Launched in December 2005, Fondul Proprietatea was created to compensate Romanian citizens whose property was abusively seized by the former communist regime. Following the international bid announced in December 2008, Franklin Templeton Investments officially took over as Investment Manager and sole administrator of the Fund on September 29, 2010.

Starting from April 1, 2016, in order to comply with the EU Directive 2011/611 regarding managers of alternative investment funds, the Fund is managed by Franklin Templeton International Services SRL.

Agerpres