Radu owns some 1 percent of SIF1 stock. This is the ceiling set by law for shares one investor may own in a financial investment company. Few investors own as much as one percent in SIF Banat Crisana, and these include Catalin Chelu, one of the top investors on the local stock market, investment fund Julius Baer, and the ING Group. The value of shares owned by Octavian Radu nears €600,000, given the SIF1 capitalization amounted to €57.7 million after Friday’s trading session on BVB. “I sold everything I owned and acquired SIF1 shares. I started buying when the price reached RON 1.5 (€0.35) [Ed. n. per share]. I will soon reach 1 percent and will stop buying,” Radu told Business Standard. He previously owned stock in BRD-Societe Generale lender and Petrom oil giant, Romania’s largest company.
“I went for shares with higher liquidity. I sold BRD [shares] cheap to buy SIF1 [stock] even cheaper. I never owned [shares] of Banca Transilvania lender,” the businessman added. Radu started acquiring SIF1 stock last fall, and said that these are the only shares he currently owns.
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