First auctions to sell state holdings held on Stock Exchange

State-owned shares in 27 joint stock companies will be put up for sale at outcry auctions on the Moldova Stock Exchange on March 20-23. In 13 of the companies, the state owns holdings of over 51%, Info-Prim Neo reports. Tudor Copaci, director general of the Economy Ministry’s Public Property Agency, said that the state sells its holdings in the tobacco plants located in Orhei and Soldanesti, in which it owns 85% and, respectively, 91% of the shares, the Falesti cleanup machine plant (94% of the shares), “Combustibil Solid” (78%) , “Raut” SA based in Balti (76.5%), “Apromas” SA located in Edinet (71.4%), the mechanic plant ArtMed situated in Chisinau (45%), Jolly Alon Hotel (34.0%), and other companies. ”These holdings haven’t been sold at the previous auctions. We decreased the prices by 5% to 20% and hope that the shares will be now sold, including to foreign investors. There are also many opportunities for the potential local investors,” said Tudor Copaci. The 27 holdings are worth 411.8 million lei, according to their initial selling price. The outcry auctions that will be held on the Moldova Stock Exchange form part of the first privatization round launched by the Public Property Agency this year. State property to the value of 800 million lei will be exhibited at outcry and discount auctions in the first round. New rounds will be held every two months. The state owns 25% of the patrimony in Moldova.