The fund’s subscribers will be allocated to other pension funds on the market. Albalact President targets 6.25 percent of Pomponio IPO

The President of dairy producer Albalact, Raul Ciurtin, plans become a shareholder in construction company Pomponio. He is to subscribe for over 6.25 percent of the company's initial public offering (IPO) to be launched on May 9 on Bucahrest Stock Exchange (BVB) .
"My initial target is 6.25 percent of the offer. I will decide later if I want to buy more or not, depending on market conditions," said Ciurtin. The shares for he wants to subscribe for are worth €830,000.
He said the Pomponio offer will not have problems in subscribing, although the market does not provide the best conditions, due to global financial crisis. Ciurtin expects Pomponio shares to have a strong growth on medium term. "I expect the company's value to double in a year," he added.
Architect Ioan Strajan reserved the right to subscribe 0.625 percent of the offer. Strajan and Ciurtin are part of the Pomponio’s Board of Directors.
The 14.6 million share (25 percent of share capital) to be launched by Pomponio on BVB are worth €13.34 mln.
Following this allocation, the they can transfer to another fund within 90 days without penalties.