Compa is 54% owned by its employees and last year posted 475 million lei (EUR106 million) revenue and RON17.3 million net profit, as a result of an increase in orders from foreign customers. Market capitalization stands at RON110 million, and Compa is one of the most attractive stocks on the market. The stake that ING owns is worth about EUR1.3 million.
ING’s private pension funds have become some of the largest local stock market investors because of the increase in assets. The mandatory pension fund managed by ING is the biggest of its kind on the market, with RON3 billion in assets and 1.71 million members at the end of July. The fund gets almost RON80 million in new contributions every month, which its manager has to invest. It had RON426 million invested in shares at the end of July, mostly on the Bucharest Stock Exchange.
ING also manages two voluntary pension funds with RON237 million in assets. The two pension funds have RON42 million invested in stocks. (EUR1=RON4.4881)
(English version by Loredana Fratila-Cristescu)