* The settlement of the trades of shares of "Biofarm" and "Mercur" Craiova, suspended for two weeks
The capital market watchdog, has suspended the execution on the BSE of the deals involving the shares that the Romanian state, through the AVAS, owns in "Biofarm" (BIO) Bucharest, "Agrana" România (BETA), "Mercur" Craiova (MRDO) and "Casstil" Bucureşti (CAST).
The stakes of in questiojn has been put up for sale on the special deals tier of the BSE, by the judicial executors of "Dobra, Coşoreanu & Dobra", through brokerage firm "Oltenia Grup Invest".
The ordinances of the Commission, which, according to sources, were passe after lengthy debates, come aftert he brokers have been placing sale orders for the blocks of shares of the AVAS, and succeeded in selling 6,000 shares of MRDO and 7.24 million shares of BIO.
However, the Commission has decided to suspend for two weeks the settlement of these trades, while at the same time prohibiting the sale of the shares for the moment.
The ordinances of the Romanian National Securities Commission have mentioned several complaints of the AVAS which indicate "potential violations of regulations specific to the capital market and of the legislation which concerns the privatization process". The ordinances state that, one of the goals of suspending the transactions, among others, is "to allow the verification of the compliance with the legislation in effect of the operations with the shares owned by the AVAS".
The "eye" of the Romanian National Securities Commission also turned on the BSE, because, according to some there is no legal framework to regulate the sale of the state"s blocks of shares, following the foreclosure of the AVAS, and the BSE shouldn"t have allowed the orders to be placed.
"The Code of the BSE says that the market participant (ed. note: the brokerage firm that in
