Franklin Templeton Says More Energy Cos Should Be Listed In Bucharest

Franklin Templeton, manager of Romanian investment fund Fondul Proprietatea (FP.RO), Tuesday said it will try to convince the government to list on the stock market several key energy companies to improve their efficiency and boost budget revenues at the same time.

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Hydropower generator Hidroelectrica and nuclear power company Nuclearelectrica should be considered for listing on the Bucharest Stock Exchange, said Greg Konieczny, Fund Manager of Fondul Proprietatea.

Speaking at a press briefing after the fund's listing in Bucharest earlier today, Konieczny said Franklin Templeton mulls floating as many companies in the fund's portfolio as possible.

Romanian authorities recently announced plans to sell stakes of 15% each in a series of energy and gas companies, including Transelectrica (TEL.RO), Transgaz (TGN.RO) and Romgaz, where Fondul Proprietatea is also a shareholder.

Fondul Proprietatea, set up in 2005 to compensate Romanians whose properties were seized during communism, was floated in Bucharest Tuesday morning at a starting price of 0.6 lei (EUR1=RON4.2621) a share.

At around GMT1033, the fund traded at RON0.65 a share.

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