April 18 (SeeNews) - The shares of Romanian dairy producer Albalact [BSE:ALBZ], part of French group Lactalis, were withdrawn from trading on the Bucharest Stock Exchange (BVB) on Tuesday, marking the delisting of the company from the bourse.
In November 2016, Albalact's shares were suspended from trading on the BVB following the takeover of the company by Lactalis for 340 million lei ($80 million/75.1 million euro).
Albalact was established in 1971 and privatised in 1999. It owns 99.01% of the shares of Raraul Campulung Moldovenesc and 100% of Albalact Logistic, employing more than 1,000 people in the three entities.
Starting Tuesday, Albalact shares will also be excluded from the BET Plus, BET-XT, BET-XT-TR and BET-BK share indices of the BVB.
As announced last year, Albalact will be replaced in the BVB indices by cardboard maker Vrancart [BSE:VNC]. On Friday, Vrancart decided to use the capital market to attract fresh financing to expand its operations. The company has attracted 38.25 million lei from the BVB following the first issuance of notes which will start trading on Tuesday.
Vrancart listed on the main trading segment of the BVB in 2005. SIF Banat-Crisana [BSE: SIF1] owns approximately 74.7% of Vrancart's shares.
The structure of BET, BET-TR, BET-FI and BET-NG indices will not change following the replacement of Albalact by Vrancart, BVB added.
The BET-XT tracks the 25 most liquid companies traded on the main market, including Romania's five regional investment funds, the SIFs.
BET-XT-TR reflects the price performance of the top 25 most traded Romanian companies, as well as their gross dividends and cash distributions.
BET-BK is a free float weighted capitalization index of the most liquid 25 companies listed on the regulated market.
BET Plus is a free float market capitalization weighted index tracking 40 companies listed on BVB’s regulated market except the financial investment companies, that meet the minimum eligibility criteria, which refer to liquidity and the value of shares in free float.
Vrancart's shares were trading 1.56% higher at 0.1950 lei at 1023 CET on Tuesday.
(1 euro = 4.5231 lei)