Romanian investors should have priority over foreign ones in Petrom offering
Romanian individuals should entirely receive the shares they
will subscribe in the future stock sale offering the state will
carry out at Petrom, while for the other categories of investors
shares should be allotted in line with the subscribed sum
(pro-rata), maintains the Association of Capital Market Investors
(AIPC).
"Thus, the state will support the development of Romania's capital
market by favouring the shaping up of a mass of domestic investors,
who will this way see the stock exchange as an alternative to
banking deposits," says Dumitru Beze, AIPC chairman, in a notice
sent to CNVM (National Securities Commission) and the Economy
Ministry.
He has in recent years turned into a genuine "Robin Hood" of the
domestic capital market, supporting small investors' interests in
the face of abuse by majority shareholders in some of Bourse and
RASDAQ market companies and urging CNVM to improve investor
protection regulation.
AIPC also proposes CNVM not to allow subscription on the basis of
letters of bank guarantee, so that all investors should be offered
equal opportunity.