Fortis shares plummet at reintroduction

http://www.deredactie.be/cm/de.redac..._shares_plunge

Fortis shares plummet at reintroduction
(Belga)
Tue 14/10/08 18:19 (UPDATE) - The value of the shares of the Belgian
bank and insurance group Fortis yet again plunged this morning, when a
six-day suspension on trading was lifted at the Brussels stock market.

Fortis shares lost 64 percent of their value when they were
reintroduced on the Brussels stock market at 11 a.m. today.
(Belga)

During the day, the situation did not improve, with shares eventually
ending some 77.57 percent in the red. This also affected the Brussels
Bel-20 index, which was 4.77 percent down at the end of the day. A
disappointment for traders after yesterday's sudden revival.

Fortis shares have dropped some 90 percent since the start of the year
over fears that the bank did not have enough cash to pay for the
takeover of Dutch rival ABN-Amro.

This fear proved justified and Fortis was eventually split up in a
Belgian and Dutch part. The Belgian part was taken over by the French
bank BNP-Paribas.
Left with almost nothing

Fortis shareholders in Belgium are left with almost nothing. Shares
are only worth some 1.2 euros at present. One year ago, shares were
worth some 23.5 euros.

This weekend, it was agreed that thousands of small Fortis
shareholders will receive dividends in 2014, if the shares have
regained value at BNP Paribas by then.

Specialists estimate that this should not be more than a couple of
euros per share.

"Runge13" a écrit dans le message de
...
http://www.deredactie.be/cm/de.redac..._shares_plunge

Fortis shares plummet at reintroduction
(Belga)
Tue 14/10/08 18:19 (UPDATE) - The value of the shares of the Belgian
bank and insurance group Fortis yet again plunged this morning, when a
six-day suspension on trading was lifted at the Brussels stock market.

Fortis shares lost 64 percent of their value when they were
reintroduced on the Brussels stock market at 11 a.m. today.
(Belga)

During the day, the situation did not improve, with shares eventually
ending some 77.57 percent in the red. This also affected the Brussels
Bel-20 index, which was 4.77 percent down at the end of the day. A
disappointment for traders after yesterday's sudden revival.

Fortis shares have dropped some 90 percent since the start of the year
over fears that the bank did not have enough cash to pay for the
takeover of Dutch rival ABN-Amro.

This fear proved justified and Fortis was eventually split up in a
Belgian and Dutch part. The Belgian part was taken over by the French
bank BNP-Paribas.
Left with almost nothing

Fortis shareholders in Belgium are left with almost nothing. Shares
are only worth some 1.2 euros at present. One year ago, shares were
worth some 23.5 euros.

This weekend, it was agreed that thousands of small Fortis
shareholders will receive dividends in 2014, if the shares have
regained value at BNP Paribas by then.

Specialists estimate that this should not be more than a couple of
euros per share.

"Runge13" wrote in message
...
http://www.deredactie.be/cm/de.redac..._shares_plunge

Fortis shares plummet at reintroduction
(Belga)
Tue 14/10/08 18:19 (UPDATE) - The value of the shares of the Belgian
bank and insurance group Fortis yet again plunged this morning, when a
six-day suspension on trading was lifted at the Brussels stock market.

Fortis shareholders in Belgium are left with almost nothing. Shares
are only worth some 1.2 euros at present. One year ago, shares were
worth some 23.5 euros.



Still worth way more than shares in banks from Iceland.