Slovenian state-controlled funds to sell stakes in SCT, Jelovica, Svea
5. Slovenian state-controlled investment funds SOD and KAD plans to sell their stakes in SCT, Jelovica and Svea.
Nov 10, 2005. /Lesprom Network/. Slovenian state-controlled investment funds SOD and KAD said on Wednesday they called a tender to sell their stakes in the construction company SCT, wood processing company Jelovica and furniture manufacturer Svea worth a total of SIT 420.6 million ($2.1 million) in par value.
SOD and KAD own a total 357 462 shares of Jelovica with a par value of SIT 1 000 ($4.9) each. SOD holds 8 754 shares in SCT with a par value of SIT 5 000 ($24.5) per share and 19 378 shares in Svea with a par value of SIT 1 000 each.
SCT controlled 11.76% of the construction market in Slovenia at the end of 2004. It had a net profit of SIT 364.3 million ($1.8 million) last year, when its net sales rose by 3% to SIT 75.2 billion ($369 million). SCT net sales fell by 11% year-on-year to SIT 50 billion ($245 million) through September 2005.
Jelovica cut its net loss to SIT 30 million ($147 000) through July, from SIT 66 million ($324 000) in the same period a year earlier.