ZAGREB, Nov 6 (Hina) - The Zagreb Stock Exchange on Monday presented its new electronic means of transactions with shares from the Croatian Privatisation Fund (HFP) portfolio via the Internet.
ZAGREB, Nov 6 (Hina) - The Zagreb Stock Exchange on Monday presented
its new electronic means of transactions with shares from the
Croatian Privatisation Fund (HFP) portfolio via the Internet. #L#
Potential buyers will be able to purchase stock of companies where
the state has up to 25 per cent of shares on-line at auctions.
HFP president Hrvoje Vojkovic said the Fund had technically
equipped 121 companies to take part in this new system at the Zagreb
Stock Exchange, total nominal value being 157 million kuna
(US$18.25 million).
The HFP plans to offer for sale state shares of a total of 207
companies in which it has 25 per cent ownership.
The Zagreb Stock Exchange will distribute information on the
companies via the Internet, media and local offices of the Croatian
Chamber of Commerce.
This way, the Zagreb Stock Exchange said, participants of auctions
will be in an equal position regarding the availability of
information on the companies in question.
A novelty is also a variability of closing hours of auctions. this
would mean a time interval -- half an hour, for example -- during
which, after two hours of bidding, the auction can be closed at any
time. The moment will be established by a computer, and awareness
about this fact will stimulate buyers to offer their highest bids.
HFP stock transactions by the old model will be held this Thursday
for the last time, when trade will be replaced by the Internet
method.
(hina) lml jn