CONFERINȚA Viitorul bursier al SIF-urilor și FP - Ediția a III-a
BURSA 20.03.2017

Adina Ardeleanu (translated by Cosmin Ghidoveanu)
 
mărește imaginea
Surprise element: even though there are market rumors that BT is allied with Pogonaru, it is possible it will support Tudor Ciurezu at SIF Oltenia.
     *  There are market rumors that the Banca Transilvania group, as well as Swiss Capital are the most important players in the elections
     *  The ASF can use sanctions for acting in concert to tilt the scales in favor of one side or the other
       The elections for new elections at the SIF are causing tumult on the stock market. What's at stake are the assets of 1.69 billion Euros of the five companies.
     With a maximum holding limit of 5% in each SIF, the shareholders have already made their nominations for the directors of SIF1 Banat Crișana, SIF2 Moldova, SIF3 Transilvania and SIF5 Oltenia and are at the stage of negotiating the lists. Shareholders have to forge coalitions, because the vote is not cumulative, and the calculations have to be done in such a manner that candidates have to get at least 51% of the votes from the present shareholders, if they are to get a seat in the next executive structures.
     Last minute betrayals and misleading rumors are nothing out of the ordinary, and one element that could change plans are the sanctions for acting in concert which the Financial Oversight Authority can issue. In the past, the predecessor of the ASF, the CNVM, decided that certain entities were acting in concert and restricted the voting rights for some shareholder groups, on the very night before two of the general shareholder meetings.
     The elections of SIF Oltenia have drawn the highest interest, so far, judging by the name of 17 candidates, with the main "attraction" being the 6% stake in BCR that SIF Oltenia has in its portfolio.
     There are rumors in the market that one of the most important players in this year's elections at the SIFs is the Banca Transilvania group, as well as the group led by Swiss Capital.
     There are some rumors that BT seeks a greater influence on all the executive structures of the SIFs, after four years ago, the president of Banca Transilvania, Horia Ciorcilă, and Radu Hanga, executive director of Strategy Coordination Department of Banca Transilvania, joined the board of SIF Moldova.
     Officially however, Banca Transilvania has recorded candidates only at SIF Moldova and SIF Oltenia.
     Other voices claim that Swiss Capital wants greater influence at the SIFs, at, coincidentally or not, it has two candidates for SIF2 and SIF5, and furthermore, it is close to SIF1 Banat Crișana and implicitly, SIF4 Muntenia.
     The interest of BT in SIF5 is demonstrated by the fact that the Group is moving Radu Hanga from SIF2 to SIF Oltenia, which has traditionally been the battleground between businessman Florin Pogonaru and current president Tudor Ciurezu.
     Even though there is talk in the market that BT has made an alliance with Pogonaru, some sources are saying that there is a strong possibility of BT supporting Tudor Ciurezu as well, aside from Ana Bobircă, nominated by investment fund Business Capital for Romania Opportunity Fund (BOF), controlled by Florin Pogonaru and Erste Bank.
     According to some market sources, BT and Pogonaru also support Cristian Micu, board member at the BSE, and Ștefan Filip, of the EBRD, for the management of SIF5. Ștefan Filip, who is also supported by SIF2 CEO Costel Ceocea, was nominated by Grigore Filip, who is the CEO of Aerostar, in which SIF Moldova, has a stake of 14.9%.
     There are some rumors that the Ciurezu side also includes Swiss Capital, but which has nominated Sorin Apostol and Ioana-Valeria Avram, nominated by two shareholders.
     Aside from Ciurezu, five members of the current Board of Directors, namely vice-president Anina Radu, Cristian Bușu (current president of Electrica), Victor Căpitanu (of One United Properties), Nicolae Stoian and Carmen Popa.
     Bogdan Iliescu, who sits on the Boards of Electrica and Transgaz, wants a seat on the Board of Directors of SIF5, as does Gabriel Crețu, of Adwisers Financial IFN, and Liviu Giugiumică, of Trident Capital Investments, one of the oldest brokerages on the Romanian stock market. There are rumors in the market that it is backed by funds in London, involved in the Romanian market, as well as a major real estate investor in Romania. The shareholders of SIF Oltenia have also nominated Dorel Berceanu and Mircea Oancea.
     With a battle of such scale, market sources are saying that all the candidates are making "pilgrimages" to the NN and Allianz funds for support.
     Things are still fluid at SIF Oltenia, and the elections of April 4th will show more clearly the alliances in the market, which will also matter later for SIF Banat Crișana and SIF Transilvania.
