This Friday, March 18, is the last Friday in the Montepio fund units negotiate outside the PSI-20. On Monday, 21, will join the main index of the Portuguese stock market. But unlike the visibility brought by being the biggest showcase of the domestic stock market is still not clear when will return.
Asked by Business on when there will be compensation for the holders of these units, José Félix Morgado , the executive chairman of Montepio, leaves no certainties: “the strategic plan points to a resumption of a positive level of profitability as soon as possible This might happen – but do not want to commit to dates because [also] depends on external factors -. in the short term. “
the first 200 million units were for the scholarship in 2013. last year was subscribed over 200 million of these units, all of them in the hands of the Mutual Association, but this time have been admitted to trading, which means that 400 million units can exchange hands.
These securities, contrary to the shares, are not entitled to vote in the savings bank (not approve, for example, the president of the institution) and, so far, never gave a return to their holders. Since 2013 the Montepio have losses and, in 2015, this happened again with a net loss of 243 million euros. And it is not certain that there is profit in 2016.
These securities, which entered the market to be worth 1 euro, closed to quote the 58.1 cents on Thursday.
About entry into the PSI-20, determined by Euronext, the management of the Lisbon stock exchange, José Félix Morgado caveat that is something that does not depend on Montepio but sees positives. “I think this integration has the advantage give greater liquidity to the title. It also has a positive facet greater attractiveness in terms of investment.”
“For our part, [brings] a greater responsibility in terms of government company, “admits the former president of Inapa.
Already analysts polled by Business for a week noted that it is a title with little interest to invest.
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