Share Fund announces sale of shares of Fitofarmacija

The Privatization Agency has informed the public that it will offer for sale the shares of certain issuers quoted on the Belgrade Stock Exchange, including the Zemun pesticide manufacturer Galenika-Fitofarmacija. The Share Fund owns 5,472 shares of that company (1.24 percent of the total number) and it is the 11th largest shareholder.

The price at which the state plans to sell this package of shares is unknown, but it is for sure that the current price level meets the main criterion of the Share Fund: the price on the stock exchange must be above 50 percent of the accounting value.

In the previous period, the shares of Galenika-Fitofarmacija were traded the most when priced between 7,500 and 7,750 dinars, while the main buyer was the custody account of UniCredit Bank.

Galenika-Fitofarmacija turned a net profit of RSD 615.6 million in 2010, 2.1 percent more than one year earlier, while the shareholders are going to be paid a dividend of RSD 123.2 million from the registered profit, that is, RSD 280 gross per share.