     On Friday, three "deal" transactions with SIF5 shares were made, representing 3.75% of the capital of the issuer in total, for a total amount of 41.38 million lei, at a price of 1.9 lei/share up almost 16% over the beginning of last week. Shares of SIF5 saw spikes of 4.15% and 3.63% in the two days that preceded the deals, which were made at a price 7.34% higher than the reference.
     At SIF Moldova, the current Board has proposed five candidates. The agenda also includes the proposal to cut the number of members on the Board of Directors from seven to five: Horia Ciorcilă, Octavian Radu, Iancu Cătălin Jianu, vice-president Claudiu Doroș and chairman Costel Ceocea.
     Swiss Capital has two nominations for SIF2 Moldova, namely Robert Cosmin Pană and Olimpiu Blăjuț.
     At SIF Transilvania, the elections will be held on April 28th, and over there, market sources expect a new confrontation between the shareholder faction that supports current CEO Mihai Fercală and that of Constantin Frățilă, one of the biggest shareholders of SIF3.
     The elections of SIF Banat Crișana will be held on April 20th. President SIF1 Bogdan Drăgoi and vice-president Octavian Avrămoiu each want a new term, just like the other board members Ion Stancu, Dan Weiler and Ionel-Marian Ciucioi. Aside from the current board members, three more individuals have submitted their candidacies: Marcel Heinz Pfister, deputy director Bank Alpinum AG, lawyer Radu Răzvan Străuț, who between 2010 and 2015 worked with Reff și Asociații, and Sorin Marica, former advisor in the Ministry of Tourism, former chairman of brokerage firm Active International and president of Dracula Park.
     Market sources are talking about disagreements at the top of SIF1, and given that SIFs have holdings in each others, their resolution will influence the vote that SIF1 will cast in these elections. 
 

 
Readers' comments    [ add a comment ] 
Aceeasi sectiune (English Section)
FINANCE MINISTRY SAYS THAT THE LIKELIHOOD OF DEFAULTS ON FIRST HOME LOANS IS LOW:
DAN PAUL, THE PRESIDENT OF THE ASSOCIATION OF BROKERS, TO THE COURT OF AUDITORS:
UPON THE INQUIRY OF THE BURSA NEWSPAPER CONCERNING THE AUDITING OF THE INVENTORIES
Actualitate - vezi toate știrile mai jos.
Politică, 20:15
DRAGNEA AȘTEAPTĂ "CU MARE INTERES" PACHETUL DE LEGI ÎN DOMENIUL JUSTIȚIEI:
     Liviu Dragnea a declarat vineri că așteaptă cu "mare interes" ca ministrul Justiției, Tudorel Toader, să vină cu un pachet de legi în domeniul justiției care să includă legea răspunderii magistraților, legea grațierii dar și măsuri administrative, avertizând că, dacă guvernul nu face acest lucru, îl va face Parlamentul.  detalii
Companii-Afaceri, 19:59
     Conducerea OMV Petrom, companie petrolieră controlată de grupul austriac OMV, propune distribuirea unui dividend brut în valoare de 0,015 lei pe acțiune din profitul net pe anul trecut, potrivit unui anunț transmis joi seara Bursei de Valori București (BVB).  detalii
Politică, 19:48
DRAGNEA, DESPRE VIITORUL ȘEF AL SIE:
     Președintele PSD, Liviu Dragnea, a declarat joi că "simetria folosită la cele două servicii (secrete) în trecut a fost o soluție sănătoasă și poate fi menținută" și și-a exprimat opinia că se poate găsi o soluție "acceptabilă" între actuala majoritate parlamentară și șeful statului, Klaus Iohannis.  detalii
Miscellanea, 19:30
     Țara noastră a realizat în 2016 cel mai mare salt pozitiv înregistrat vreodată de o țară, de 12 locuri, în domeniul politicilor de control al consumului de tutun, conform Scalei Politicilor de Control al Consumului de Tutun, precizează un comunicat de presă publicat pe site-ul Ministerului Sănătății.  detalii
Companii-Afaceri, 19:08
PE FONDUL EMBARGOULUI IMPUS DE RUSIA
     * "România a importat carne de porc de circa 343,6 milioane de euro în 2016"
       Piața noastră este invadată de carnea de porc adusă din UE, iar fermierii români sunt nevoiți, în aceste condiții, să-și vândă produsele la prețuri mai mici decât costurile de producție, conform Asociației Producătorilor de Carne de Porc din România (APCPR).  detalii
Ediții precedente
Newsletter Facebook Twitter YouTube LinkedIn RSS
Jurnal Bursier
23.03.2017
SIBEX
     După jumătate din programul de tranzacționare, ședința de la mijlocul săptămânii se anunța una mai slabă comparativ cu predecesoarele sale, în condițiile în care doar derivatul pe cursul de schimb...  detalii
23.03.2017
BVB
     Șapte dintre indicii Bursei de Valori București (BVB) au încheiat ședința de tranzacționare de ieri în scădere, în contextul în care a fost înregistrat un volum de tranzacționare de 30,46 milioane...  detalii
