The Bucharest Stock Exchange acted strangely for the third time when it comes to Oltchim, in the last two months. Yesterday at noon, the Ministry of the Economy announced in a press release, that four potential investors (Pegamont Ploieşti of Romania, PCC SE of Germany, AISA Invest of Romania and JSC TISE of Russia) have submitted preliminary non-binding bids in the process for the privatization of the company of Vâlcea. Except the BSE did not halt the trading of the shares of Oltchim yesterday, nor did it disseminate the information to its shareholders.
BURSA has already reported about the strange behavior of the BSE in the case of Oltchim, in March.
On March 7th, the BSE did not deign to suspend the trading in the shares of Oltchim, when the information that the European Commission had approved the conversion into stock in favor of the AVAS of the 135 million Euros which Oltchim owed to the Romanian state was made public.
With a two-day delay, on March 9th, after the BURSA newspaper had reported on this situation, the BSE suspended trading in the stock of Oltchim, to check the news about the conversion of the debt into stock. Meanwhile, the investors had found out about the approval of the Commission from our newspaper and from other sources.
Also, on March 15th, when the announcement concerning the privatization of "Oltchim" was made public, trading in OLT was not stopped, and the BSE did not issue a communiqué on that subject.
In yesterday's press release, the Ministry of the Economy stated that the process for the submission of the preliminary, non-binding tenders for the privatization of Oltchim ended on April 17th, 2012, held by the Office of State Interests and Industrial Privatization (OPSPI), for the sale of at least 188,100,976 shares, representing 54.8062% of the share capital of the plant.
The privatization method us
