Fresh efforts to kickstart Algerian programme

Article Abstract:

The Algerian government hopes to attract interest from foreign investors in a revitalised privatisation programme. It will put 134 companies from sectors including iron and steel, chemicals and textiles up for sale, with 20 companies set to become the subject of public bids shortly. Five state banks are to be restructured, and the Banque de Developpement Local will be privatised. There are also plans to privatise 13 hotels.

Algeria

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Programme faces delay

Article Abstract:

The Duma has failed to vote on the Russian state privatisation programme, following opposition from parliamentarians. The draft included details of 37 state-owned businesses planned for privatisation during 1998 and a further 29 companies with government shares. The Russian government is hoping to raise $2.4 billion via privatisation deals. Deals approved by presidential decree are to go ahead.

Russia

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Russian ADR programme

Article Abstract:

US-based stockbroker/dealer Brunswick Group has been given permission to trade ordinary shares in Russian companies with institutional investors in the US. The company has dealt in American Depositary Receipts (ADRs) since May 1996. Brunswick's Moscow office has said that around 15 new names are ready to issue ADRs in 1997, among them being oil producer Lukoil, Norilsk Nickel and Rostelekom.

Security and Commodity Services, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Marketing, Securities industry, American depository receipts, American depositary receipts, Brunswick Group

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