23.03.2017
BURSELE DIN LUME
     Acțiunile de pe piețele din Europa au urmat un curs negativ ieri, investitorii ridicând semne de întrebare cu privire la implementarea politicilor de creștere economică ale președintelui american...  detalii
22.03.2017
BVB
     * Lichiditate de peste 81 milioane de euro pe bursa locală
       Piața principală a Bursei de Valori București (BVB) a fost dominată, în ședința de tranzacționare de ieri, de finalizarea ofertei publice de cumpărare de acțiuni din cadrul celei de-al șaptelea...  detalii
22.03.2017
BURSELE DIN LUME
     Acțiunile tranzacționate la bursele europene au urcat ieri, îndreptându-se către cel mai ridicat nivel din ultimele 15 luni, în condițiile în care băncile au consemnat cel mai important avans din...  detalii
22.03.2017
SIBEX
     După ce, luni, tot volumul de pe piața sibiană la termen s-a datorat tranzacțiilor cu derivatul pe cursul de schimb euro/dolar, iar lichiditatea a fost extrem de redusă, ziua de marți se anunța una...  detalii
Cotații Internaționale

Curs Valutar

Curs valabil din data de 23 martie 2017
1 Dolar australian...
1 Leva bulgărească...
1 Dolar canadian....
1 Franc elvețian...
1 Coroană cehă...
1 Coroană daneză...
1 Liră egipteană...
1 Euro...
1 Liră sterlină...
100 Forinți maghiari...
100 Yeni japonezi...
1 Leu moldovenesc...
1 Coroană norvegiană...
1 Zlot polonez...
1 Rublă rusească...
1 Coroană suedeză...
1 Liră turcească...
1 Dolar S.U.A...
1 Rand sud-african...
1 Real brazilian...
1 Renminbi chinezesc...
1 Rupie indiană...
100 Woni sud-coreeni...
1 Peso mexican...
1 Dolar neo-zeelandez...
1 Dinar sărbesc...
1 Hryvna ucraineană...
1 Dirham emirate arabe...
1 Kuna croată...
1 Gram aur...
1 DST...
AUD
BGN
CAD
CHF
CZK
DKK
EGP
EUR
GBP
HUF
JPY
MDL
NOK
PLN
RUB
SEK
TRL
USD
ZAR
BRL
CNY
INR
KRW
MXN
NZD
RSD
UAH
AED
HRK
XAU
XDR
3,2243
2,3292
3,1689
4,2545
0,1686
0,6126
0,2327
4,5555
5,2790
1,4737
3,8047
0,2153
0,4980
1,0656
0,0734
0,4793
1,1670
4,2229
0,3367
1,3683
0,6132
0,0644
0,3769
0,2222
2,9725
0,0368
0,1555
1,1498
0,6142
169,4441
5,7520
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
click aici pentru cursurile pieței valutare - istoric
English Section
22.03.2017
AS THE PROPRIETATEA FUND POSTED LOSSES UNDER THE IFRS SYSTEM,
     * The offer by which the Proprietatea Fund bought back 640 million of its own shares, at a price of 0.91 lei per share, oversubscribed almost tenfold
     * The Proprietatea Fund is waiting for the approval of the ASF for a new capital reduction
       An issue raised by lawyer Gheorghe Piperea, last year - the fact that the Proprietatea Fund has reduced its share capital, even though it was posting losses in 2015, a fact which is prohibited by...  details
21.03.2017
GABRIEL PURICE, BRM:
     * "Our opinion is that approximately 20-25% of the Romanian population really needs the price of natural gas to be subsidized, while the rest can bear its liberalization", according to the Romanian Commodities Exchange (BRM) CEO
      * Purice: "The BRM has never supported or agreed to making it mandatory to trade all the natural gas contracts on the exchange"
     * (Interview with Mr. Gabriel Purice, President And CEO of the Romanian Commodities Exchange)
       The recent debates on the Emergency Government Ordinance 64/2016 concerning the liberalization of the natural gas market starting with April 1st have caused arguments in the Industries Commission...  details
20.03.2017
     * Interview with H.E. Mr. Kisaburo Ishii, The Ambassador of Japan to Bucharest
     * "I don't think that Japanese banks would be interested in opening branches in Romania at the moment"
     * "At present, JICA does not have the right to offer financial aid to new projects in Romania any longer"
     * "Bucharest is missing the big picture in what regards urban planning"
       His Excellency, Kisaburo Ishii, the Ambassador of Japan to Bucharest, arrived in Romania in October 2015.  details
20.03.2017
     * There are market rumors that the Banca Transilvania group, as well as Swiss Capital are the most important players in the elections
     * The ASF can use sanctions for acting in concert to tilt the scales in favor of one side or the other
       The elections for new elections at the SIF are causing tumult on the stock market. What's at stake are the assets of 1.69 billion Euros of the five companies.  details
17.03.2017
