23 Martie 2009
Sixth financial investment company in the pipeline
The state assets recovery body (AVAS) announced today it has finalized the necessary paper work to set up a financial investment company (SIF) which will administer the 356 minority stakes AVAS holds in its portfolio, NewsIn informs.
Following the listing on the Bucharest Stock Exchange (BSE), the new SIF will provide investors with a very good liquidity which will allow them to rapidly enter and exit the market and to make speculations, as well as with a dividend yield above the average of the listed stocks and with a reasonable volatility.
“The state saves a lot of money by setting up this SIF, as all expenses with the individual recovery of stakes vanish,” according to the AVAS head Mircea Ursache (photo).
The new SIF assures an active role for the state in the current economic background by letting it act on the market in an equal position with the other participants.
Ursache announced on February 19 that AVAS planned to create a financial company SIF which would be listed at the local bourse as it fails to cash dividends from the 356 companies where it owns minority stakes and the management costs are huge.
“The state saves a lot of money by setting up this SIF, as all expenses with the individual recovery of stakes vanish,” according to the AVAS head Mircea Ursache (photo).
The new SIF assures an active role for the state in the current economic background by letting it act on the market in an equal position with the other participants.
Ursache announced on February 19 that AVAS planned to create a financial company SIF which would be listed at the local bourse as it fails to cash dividends from the 356 companies where it owns minority stakes and the management costs are huge.