Catalin Chelu controls SIF stocks worth some €31 mln

In November, Chelu sold SIF shares to take part in the Transgaz Initial Public Offer (IPO), and following the offer’s oversubscription he was left with some of his money unspent.

Current law stipulates that shareholders may not own more than 1 percent of a financial investment company, either individually or with other investors, and are required to reduce their stock to under 1 percent within 3 months.

Chelu is one of the most active and visible Romanian investors on the local market, and is partner in several companies with SIFs. Some of these are used in turn as investment vehicles, such as Celule Electrice Bailesti, Mecanica Rotes Targoviste or Vulturul Comarnic. The former company increased its share capital by some €3 mln, with resulting funds to be used for the company's investments on the capital market. The businessman is part of SIF Moldova's audit Committee.