Stocks of "Termoelektro" soon on Belgrade Stock Exchange

The first trading in stocks of Belgrade company “Termoelektro" on Belgrade Stock Exchange is scheduled for January 25, 2008.

Starting price will be 500 RSD per stock and, according to the web site of the stock exchange, total of 640,979 stocks will be offered for sale outside the stock exchange.

“Termoelektro" deals with construction, maintenance and overhaul of energy systems and, according to the data from the Belgrade Stock Exchange, it registered loss in amount of 394m RSD in 2006.

According to the web site of the Central Securities Registry, majority owner of "Termoelektro" is Russian company “Harvinter", which owns 69% of stocks. Last year, “Harvinter" bought 442,300 stocks from the Share Fund and minor stockholders for about 15.5m EUR, that is, it paid 35 EUR per stock.

Remaining stock capital is owned by minor stockholders, which have less than 0.1% of stocks, whereas 2.14% of stocks are public capital.