Hyposwiss eyes Uzinexport

Austrian financial group Hyposwiss bought 8.85% in Romanian trader Uzinexport, as shown by the reports of RASDAQ, the market where the company is listed. The reporting was done after a number of major transactions were conducted at 15,000 ROL/share on the market. Calculated in line with this quote, Hyposwiss’ interest in the company cost some 480,000 euros. This acquisition enabled the Austrian group, which began investing on the Romanian capital market last year to become one of the most important shareholders of Uzinexport. Uzinexport’s only major shareholder until the Austrians came along had been Uzin International (20%). Significant stakes, yet lower than 5%, are held by some of Uzinexport’s employees. Hyposwiss has invested mainly through Danube Tiger in Romania over the last twelve months, a fund that had come to total more than 20 million euros in exposure on Romanian bonds and shares, which accounted for more than 20% of the fund’s total assets by late 2003. ZF