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Rising interest in Intercontinental: Shares up 73% over past month

Autor: Andrei Chirileasa

18.04.2011, 23:55 13

Shares of Intercontinental Bucureşti (RCHI) hotel company haveskyrocketed on the Bourse over the past month amid risingtransactions. The company has budgeted profit for this year, afternine consecutive years of losses.

Intercontinental company controls the five-star hotel of thesame name in downtown Bucharest. At the price its shares tradedyesterday, of 0.113 lei, the company's capitalisation stands at 94mlei (23m euros), 40m lei higher than a month ago, when the stockprice amounted to 0.065 lei.

The price has during this interval soared by over 73% amidrising transactions. Over the past month, more than 17.5 millionshares have been transferred, accounting for 2% in capital, with14.25 million shares being transferred through a deal completed inlate March.

During this interval, two buyers were reported on the Bourse,namely Astra Asigurări insurer, controlled by businessman DanAdamescu, who on Friday bought a stake of 260,000 shares, and ZetaSPV Development company, controlled by the same Adamescu family,which in early April acquired 20,500 shares.

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