Fondul Proprietatea to sell part of its OMV Petrom stake via public offering – Romania, 23 September 2016

Franklin Templeton, Manager of the largest investment fund in Romania Fondul Proprietatea, announced that the fund will sell part of its stake in the Romanian subsidiary of Austrian OMV Group – OMV Petrom via secondary public offering on the Bucharest Stock Exchange and London Stock Exchange. The offering is expected to be completed in the fourth quarter of 2016.
Templeton said that the offering will consist of the fund’s owned shares only. The company will not raise new capital in connection with the public offering and will not receive any of the proceeds from it. With this partial exit, Fondul Proprietatea aims to enhance the trading liquidity of OMV Petrom’s shares while remaining committed as a long-term core shareholder to its successful development. The fund has not announced how many of its shares it plans to sell through this public offering.

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