The shares were traded at RON0.1 a unit, 17.22% lower than the reference price.
At 14:14 local time, Albalact traded up 5.37% on the day at RON1.275 a share.
Monday, Albalact’s general manager Raul Ciurtin has sold his 11% stake in the company to Cyprus-registered firm Crisware Holdings Limited for RON7.1 million (EUR1.5 million).
“It’s part of a rearranging strategy. My shares and some of the shares owned by my father (Petru Ciurtin -e.n.) have been transferred to a company I own and which I intend to use to conduct further business,” Ciurtin told Mediafax Tuesday.
Alabalact has a share capital of RON65.27 million. Main shareholders include Petru Ciurtin, with a stake of 31.74% and Cyprus-registered investment fund RC2 Limited with 25.44%.
The company reported sales of RON86.3 million in the first quarter, up 1% on the year. (EUR1=RON4.5378)