Mark Mobius Plans London IPO for Romanian Property Fund in 2011
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Fondul Proprietatea SA, the Romanian property restitution fund, will sell shares on the Bucharest Stock Exchange early next year and hold an initial public offering on the London Stock Exchange by the end of 2011, Mark Mobius said.
“For the local listing, new shares are not necessary, for a London listing in order to be successful you have to offer shares because otherwise brokers would not be interested,” Mobius said in an interview in Bucharest yesterday.