Droga Kolinska loses Grand Prom
Droga Kolinska has lost its most important investment - Grand Prom in Serbia, after its new owner Atlantic Nalozbe (Atlantic Investments) has decided that Droga Kolinska should transfer Grand Prom to the newly formed company Droga Kolinska Investicije whose only owner is Atlantic Nalozbe.
- After transferring Grand Prom, Droga Kolinska will have much less property and capital - the daily paper Dnevnik writes today and adds "the revenues of Droga Kolinska will be much lower although its obligations towards banks remain unchanged".
The reason for such move by the only owner of Droga Kolinska - Atlantic Nalozbe - has not been revealed, but unofficial sources claim that it is concentration of trade activities of Croatian Atlantic Group, while Droga Kolinska keeps only production activities and certain marketing functions.
In that way, a profit from trade activities will go to Croatian Atlantic Group through transfer prices, while Droga Kolinska will remain only an affiliate.
According to Dnevnik, Grand Prom was estimated in June 2010 at 91.3 million euros and its transfer will cut the value of property of the parent company Droga Kolinska from 345 to 20 million euros, while its capital will drop to 100 million euros.
Droga Kolinska will transfer only the property and not the obligations to Droga Kolinska Investicije.
And while Droga Kolinska agrees to lose Grand Prom for free, Atlantic Investments has actually set aside only EUR 7,500 for the Serbian company, which is the amount of the principal capital of Droga Kolinske Investicije.
Trading in shares of Beograd Airport as of January 7 at starting price of RSD 641
Trading in shares of Beograd Airport on the Belgrade Stock Exchange will start on Monday, February 7, and the shares of that public company, which have been distributed among citizens for free, are already on their proprietary accounts, people at the Privatization Agency said today.
The citizens who have acquired the right on free shares will receive one share of Beograd Airport each, of which nominal value is RSD 600 and the indicative price for the first trading will be RSD 641.
Citizens can place an order for the sale of Airport's shares at windows in post offices and that service is free of charge, or they can trade through a broker, which will cost them a certain fee.
Orders are valid for 90 days and can be withdrawn at any moment.
A total of seven shares of the Share Fund, of which nominal value is RSD 550, have also been transferred to the proprietary accounts of the citizens who have acquired the right on free shares.
The packages of shares of earlier privatized companies and those to be sold are united in the Share Fund.
Trading in shares of the Share Fund should be made possible soon.
A total of 4.8 million citizens have acquired the right on free shares of public companies.
Each of them received in early 2010 five shares of the Petroleum Industry of Serbia (NIS), of which nominal value was RSD 500, and they will also receive free shares of Telekom and the Electric Power Company of Serbia (EPS), which are expected to be the most valuable.
The shares of Telekom will be distributed after the sale of that company, which is expected to take place in the first half of 2011, while a condition for distribution of shares of the EPS is that the company be transformed into a stock company, which is expected to happen during the next year.