SIF Transilvania's top seven-month profit

SIF Transilvania has come out top of the financial investment companies in terms of profit derived in the first seven months of this year. Its seven-month profit stands at 561 billion ROL, equivalent to 322 ROL/share. Profit was over 200 billion ROL higher as compared to the results posted by the other SIFs. This solid figure was largely derived following Transilvania’s sale of a stake more than 5% in Rompetrol Rafinare (Petromidia) in the first half of this year, for which it received at least 550 billion ROL. SIF stock is being prevented from attracting investors’ attention due to speculations regarding a possible modification of the stock holding threshold, and also due to the fact that these companies are some of the best payers of dividends on the Romanian capital market. SIF Transilvania plans to give up, by the end of this year, its entire participation in Rompetrol Rafinare and will take steps to sell stock in other two companies. SIF Transilvania’s seven-month gains are higher than the entire profit derived during last year. As compared to its six-month results, SIF Transilvania added another 15 billion ROL to its profit. ZF