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Distribution of free shares starts on jan. 6
BELGRADE -- Those Serbian citizens with right to free shares will be able to obtain a certificate proving their ownership of five NIS shares as of Jan. 6, Beta reports.

They will also become owners of the shares of pharmaceutical company Galenika, telecom provider Telekom Srbija and the company managing the Belgrade airport, Aerodrom Nikola Tesla, some time during the year, Economy Ministry official Nebojša announced.

"The distribution of free shares will start on Jan. 6, when 4.8 million citizens will be able to obtain a certificate of ownership of five NIS shares, worth a total of 2,500 dinars in nominal terms, as well as 1,700 dinars from the sale of shares from the Privatization Registry," Ćirić said in an interview with Beta.

He explained that citizens will be able to pick up their certificates at all post offices, whereas the money will be deposited to the accounts the citizens had opened at post offices or banks when they applied for free shares.

"The citizens who get free shares can sell them by closing sale contracts, but they should know that a much higher price can be achieved on the stock exchange," Ćirić said.

He added that NIS shares are to be open for trade in the stock market as of mid-2010, while the shares of other public companies will be available for trade after the companies' transformation from closed into open joint stock companies.

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