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Friday, April 19, 2024

State fund takes possession of EUR 15m in orphan assets

By: P.T., STA

The state-run Pension Fund Management has taken full possession of EUR 14.91 million worth of shares and accrued returns that their rightful owners have failed to move to payable trading accounts after free accounts were discontinued six years ago.

The assets concerned are left behind after the Central Securities Clearing Corporation (KDD) discontinued free accounts on which citizens had kept shares they received in exchange for privatisation vouchers during denationalisation in the 1990s.

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