BUCHAREST (Romania), November 3 (SeeNews) – Shareholders of Romanian household appliances maker VES has cut the price in the secondary offering of a 42.1944% stake in the company to 5.9 million lei ($2.0 million/1.4 million euro) from 8.7 million lei sought earlier, the Securities Commission said on Tuesday.
The shareholders - one company and thirty-three individuals - will offer a combined 39,372,482 VES shares at 0.15 lei per share, down from 0.22 lei per share asked earlier this year, the commission said in a statement to the Bucharest Stock Exchange, BVB.
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They also extended the offering by 30 working days to December 21, it added.
Data from the Central Depository showed that as of June 30, W.B.S. Romania Bucuresti owned 11.58% of VES, individual investor Idifta Bucur held a 11.54% stake, and smaller investors owned the remainder.
VES shares were traded 8.97% down at 0.0715 lei on the BVB by 1140 GMT on Tuesday.
The company has revised its forecast for its 2009 financial performance, turning to expectations of a loss of 278,000 lei from an earlier planned gross profit of 1.17 million lei. It reported a net profit of 787,650 lei for 2008, 44% up from a year earlier.
VES (www.ves.ro), based in Sighisoara, central Romania, manufactures enamelled cookware, barbecue grills, stoves and other household appliances made of enamelled, painted or galvanised steel.
(1 euro=4.3062 Romanian lei)