Employee associations own stock exchange shares worth €167 mln

The most valuable five PAS packages are Compa Sibiu, Timpuri Noi, Atelierele Grivita and Electromagnetica of Bucharest, and Artego Targu Jiu, worth RON 450 mln (€122 mln), or 73 percent of the value of shares of the 23 companies, all of which are traded on BVB’s Rasdaq market. All the other companies have a total capitalization below €10 mln. The PASs are due to dissolve as soon as they pay debts they incurred by acquiring the respective shares from the state. Investors are waiting for this moment in the case of companies they are interested in, as shares owned by the PASs will be redistributed to them