29 Ianuarie 2009

Broker Cluj shuts down two secondary offices for a while owing to irregularities

Brokerage Broker Cluj announced it is to close down for a while two secondary units in Deva and Satu Mare to optimize local activities, because of the financial crisis which hit the capital market and owing to some irregularities found here.

The company asked the capital market watchdog CNVM to withdraw the license of the two offices, especially after it discovered some problems with the activity at the Deva unit. Operations will be taken over by the central headquarter in Cluj-Napoca.

Shares of Broker Cluj have been out of trading for more than an hour after this news reached the capital market and the stock collapsed 14 percent.

The company had a nine-month net profit of 3.45 million lei last year, a 9.5-fold fall over the similar period of 2007.

Revenues stood at 7.43 million lei, a two-fold drop over the first nine months of 2007 as trading on the bourse reduced drastically towards the end of last year, with the economic crisis settling in Romania too.

Broker Cluj has a share capital of 144.73 million lei, divided into 289.47 million shares at a face value of 0.50 lei. The company’s capitalization stands at 27.64 million lei. Shares are listed at the first tier of the Bucharest Stock Exchange under the symbol BRK.

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