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Employee associations own stock exchange shares worth 167 million euros

Employee associations (PAS) own packages of shares worth 612 million lei (167 million euros) for 23 of the most important companies of the total 200 which PASs are involved in, all of which are traded on the electronic Rasdaq market and the Bucharest Stock Exchange (BVB), according to the latest data by BVB and the Central Depository, quoted by Business Standard.

The value of PAS packages dropped over 50 percent compared to quotation highs in the past ten months. The most valuable five PAS packages are Compa Sibiu, Timpuri Noi, Atelierele Grivita and Electromagnetica of Bucharest, and Artego Targu Jiu, worth 450 million lei (122 million euros), or 73 percent of the value of shares of the 23 companies, all of which are traded on BVB's Rasdaq market. All the other companies have a total capitalization below 10 million euros. The PASs are due to dissolve as soon as they pay debts they incurred by acquiring the respective shares from the state. Investors are waiting for this moment in the case of companies they are interested in, as shares owned by the PASs will be redistributed to them. Sursa: http://www.rompress.ro

Tags: shares million worth euros bvb