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CORPORATE NEWS

FNM sells 11.05 percent stake in Harmanecké papierne

During the third week of November, the National Property Fund (FNM), state privatization agency, sold an 11.05 percent stake (68,726 shares) in Harmanecké papierne Inc., Harmanec to O.K.L. Inc., way below its market value. FNM sold one share for 100 Sk, or one tenth of the nominal value, while the price on the stock exchange was 388 Sk on the day of the sale. In the course of 1996, it oscillated between 320 to 1,010 Sk. The FNM sold the stake to a completely unknown company at a price 19.8 million Sk lower than the actual market price. In the first half of this year, income per share of Harmanecké papierne was 201.3 Sk and the company has a 20 percent return on capital.

Top stories

Robert Fico has lost the electoral magic he once had Plus

But his party can still bounce back if they do the things that make parties resilient.

Robert Fico claims that Smer won the regional elections because it is the party with the most chairs in regional councils.

The ongoing struggle for a free and democratic Slovakia

The people of Slovakia deserve the credit for the remarkable progress that this country has made over the past twenty-five years, US ambassador writes.

Illustrative stock photo

How propaganda has learned to use the truth

The Czech Centre for Investigative Journalism analysed the information war in the Visegrad Group countries.

Migration crisis was one of causes for the rise in conspiracies and fake or hybrid news; illustrative stock photo

New legislation protects creditors from unfair mergers

Fraudulent mergers were a legal business model enabling unfair businesses to get rid of debts

Tightening conditions when merging companies will increase the red tape of lawful mergers and prolong this procedure.