118 COMPANIES SOLD IN FIRST ROUND OF COUPON PRIVATISATION

( Editorial: --> 4724 ) ZAGREB, June 30 (Hina) - Out of a total of 471 companies presented at the first round of a coupon privatisation auction on Tuesday, 118 were sold, unofficial sources said. The second round will include 147 companies brought from the first round due to great demand, and 206 companies due to insufficient demand. Funds and individuals showed the most interest for tourist and food production companies, Assistant Privatisation Minister Damir Ostojic told Hina. Official results of the first round of coupon privatisation which began on June 15 and ended on June 26 will be published in two weeks, the time ministry representatives need to calculate the outcome. Ţhe second auction round will begin at the end of August, and the third at the beginning of November. The whole coupon privatisation process should end by the end of the year. Coupon owners can expect revenues as of the beginning of 1999 when they will be able to sell their shares. However, representatives of privatisation and investment funds have recommended that they not sell their shares during the first six months because their sale would cause their prices to drop on the market. Prices are expected to stabilise by the end of 1999. (hina) lml jn /mbr 301639 MET jun 98