SIF Muntenia to repurchase stock

SIF Muntenia will propose during its General Meeting of Shareholders the repurchase of stock, as a first step in the process of shareholder structure concentration, reads a company statement. “A powerfully coagulated shareholder structure can have a positive impact on portfolio management and can raise the fund’s competitiveness,” the release adds. The stake cap of 0.1% of the share capital was decided in 1998 by most shareholders, which owned, on average, 1,000 shares. This decision was meant to avoid traffic in certificates, which would have harmed the very essence of the privatisation process, according to SIF Muntenia representatives. The financial investment companies were listed on the Bucharest Stock Exchange in 1999. ZF