Catalin Chelu Buys 23% In VES Sighisoara For RON2.1M

05.18.2011 ZF English

Debrocons, a Romanian company controlled by local businessman Catalin Chelu, Tuesday bought 22.97% in stoves and pots maker VES Sighisoara for 2.1 million lei (around EUR0.5 million), bourse data revealed Wednesday.

Debrocons bought 27.3 million VES shares, most of them from Bucharest-based brokerage firm GM Invest.

GM Invest sold 26.2 million shares in one transaction on the Bucharest bourse's deal market, for RON2 million, after buying almost 10% in previous sessions. The shares were sold at RON0.078 per unit, 13.04% higher than the market price.

VES has a share capital of RON11.8 million, divided into 118.8 million shares with a face value of RON0.1.

According to the latest reports, Chimsport Orastie, owned by VES board president Alexandru Farcas, holds 28.43% in the Sighisoara-based company.

VES shares closed Wednesday at RON0.0911, up 14.88% on the day. (EUR1=RON4.1184)