Free shares before privatizations

Economy Minister Mladjan Dinkic said that citizens will be able to receive free shares from public companies before they are privatized. He said that once the changes to a law defining rights to free shares in the process of privatization of large public companies is adopted on Wednesday, citizens will be able to receive the shares even before the privatizations take place. Free shares before privatizations He also announced that the shares of Serbian power company EPS would be handed out before the end of the year. Dinkic added that citizens will receive NIS shares this year, as well as shares from Telekom Srbija, the Nikola Tesla Airport, and those from the Shareholders' Fund, adding that the EPS shares would be distributed in 2011. “We want to distribute all the shares this year, except for EPS, and the prerequisite for that is for the Airport and EPS to be turned into shareholder societies, in order for the nominal value to be determined, Dinkic said. He explained that EPS and the Airport will not be privatized, but that the citizens will receive shares from these companies. Dinkic said that thus far, 4.8 million citizens have registered for free shares and that close to 150,000 workers in public companies have also earned rights to these shares. The minister explained that the proposed changes call for the Shareholders’ Fund to be abolished, after which its employees will move to the Privatization Agency, which will be the only body selling state shares in the future.

Free shares before privatizations

He also announced that the shares of Serbian power company EPS would be handed out before the end of the year.

Dinkić added that citizens will receive NIS shares this year, as well as shares from Telekom Srbija, the Nikola Tesla Airport, and those from the Shareholders' Fund, adding that the EPS shares would be distributed in 2011.

“We want to distribute all the shares this year, except for EPS, and the prerequisite for that is for the Airport and EPS to be turned into shareholder societies, in order for the nominal value to be determined, Dinkić said.

He explained that EPS and the Airport will not be privatized, but that the citizens will receive shares from these companies.

Dinkić said that thus far, 4.8 million citizens have registered for free shares and that close to 150,000 workers in public companies have also earned rights to these shares.

The minister explained that the proposed changes call for the Shareholders’ Fund to be abolished, after which its employees will move to the Privatization Agency, which will be the only body selling state shares in the future.