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3 billion euro gone from the cash balances of companies listed on the stock exchange

11 December 2011 / 16:12:02  GRReporter
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In the environment of limited liquidity and general economic uncertainty in the country, the companies listed on the stock market are seeking new capital either abroad (although the problem of financing is now spread among most countries on the planet), or by increasing the share capital, which, however, in today's circumstances is not at all guaranteed. In the category of companies which resorted this year to increase of the share capital (or companies which announced their intention to resort to it) fall "Forthnet", "HellasOnline", "ΑΝΕΚ", "Igeia", "Elektroniki", "Alpha Grissin", " Ikona-Ihos "," Ιmperio-Αrgo ", some of which failed to raise the capital that they wanted.

This is why many other companies (eg, "Nikas", "Boutaris", Audiovisual, Alapis, Interwood, Olympic Catering) either delayed, or did not resort at all to such actions.

Other companies chose to sell their subsidiaries (or their shareholder stakes in them). Here we can mention for example "S & B", which sold its bauxite associated activity to "Mitilianos", «Sciens», which sold «Oceanus Reinsurance», «Q & R», which sold 35% of «Computer Solution», «Imperio» , which sold its subsidiary «Venus Transportation», «PC Systems», which sold 44.9% of «Alfaware», as well as «Sato», which sold its subsidiaries in Germany and Turkey.

Among the "big ones" at the centre of attention is the sale of shares, owned by the National Bank of Greece in the Turkish Finansbank, and ΟΤΕ’s shares in the Serbian company Telecom Serbia. A sale of subsidiaries abroad is also the intention of "Piraeus" Bank (in Egypt) and the Agricultural Bank (Serbian AIK Banka, Romanian ATE Bank Romania). Let us recall that Eurobank reached an agreement with the Austrian Raiffeisen for the sale of 70% of the Polish Polbank, while Marfin Popular Bank sold its network of branches in Australia.

Tags: crisis stock exchange listed companies decrease in liquidity sales
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