Банкеръ Weekly



Only one of the four majority stakes offered for sale was sold in the first four days of the seventh centralized public tender held on the stock exchange. A hundred per cent of the capital of Agroassu company based in the village of Parvenets was privatized on August 2. The amount settled for acquisition of the state-owned processor of cybernetic technologies intended for the agriculture and food industry is BGN299.99,000 - BGN30,000 above the lowest price fixed.State-owned stakes in other 23 companies changed owners and shares of 22 were traded on the exchange on August 2, too. By August 5 they passed in the group of the completely privatized companies.In four days the State sold its whole stakes in 39 of the 123 companies offered for sale. Payments settled reach BGN1.2MN, of which BGN720.6,000 in real money and BGN471.3,000 in investment vouchers. The results include the sale of 23% of the capital of the Varna-based Galatex company (BGN55,000) which was later withdrawn from the tender. However, there was already a deal signed. The reason for the withdrawal was an order for distraint of Galatex shares issued by the Sofia District Court because of unclear ownership.One of the traded companies that provoked interest for a few days was Agrobusinessform. A 27.4% stake of its capital was offered on the stock exchange. Among the other traded companies were Chimco (2.13%), Stomaneni Trabi (4.8%), Momina Krepost (4.7%), and Agrochim (20%).Curiously, supply in return to non-cash means of payment at the seventh centralized tender was scarce. The companies included were not among the most attractive ones. Moreover, most of them have already been offered for privatisation and have failed to draw attention.The centralized tender will end on August 16. Experience shows that the beginning and the end of such biddings appear most impressive.

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