ZF English

Voiculescu''s broker tops Rasdaq

02.06.2005, 20:09 7

The takeover of Cometex Suceava by Altex, the home appliances chain, in a 265.3bn ROL (7.3m euro) transaction on the Rasdaq has pushed Rombell Securities, which brokered the deal, to the number one spot among brokers for the month of May.

Rombell was the number one broker last month with a value of transactions of 269.4 billion ROL (7.44m euros) and a market share of 27.3%. The company is controlled by the family of businessman Dan Voiculescu. Rombell also ranked first among brokers last year thanks to its role in brokering the takeover by US company Cargill of Comcereal Alexandria.

The sale of Cometex, which owns a number of commercial spaces in Suceava County including the Bucovina shopping complex, has dominated the Rasdaq over the last two months. Initially, Altex offered a price of 572,000 ROL per share for the entire stake in Cometex. Two other companies also participated in the bidding: Celco Constanta and Winmarkt Bucharest, which is controlled by the Broadhurst invesment fund.

This transaction propelled Rombell Securities to fourth position for the first five months of the year owing to total transfers of 395.9bn ROL (10.8 million euros), nearly 5.3% of all transactions made over this period.

The second position on the market for May was occupied by BCR Securities, which handled transactions of 187.7bn ROL (5.2 million euros), or 19% of total transfers performed last month. Company representatives declined to comment on the results. For the first five months of this year, BCR Securities came in twelfth with a cumulated value of transfers of 224 billion ROL (6.1 million euros), giving it a 3% market share.

Third place was held by Vanguard with a value of brokered transactions totalling 69.3bn ROL (1.9 million euros), or 7% of the total transactions on the market. Market sources say Vanguard was one of the companies that handled the sale of the majority stake in Cometex for SIF Moldova. SIF Moldova owned 67.7% in the Suceava-based company. Between January and May, Vanguard brokered transactions through the Rasdaq with a total value of 246.3 billion ROL (6.7 million euros).

Compania Romana de Investitii (Romanian Investment Company) Investco was the fourth broker on the Rasdaq in May thanks to transactions worth 45.8bn ROL (1.27 million euros). The first five months of the year saw the company broker transfers worth 153.3 billion ROL (4.2 million euros), gaining it a market share of 2%.

The total value of transactions on the Rasdaq market in May was 554.7 billion ROL (15.3 million euros). andrei.chirileasa@zf.ro

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