EnglishNova Trade is planning to acquire 93.38% in hotel company Lido - Bucharest (BSE:LIDO) for 19.65 million RON through an IPO, according to a preliminary announcement published on the Bucharest Stock Exchange (BSE). Nova Trade, run by businessman Dan Adamescu, intends to buy 11,561,337 LIDO shares for 1.7 RON/share. Vanguard has been selected to broker the IPO. The main shareholders in Lido are the Ministry for Small- and Medium-Sized Enterprises, Commerce, Tourism and Liberal Professions (42.87%) and Union International Center (10.63%). Lido has a share capital of 1,238,142.50 RON divided into shares with a face value of 0.1 RON. Since the beginning of the year, LIDO shares have gone up 14.74% to 2.1 RON on 25 July.
Nova Trade To Take Control Over Lido Hotel Co.
F.A.
Ziarul BURSA #English Section / 28 iulie 2008
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