State-owned package of stocks "Tigar" soon on stock exchange

Minister of Economy and Regional Development of Serbia, Mlađan Dinkić, announced yesterday (January 22, 2008) that the state-owned stocks in Pirot-based "Tigar" would be soon offered for sale on the Belgrade Stock Exchange.

- The state, together with Pension Disability Insurance Fund, will join its share of 34% of stocks to the new issue of stocks of "Tigar" and offer it to the citizens on the stock exchange - said Dinkić during the visit to that corporation whose stocks are on A listing of the Belgrade Stock Exchange.

He added that his opinion was that that would be one of the most successful issues of stocks of some Serbian company and he announced changes in the Law on securities market prior to mid-2008.

- "Tigar" plans to increase its capital by issuing additional stocks, and we will use this opportunity to join state-owned stocks with the newly issued stocks in order to get as high price as possible, as well as to make it possible for the citizens to buy these stocks - said Dinkić.

As he pointed out, Tigar is one of the three leading export-oriented companies in Serbia.

- What encourages us is the investment in amount of 20m EUR that "Tigar" plans to spend on new footwear programs, technical tires and tire recycling units within next three years - said Dinkić and pointed out that development of Serbia depended on investments.

Minister of Economy and Regional Development has also visited Free zone "Pirot" and signed the protocol on cooperation with the municipal administration.