ECONOMY

In Brief

Cyprus and Syria sign economic cooperation protocol DAMASCUS – Cyprus and Syria yesterday signed a protocol aimed at the further strengthening of bilateral cooperation in the fields of economy, commerce, industry, tourism, energy, research and technology. The protocol was signed by Cypriot Finance Minister Takis Clerides and his Syrian counterpart, Ghassan El-Rifai, within the framework of the fourth session of the Cyprus-Syrian Commission on Economic, Scientific, Technological and Industrial Cooperation, held in Damascus. The delegations also discussed ways to extend cooperation to agriculture, services and health. All closed-end funds but one trading at a discount at end-August All but one of Greece’s 23 listed closed-end funds were trading at a discount to their net asset values (NAV) at end-August, with Domus the only exception, the Union of Greek Institutional Investors (UGII) said yesterday. In the year-to-date, the Athens Stock Exchange’s investment company subindex is down 27.4 percent, slightly underperforming the bourse’s benchmark general index, which has lost 26.9 percent. UGII said the 23 funds had 1.98 billion euros ($1.93 billion) in total assets under management, down from 2.27 billion euros at the start of the year but up from 1.97 billion at end-July. It said the increase was due to the listing of a new fund, Altius Investments. (Reuters) Successful subscription Demand for Greek IT Lantec’s initial public offering for listing on the Athens bourse’s small-cap market outpaced supply 4.5 times over, the company announced yesterday. The offering was priced at 5.5 euros, at the highest end of the price range, raising 7.5 million euros. