Serbians to get "another free share"

Eligible Serbian citizens will this month receive one free share each, this time from the Belgrade International Airport Nikola Tesla.

Izvor: Beta

Monday, 03.01.2011.

12:37

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Eligible Serbian citizens will this month receive one free share each, this time from the Belgrade International Airport Nikola Tesla. The value of the share will be some RSD 600 (EUR 5.7). Along with five shares per citizen from the NIS privatization, this would bring the value of the package to just over EUR 30. Serbians to get "another free share" Three years ago, the citizens were promised they would receive EUR 1,000 from the sale of large state-owned companies. Privatization Agency Director Vladislav Cvetkovic told Beta news agency in Belgrade on Monday that Serbians who receive one airport share "will be able to trade with it in the stock exchange", but advised against selling, as its value is likely to go up. Other companies the state looks to sell are Telekom Srbija and the country's power corporation, EPS. "It will not be easy to reach the promised figure of EUR 1,000 in free shares, but the Agency will work to maximize the income from the packages that will be sold," said Cvetkovic. The value of the Shareholder Fund is now EUR 170mn, while 4.8 million eligible Serbians will receive five of its shares each, with the nominal value of the fund's single share at RSD 550 (EUR 5.2). Telekom shares will be handed out once the company has been sold, likely in the first half of 2012, while the EPS shares are expected to be given during 2012, when it has transformed into a shareholder society. Cvetkovic also predicted trouble in attempts to sell the remaining 200 companies slated for privatization, adding that since the start of the process in 2001, 2,400 of the so-called socially-owned firms have been sold, which brought some EUR 3bn into the state budget. Solutions to their status are still being sought for 70 companies founded by entities from other former Yugoslav republic. Cvetkovic revealed that the state is currently managing 240 companies that went through failed privatizations, and that the final list of professional managers to represent the state capital there would be made in the first two months of 2011. Vladislav Cvetkovic (Tanjug)

Serbians to get "another free share"

Three years ago, the citizens were promised they would receive EUR 1,000 from the sale of large state-owned companies.

Privatization Agency Director Vladislav Cvetković told Beta news agency in Belgrade on Monday that Serbians who receive one airport share "will be able to trade with it in the stock exchange", but advised against selling, as its value is likely to go up.

Other companies the state looks to sell are Telekom Srbija and the country's power corporation, EPS.

"It will not be easy to reach the promised figure of EUR 1,000 in free shares, but the Agency will work to maximize the income from the packages that will be sold," said Cvetković.

The value of the Shareholder Fund is now EUR 170mn, while 4.8 million eligible Serbians will receive five of its shares each, with the nominal value of the fund's single share at RSD 550 (EUR 5.2).

Telekom shares will be handed out once the company has been sold, likely in the first half of 2012, while the EPS shares are expected to be given during 2012, when it has transformed into a shareholder society.

Cvetković also predicted trouble in attempts to sell the remaining 200 companies slated for privatization, adding that since the start of the process in 2001, 2,400 of the so-called socially-owned firms have been sold, which brought some EUR 3bn into the state budget.

Solutions to their status are still being sought for 70 companies founded by entities from other former Yugoslav republic.

Cvetković revealed that the state is currently managing 240 companies that went through failed privatizations, and that the final list of professional managers to represent the state capital there would be made in the first two months of 2011.

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