Chelu bought 4.76 million shares through 11 firms, at an average price of RON3.2, up 32% on the market price.
The company’s shares were subject to a great deal of trading Thursday, as a total 33.82% in the company was exchanged for RON38.8 million. Some RON21 million came from special transactions on the RASDAQ market, where the company is listed.
A 9.95% stake, 3.56 million shares, was sold by the Argus board president, Vasile Leu, who thus shrank his stake to 1.37%, from 11.32%.
In addition, SIF Oltenia (SIF5.RO) upped its stake by 3.32%, paying RON3.78 million. According to the latest reports, prior to the transactions, SIF Oltenia had a 22.55% stake in Argus.
The company has a share capital of RON53.6 million, divided into 35.7 million shares, with a face value of RON1.5.
Argus holds an edible oil plant in Constanta and several cereal storage facilities in Constanta, Calarasi and Tulcea.
In the first quarter this year, the company posted sales of RON64 million, up 70% from RON37.7 million in the same interval of 2010. At the same time, net profit rose 26% on the year, to RON5.6 million. (EUR1=RON4.2717)