Romanian individuals should entirely receive the shares theywill subscribe in the future stock sale offering the state willcarry out at Petrom, while for the other categories of investorsshares 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 capitalmarket by favouring the shaping up of a mass of domestic investors,who will this way see the stock exchange as an alternative tobanking deposits," says Dumitru Beze, AIPC chairman, in a noticesent to CNVM (National Securities Commission) and the EconomyMinistry.
He has in recent years turned into a genuine "Robin Hood" of thedomestic capital market, supporting small investors' interests inthe face of abuse by majority shareholders in some of Bourse andRASDAQ market companies and urging CNVM to improve investorprotection regulation.
AIPC also proposes CNVM not to allow subscription on the basis ofletters of bank guarantee, so that all investors should be offeredequal opportunity.
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