THE HAGUE, Aug. 20 (Xinhua) -- The two biggest pension funds of the Netherlands have lost millions of euros due to the share price drop of internet company Facebook, the Financial Daily reported on Monday.
According to the Dutch newspaper, the pension funds for civil servants APB and careworkers pension fund PGGM both invested in the internet share despite warnings of hype surrounding Facebook's initial public offering (IPO).
Last week, the share Facebook reached its lowest point. Launched at 38 U.S. dollars a share in May, Facebook is now trading at around 19 dollars.
Information registered with the U.S. financial service authorities showed APB owned 330,500 Facebook shares at the end of June this year, an investment which was worth 12.6 million dollars at the time of its stock market launch. PGGM owned 316,226 shares, which are now valued at 6.3 million dollars. Enditem