Plans for 3i and French shares
Sunday 11 June 1995
Meanwhile, Johnson Fry, the investment adviser, is offering UK investors the chance to buy into Usinor-Sacilor, the state-owned French steel giant that will be privatised next month for an estimated pounds 1.2bn.
Like British Steel before it, Usinor-Sacilor has recently been through a rationalisation pro- cess and finally returned to profit, making FFr2.1bn (pounds 276m) in the second half of last year. Gearing has been reduced to about 30 per cent.
French privatisations tend to favour small investors with about pounds 1,000 to put in. They get a modest price discount of about 5 per cent, although many individual applications are scaled back to pounds 500-pounds 600 per investor.
Johnson Fry is offering two privatisation package options - a service for stags who expect to sell and reinvest, and a longer-term deal for investors who want to stay the course.
Stags will put pounds 1,000 into the pot, plus a non-refundable fee of pounds 60. Johnson Fry will bid for the shares and sell them off when dealings begin.
Alternatively, long-term investors can put in pounds 4,800 plus a pounds 200 fee to buy stakes in the privatised companies as they come to market, and hold them to qualify for bonus shares 18 months later. Any uninvested balances are put on deposit.
On average, new stocks will be offered every three months - so an investor could expect the pounds 4,800 to be fully invested in less than two years, after which the stocks may be sold to rotate the proceeds for further investment.
The French stock market - like London's - had a tough time last year, but Johnson Fry says that investors who bought and held the first six issues over the past 18 months will be showing a profit of around 25 per cent, including currency gains.
o Tel 0171-321 0220 within the next two weeks to register.
The party's potential nominations read like a high school race for student body president
- 2 The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
- 3 Ball pool for adults opens in London
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 Baldness could soon be treated using stem cells, scientists hope
Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
Mia Khalifa: Pornhub star claims Drake sent her 'cringeworthy' naked photos on Instagram
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...