Share Fund sells 67.91% of stocks of detergent manufacturer "Hins"

The Share Fund announced yesterday (January 14, 2008) an invitation for sale of 67.91% of stocs of detergent manufacturer "Hins" from Novi Sad on the auction on January 31, 2008, at the starting price of 38.16m RSD. The stocks will be sold by the method of minimum price on the Belgrade Stock Exchange and deadline for applications is January 28.

Of total of 1.04m stocks of "Hins", 706,721 are offered for sale at starting price of 54 RSD per stock. The owner of 67.91% of stocks is the Share Fund, while the other stockholders have in their possession somewhat less than 0.2% of the stocks. Value of the market capitalization of the company is 113.44m RSD.

According to the prospectus of the company on the Belgrade Stock Exchange, the incomes of "Hins" in 2006 amounted to 40.34m RSD, whereas the expenses were 97.759m. "Hins" was privatized on the auction on October 11, 2004, at the price of 46.69m RSD, but the Privatization Agency broke the contract with the owner, Branko Jovanović, because he did not respect the obligations from the contract. "Hins" has 191 workers. According to the data from the prospectus, part of the property of "Hins" is under mortgage.