     * Bankruptcy trustee RTZ & PARTNERS SPRL has rejected their request of an addition to the agenda of the General Shareholder Meeting March 27th
       A group of "Romcab" (MCAB) shareholders, who together hold more than 5% of the company, has asked for an addition to the agenda of the General Shareholder Meeting of March 27th: the...  details
16.03.2017
AFTER IOHANNIS SENT THE LAW BACK TO THE PARLIAMENT
     The governor of the NBR will not have criminal and civil immunity for his position of president of the National Committee for Macroprudential Oversight, according to the new form of the law which...  details
15.03.2017
CRISTINA CHIRIAC:
     WTCB was created in 1994, as a joint Romanian-French company, in which the Romanian party held 55% of the shares. The World Trade Center București complex also includes the 4-star Pullman hotel,...  details
14.03.2017
     The signals on the domestic market, as well as the ones from the international markets, increasingly show us that the budget "fantasy" of the new government will be very costly for Romania,...  details
13.03.2017
FINANCE MINISTRY SAYS THAT THE LIKELIHOOD OF DEFAULTS ON FIRST HOME LOANS IS LOW:
     * MFP: "The fact that the ANAF will foreclose on the debtors discourages them from defaulting on their First Home loan payments"
     * Piperea: "The ANAF not only forecloses on the debtors, but it also charges penalties of 18% per annum"
     * Ministry of Public Finance: "The program stipulates the total loan cost to be equal to the 3-month ROBOR plus a margin of a maximum of 2% a year"
     * Analysts estimate that the ROBOR will rise in the coming years
     * Ciprian Dascălu, chief-economist at ING Bank: "In the second half of the year we expect upwards adjustments of the interest rate, amid inflation growth forecasts"
       The amounts paid to banks by the National Fund for the Guarantee and Counterguarantee of Small and Medium Enterprises Loans (FNGCIMM) for the First Home Program get recouped from debtors, through...  details
10.03.2017
     * The four big international audit and consulting firms - Ernst&Young (EY), Deloitte, KPMG and PricewaterhouseCoopers (PWC) - have drawn up the most important bailout banking programs
       Nongovernmental organization Transnational Institute (TNI) of Holland recently published an analysis of the costs and losses borne by the European taxpayers for the rescue of some of the important...  details
08.03.2017
FOLLOWING THE POLISH MODEL
     * BVB: "We are confident that such non-refundable loans could represent a sufficient stimulus for Romanian businesspeople to consider using the Bucharest Stock Exchange for financing"
       The management of the Bucharest Stock Exchange (BSE) wants the Romanian state to subsidize the listing costs for small and medium companies in Romania, following the Polish model, according to...  details
07.03.2017
SOURCES:
     * "Banks don't pay taxes unless they want to; between 2011-2015, out of the 46 banks, 19 paid a profit tax in some of those years, and the other banks never paid anything"
     * "The competent institutions should check whether banks with foreign companies are doing hostile takeovers of Romanian companies"
     * "Expenses with the sale of non-performing loans are fully deductible"
     * "Since 95% of the banking system is owned by foreign capital, banks could freeze the financing of Romania's economy"
       Romanian banks only pay taxes if they want to, as they have a very complicated profit reporting system, according to official, very reliable sources.  details
07.03.2017
     The Romanian gambling sector has the best regulations in Europe, which has been admitted in the meetings which the National Gambling Office (ONJN) had at the level of the European Commission and...  details
06.03.2017
DAN PAUL, THE PRESIDENT OF THE ASSOCIATION OF BROKERS, TO THE COURT OF AUDITORS:
     * Dan Paul: "Majority shareholder OMV is at risk of losing its 51% stake, and the Proprietatea Fund has already rushed to reduce its stake in OMV PETROM SA"
     * Energy Ministry: "So far we have obtained ownership deeds for most of the plots"
       The Financial Oversight Authority (ASF) could intervene, through the legal means that it has available, to ask OMV PETROM to proceed to the increase of the share capital through contribution in...  details
01.03.2017
     Steven Van Groningen confuses me with every one of his actions: "I care. That's why I was in that square", the Dutchman who is the president of Austrian bank Raiffeisen Bank, the...  details
.