Fondul Proprietatea's audited net profit for the financial year ending December 31, 2021 was 5.012 billion RON, primarily due to the unrealized gain related to the 4.591 billion RON worth of equity investments at fair value through profit and loss generated by OMV Petrom as a result of the positive evolution of the company's share price in 2021 (increase of 537.1 million RON, 37.3 pct share price increase), as well as to the increase in the value of unlisted companies as a result of their valuation process (mainly due to Hidroelectrica SA, which saw a valuation increase of 3.912 billion RON).
(1 EUR=4.9480 RON)
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, Agerpres.ro informs.
The Fund is an alternative investment company whose investment goal is to maximize returns to shareholders and increase the value of net assets per share through investments made mainly in Romanian shares and securities. The Fund has been trading on the Bucharest Stock Exchange since January 25, 2011 and had its Global Depositary Recipes listed on the Specialist Fund Segment of the London Stock Exchange as of April 29, 2015.
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