The shares ofcompanies on the Stock Exchange, which announced capital increasessince the beginning of the year have been in high demand amonginvestors after they had steered clear of capital increases in thepast two years, and were in a hurry to sell their shares in ordernot to be involved in such a move.
For instance,shares of petroleum equipment manufacturer Uztel Ploiesti (UZT),which is seeking to raise 4.7 million euros from its shareholders,climbed on the date when the company announced its intention toboost its capital, by 55% in just a few trading sessions.
The rises arereminiscent of the situation back in 2006-2007, when announcementsof capital increases on the Stock Exchange brought aboutsignificant increases for those companies' shares.
"A retail investorperceives capital increases as an opportunity to secure a stake ata significant discount from the market price, not as a right tokeep the stake in the company. For instance, their reasoning isthat they now have 20,000 shares and can have 60,000 sharespurchased at a lower cost, which will bring them an additionalprofit," says Adrian Lupsan, deputy general manager at brokeragefirm Intercapital Invest.
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