Flanco Holding unloads 10 million Flamingo shares

The minority shareholder of Flamingo International (FLA), Flanco Holding sold on Friday;s trading session, a 1.31% equity position in FLA for 512,300 lei (123,800 euros), according to a notification remitted to Bucharest Stock Exchange.

The 10.24 million FLA shares were sold at an average 0.05 lei/share, thus narrowing Flanco’s equity exposure to 9.27% of IT&C retailer.

The majority shareholder of Flamingo is the founder of the company, Dragos Cinca with 25.19%, followed by Dan Adamescu with 17.54% via Astra Asigurare-Reasigurare and Nova Trade.

QVT investment fund holds 15.16% while Alexandru Ion Tiriac owns 5.12% of Flamingo as of March.

Flamingo International has a share capital of 77.9 million lei divided into 799.05 million shares at a nominal value of 0.1 lei.

The company now has a war chest of 36.61 million lei (8.84 million euros), according to Friday’s trading quotas of 0.047 lei/share.

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