Belgrade, Feb. 08, 2010 (Serbia Today ) – The Ministry of Economy and Regional Development announced that the government approved amendments today to the Law on the Privatization Agency and the Law on free shares, which will allow citizens to receive shares of state enterprises before they are privatized.
The statement specifies that citizens will receive free shares of Telekom and Airport Nikola Tesla this year, as well as shares of oil company Naftna Industrija Srbije (EPS) in 2011.
These amendments introduce the formation of the Share Fund, which will not have management bodies or employees, with its portfolio of shares being managed by the Privatization Agency.
Amendments to the Law on the Privatization Agency envisage the merging of the Share Fund with the Privatization Agency, which will contribute to a rationalization in the number of employees and reduce costs.The process of free distribution of shares commenced on January 6, 2010, when citizens received free shares of NIS.
NIS should become an open joint stock company by June 30, 2010, after which citizens will be able to trade company shares on the stock market.
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