BUCHAREST, Aug 29 (Reuters) - Romania's capital market watchdog has launched a probe into the share deals of three Bucharest-listed companies owned by Rompetrol Group NV, struck on the day it announced it sold a majority stake.
Shares of blue chip issuer Rompetrol Rafinare , the group's flagship asset, lost some steam on Wednesday following the news but still traded at life highs, after gaining just under 30 percent in the first two days of the week.
Rompetrol Group NV, Romania's second largest oil firm, said on Monday it had sold a 75 percent stake to Kazakhstan's state-owned firm KazMunayGaz for an undisclosed amount. Auditors valued the group at $3.6 billion.
The news bolstered Rompetrol Rafinare shares, but also sent those of smaller Rompetrol Well Services and Rompetrol SA to record highs.
The securities commission said the probe, which also extends to the Friday transactions by the three companies, was launched on Monday after shares prices soared quickly, on suspicion that the sale announcement may have been improperly handled.
"First conclusions should be discussed ... later this week or early the next," a commission spokeswoman said. Rompetrol has denied the allegations, and said it informed the bourse of its actions through a public relations agency.
By 1010 GMT on Wednesday, Rompetrol Rafinare shares traded at 0.1360 lei, lower than a life high of 0.1470 hit earlier in the session but still the highest level since their 2004 listing. Shares were up 6.25 percent on the day.
Rompetrol Well Services was down 10.55 percent on the day, after Tuesday's 2.18 lei close. Rompetrol SA was traded 16.7 percent lower on the day after hitting a life high of 0.3120 on Tuesday.
"There is some unrest in the market related to the probe," said Alexandru Cristescu, a trader with Intervam in Bucharest.
The group's CEO, Dinu Patriciu, who retains a 20 percent stake indirectly, was charged last year with embezzlement, money laundering and stock market manipulation, related to various deals, including a 2004 stock sale and a debt deal done by Petromidia refinery.
He has repeatedly denied the charges and said the investigation was politically motivated.
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