* Compared to the first trading session of the year, the stock of Oltchim is eight times dearer
The shares of "Oltchim" are 3.4 times more expensive than they were a month ago, but to PCC SE they seem priceless. Well known for his fierce battle with the management of the plant, "Oltchim" minority shareholder PCC SE, has turned the Stock Exchange into a battleground: its people sat down in front of the keyboard and started buying, and apparently the company has a bottomless wallet.
While on May 11th, PCC SE reported buying shares of OLT at 0.5186 lei/unit, on June 6th, less than a month later it was wiling to offer sellers three times as much (1.49 lei/share). During this period, PCC SE spent 3.5 million Euros on OLT shares.
Aside from the support of the minority shareholder, for now, brokers have no other explanation for the evolution of OLT. Besides, in most of the sessions when it was present in the market, PCC SE accounted for more than half of the liquidity of the stock. Initially, analysts thought the rise in the price of OLT was caused by the plan of the Romanian state to privatize the company, which was a very good piece of news for the minority shareholder, who claims: "Privatization is the best solution for Oltchim, for its employees and for the community of Vâlcea, providing the best premises for the recovery and the development of the company".
At the end of May, Wojciech Zaremba, the representative of PCC SE Romania, said that the company was ready to cooperate with all the shareholders of Oltchim, which included both the majority shareholder (the Romanian state), as well as Carlson Investment Fund, in order to find solutions for the difficult situation that Oltchim was in. Also at the end of May, Artur Jedrzejewski, managing partner la "Carlson Private Equity", which owns about 12% of "Oltchim" Râmnicu Vâlcea, said that the
