9.3 C
March 2, 2021

Abrogation of 1 pc SIF stock threshold, investment opportunity

The Financial Investment Companies (SIFs) would become an appealing investing opportunity if the one per cent limit shareholding in them were removed, Banca Transilvania (BT) CEO Robert Rekkers stated yesterday according to Mediafax. The stock exchange legislation stipulates that an investor or a group of individuals who act in a concerted way may not hold any more than one per cent of the shares of a financial investment company. Should the threshold be exceeded, the shareholders are given three months to sell the excess shares. In other developments, on Thursday, BT released a loan for the SMEs guaranteed by the National Guarantee Fund for the SMEs, with an interest rate of 15 per cent for RON and of 9.5 per cent for EUR. The loan is designed to meet working capital needs including suppliers’, utilities, payroll and debt (including dues to the state budget) payments. On the occasion, the head of the National Fund that guarantees loans for SMEs, Aurel Saramet, said that within the “First House” programme, loans cannot exceed EUR 60,000 and the rest of funds will have to come from a different source.

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