CHI moves to RASDAQ

The shareholders of Intercontinental Hotel Company (CHI), owner of the Bucharest-based Lido and Intercontinental and of the Rex hotel in Mamaia, have approved the company’s switch from the Bucharest Stock Exchange (BSE) to RASDAQ. “The shares will be delisted from the BSE and will be moved to RASDAQ,” Viorel Paunescu, the company’s chairman told Ziarul Financiar. “This is the best solution for us. The market is more transparent, more fluid, more liquid,” Paunescu said. CHI shares have a face value of 1,000 ROL each and are traded for about 500 ROL/share. Considering this price, the company’s market capitalisation revolves around 13 million dollars. ZF