* Mihai Chişu, "IFB Finwest": "This is the hand of investors that know what they"re doing"
* The liquidation of the company, mentioned as an alternative in the draft of the Letter of Intent addressed to the IMF
The shares of "Oltchim" gained 15% yesterday, in the first hours since the opening of the trading session, to the surprise of many investors and brokers, as the conditions of the draft of the Letter of Intent of the IMF published yesterday mentioned the possibility of the company entering liquidation unless it was privatized successfully by the end of this year. The government had previously announced that "Oltchim" might be put up for privatization in the second half of 2012, as postponing the sale by almost half a year seeming unrealistic.
Mihai Chişu, a broker with "IFB Finwest", considers that the 15% gain in the price of OLT recorded yesterday, came on the back of transactions of a relatively low number of investors who acted in a similar manner on other occasions since the beginning of the year. He said: "What is happening in Oltchim eludes the regular investor. I think that this is the hand of investors who know what they"re doing, the appreciation didn"t come on the back of a market movement. Either there are some people who strongly believe that the privatization of the company will bring major profits to those who own its stock, or they were influenced by the note of optimism brought about by the small but decided steps that the plant has taken recently towards restarting and operating in integration with the petrochemical division of Arpechim".
On Tuesday night, the management of "Oltchim" announced that the company acquired the installation for producing oxygen-nitrogen and the afferent plot of land of the petrochemical platform of Arpechim Piteşti, for an amount of 1.6 million lei.
Constantin Roibu, the genera
