Tudor Dumitru parts with 1.5% in Biofarm

Businessman Tudor Dumitru, one of the biggest Romanian investors on the capital market has sold around 1.5% in pharmaceuticals manufacturer Biofarm Bucharest, reducing his stake from 11.18% to 9.7%. It is likely that he obtained a yield of over 50% for these shares. Biofarm was quoted at around 0.35RON/share two months ago and reached 0.55RON/share last week. The value of the stake sold exceeds 800,000 euros. Tudor is the most important individual shareholder in Biofarm. He was one of the main buyers of Biofarm shares this year along with the SIFs. Due to the stake held he got a seat on the company”s Board of Directors. Biofarm was taken over by investors on the capital market his year, once its former chairman Robert Ferran sold his controlling interests on the market. The SIFs own about one third of the company together. SIF Oltenia holds the largest stake, some 14%, followed by SIF Moldova, with 9.8%. SIF Banat-Crisana has recently become one of the significant shareholders with 5.41%. ZF