Prefab on the Stock Exchange in three months, owner says

Businessman Marian Petre Milut, controlling around 80% in stock of Prefab Bucuresti (PREH) ACC and building materials producer has set a three-month deadline for him to list the company on the main market of the Bucharest Stock Exchange (BSE), with the floatation papers already submitted to CNVM for approval. Prefab stock is currently traded on RASDAQ market, having a quite low liquidity level, with daily transactions rarely going beyond the 10,000-euro mark. Milut has recently sold a stake of 200,000 Prefab shares, worth around 100,000 euros “for market volatilisation”. On the other hand, he’s in recent months bought Prefab shares on his own behalf and through Romerica International, with transactions handled by IFB Finwest brokerage. In 2008, Milut stated he considered delisting Prefab from RASDAQ, after the stock plummeted by over 90% from the 2007 highs and said that some brokers were manipulating the stock price. He reiterated the idea last year. Now, he says he plans to turn Prefab into one of the most attractive companies on the Bucharest Stock Exchange.