Oltchim shares significantly gained ground late last week, increasing more than 23%, after Premier Victor Ponta said the company will be sold “these months.” Economy Minister Daniel Chitoiu said Friday the government has approved a state guarantee for a EUR40 million loan for the company. Oltchim, which was placed under special administration late June with a view for privatization, will use the money to finance working capital and prevent further loss.
At around 10:38 am (GMT0738), the bourse’s composite index BET-C was 0.52% higher, and the main index BET was up 0.45%.
The BET-FI index, which tracks the five regional investment funds (SIFs) and Fondul Proprietatea (FP.RO), was only 0.01% higher. The wider BET-XT index was up 0.32%.
Energy tracker BET-NG inched 0.35% higher.
Overall trading in Bucharest was RON608,166 (EUR131,677). Proprietatea was top-traded issuer on the main market and was followed by Oltchim and SIF Transilvania (SIF3.RO). (EUR1=RON4.6186)