The Latvian Shipping Company (Lasco), has finally fulfilled its long-held desire to privatize. After five years and four attempts at privatization, the government has sold 51% of its shares for Lats35.7 million ($59.3 million), putting the share price at Lats0.35. Lasco listed on the Riga stock exchange on July 1 and started trading at Lats0.30.
Lasco’s initial attempt to sell foundered as it looked for strategic investors that would provide new management, marketing skills and additional investment.
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