Brokers of "UniCredit" tempt SIF2 with "warrants" based on BCR stocks

The brokers of "UniCredit CAIB" Securities recently met with the officials of SIF "Moldova" (SIF2) to present them a with a solution for building warrants using the shares that SIF2 owns in BCR as their underlying asset, sources of the management of SIF2 confirmed for BURSA. In September, the brokers of "UniCredit" launched warrants based on the shares of the "Proprietatea Fund", which they had listed on the Frankfurt Stock Exchange.

Brokers of "UniCredit CAIB" Securities are not the only ones who are interested in helping the SIFs find a way to exploit their stake in BCR.

Another offer in this respect came early this summer, from the international investment bank "Nomura", whose officials recently met with the presidents of the five SIFs, with the goal of advising them on the matter of "liquidizing their BCR shares", according to a statement by sources who at the time did not wish to be named.

The listing of BCR on the Bucharest Stock Exchange, which was stipulated in the contract for the privatization of the bank, has become a hot topic lately, as the agreement concluded in 2009 between the SIFs and Erste, by which the listing of the bank had been postponed, is set to expire in a few months.

At the request of some of their shareholders, SIF "Moldova", SIF "Muntenia" and SIF "Oltenia" have summoned Ordinary General Shareholder Meetings, and have included on the Agenda taking the first steps for the listing of BCR. Aside from the requests of the shareholders, SIF "Oltenia" has also included the proposal for the shareholders to empower the management of the company to negotiate with "Erste" alternative methods of liquidizing its shares in BCR.