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Foreign investors control almost half of listed stock on capital market

Foreign investors managed to control almost half of the listed stock on the capital market in Romania, namely 45 percent, whereas the domestic shareholders, including the Romanian state, still hold the majority of the capital, according to data provided by the Central Depository, institution in charge of the shareholders' registry for companies listed on the capital market.

This is the first statistics regarding the shares possession in companies listed on Bucharest Stock Exchange (BVB) recently released. Investors from Austria, France and Germany control almost a third of the listed stock, the main share packages being those of OMV (Austria) in Petrom, Societe Generale (France) in the Romanian Bank for Development (BRD), Vimetco (The Netherlands) in Alro or The Rompetrol Group (The Netherlands) in Rompetrol Rafinare. Value of foreign investors' share packages amounted, at 2007-end, at 14.5 billion euros. The stakes are in the possession of some 4,000 investors, according to the Central Depository. The other 55 percent of the capital of companies listed on the Stock Exchange are controlled by more than 9 million local shareholders. Most of them, over 8 million, have just a handful of shares in the Financial Investment Companies (SIFs), as a result of the mass privatization program (in the '90s, editor's note). The overall foreign direct investments in Romania, which also included part of listed shares acquisitions, stood at the end of 2007 at 36.6 billion euros. By comparison, since 2000, foreign investments in the Stock Exchange (acquisitions minus sales), which do not include privatizations, rose to 600 milion euros. Listed shares evolution was influenced in the past years to a greater extent by the evolutions on the international markets, under conditions in which foreign investors are more and more present on the market, both from the ownership point of view and transactions. Weight of foreign investors in the trading on capital market advanced steadily in the past years, amounting at almost half at 2007-end. Biggest participations held by foreign investors are the majority stakes of OMV in Petrom and of Societe Generale in BRD. Of the 14.5 billion euros, foreign capital invested in listed shares, almost 4 billion was represented at 2007-end by the package of 51 percent of OMV in Petrom, and 58 percent by the package of Societe Generale in BRD, slightly worth more than 3 billion euros. Value of packages held by foreign investors dropped dramatically this year due to a fall in prices as well as of the leu's depreciation (the national currency). Sursa: http://www.rompress.ro

Tags: listed foreign market billion euros shares capital investors stock almost control bvb brd

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