Last auctions liquidating Investment Funds to be held in June

Estranging the assets from the investment portfolios of the Investment Funds (IF) – in process of liquidation – is to end by July 1. At the last auctions, they will sell the stocks held by IF in 120 joint stock companies, Info-Prim Neo has learnt from the Financial Market National Commission (FMNC). According to Elena Pui, an FMNC official, the last auctions are a challenge for potential investors, as the prices are low, and many companies from the Ifs; portfolios are viable, ending 2007 with profits. Among them: the winery from Taraclia, the Concrete Factory from Balti, Moldcarton, Aschim, Ceramica-T , Topaz, Raut, Balteanca, the Cereals Processing Company from Chisinau, Moldova-Tur and others. Another factor that may determine to buy those assets is, according to the expert, the fact that the legislation offers the exceptional possibility to buy them to insiders – people having access to confidential information of stock companies, to the price established by the liquidation commissions, and not by public offer as usually it is done. Already three IFs -- Exiton-Invest, Exiton-Bon and Credo-Invest – announced they would set the best price for their stocks held in ten companies. After July 1, the means gains from the sales will be distributed to the IF stockholders, depending on the number of stocks. If some stock packages are not sold out, then they will be given to stockholders instead of money. It will be very intricate as it may happen that a stockholder living in the country's south may be given stocks of a company in the north, says Elena Pui. She also told a news conference the huge rise of the number of stockholders is perceived negatively.