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Tuesday, March 08, 2005

BT Securities acquires 5% of Napochim

Banca Transilvania's brokerage firm BT Securities has acquired 5.035% in plastic plates and parts manufacturer Napochim Cluj-Napoca, following acquisitions on the RASDAQ.

Napochim's shares are listed on the RASDAQ and the stake held by Banca Transilvania's brokerage firm is worth nearly 8bn ROL (0.2 million euros) calculated at the last trading price on Friday of 3,400 ROL per share.
BT Securities officials were unavailable for comment. Napochim is controlled by the Employee Association, with some investors buying shares amid expectations of a significant price rise due to possible disbandment of the association, which currently owns more than 51% in Napochim.

The company made some 89,000 euros in net profits last year against a turnover of 3.6 million euros. Its net profits were over 48% lower than in 2003, while sales were down 4%.

Posted by Mihai : 3/08/2005 01:56:00 pm