English
The National Securities Commission (CNVM) has decided to unfreeze the transfer of 39.57% (282.5 million shares) in aluminum smelter ALRO - Slatina (BVB:ALR). The transaction was stopped as the shares in question were the object of a litigation between ALRO and the State Assets Resolution Authority (AVAS). AVAS took ALRO to court to nullify the Shareholder Meeting resolution of June 23rd, 2005 to increase the share capital by 394.8 million lei. Later on, AVAS was replaced in the lawsuit by Fondul Proprietatea. On April 6th, the Olt County Court denied the motion to nullify the said decision.
According to SSIF Romcapital - Timisoara analyst Marius Soimosan, CNVM"s decision to unfreeze the ALRO shares should boost the price. Some 83,600 ALR shares were traded yesterday for prices between 7.95 RON/share and 8.15 RON/share. The overall value of the transactions was 673,381 RON. Soimosan believes that, at 8 RON/share, the company"s evaluation indices look very nicely. The PER index is currently 13, whereas market capitalization stands at 5.78 billion RON.
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