Coupon owners caught in selling fever

The number of individuals selling shares on the Stock Exchange tripled in the last year as the value of the shares grew, thus causing “coupon owners” – participants in the Mass Privatisation Programme – to increasingly sell their shares. According to data from the Stock Exchange, in March, over 123,000 Romanians sold shares on this market, against the mere 10,350 active

investors who bought shares. The number of sellers therefore exceeded 100,000 for the first time this year. In February, some 90,000 people sold

their shares on the Stock Exchange compared to 40,000-50,000 in the similar period of last year.

Most of those selling shares on the Stock Exchange are coupon owners who sell their shares and cannot be considered to be investors on this market. Unlike them, the number of share buyers on the Stock Exchange who are individuals has been fluctuating somewhere in between 10,000 and 13,000 for many months now. ZF