SIFs discuss capital increase

Representatives of the two companies, SIF Banat-Crisana and SIF Moldova, are expecting shareholders to agree to the capital increase. “If we were not optimistic, we would not have suggested the capital increase. Our shareholders are interested in free shares,” according to the SIF Banat-Crisana President, Ioan Cuzman.

However, brokers are more pessimistic about a quorum. “Shares are dispersed and it is difficult to convince small shareholders to vote, although the two SIFs advertised in a big way,” according to IFB Finwest brokerage company’s Deputy General Manager, Octavian Molnar.
Another financial investment company, SIF Transilvania, last year increased its share capital. However, one of the shareholders appealed the move and the new shares were suspended from trading. “Investors have unpleasant memories relating to the SIF 3 [Transilvania] capital increase, and we can also expect appeals this year,” said EFG Eurobank Securities Trading Manager Lucian Floroiu.