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June 26, 2022

Oltchim shares up over 5 pc

The Bucharest Stock Exchange followed the evolution of foreign markets and dropped by 0.76 pc in early trading, in a market where the volume of transactions did not exceed RON 2.6 M, but the shares of Oltchim (OLT) gained over 5 pc after changing the privatisation strategy of the chemical plant, Mediafax reports. Last week, the government decided to change the privatisation strategy, by selling through collective procedure the 54.6 pc stake controlled by the state, and of the claims held by AVAS and Electrica SA, accounting for RON 1.8 bln, or 56 pc of the company’s debts. Also, government extended by four days, to Sept 18, the Oltchim Ramnicu-Valcea Chemical Complex privatization tender date. “The sealed envelope tender, followed, if need be, by negotiation or open cry tender under the competitive tender rule, will be held at the headquarters of the Office for State Participations and Privatizations in Industry  (OPSPI) on September 18,”, OPSPI announced. The original government-announced date was September 14.

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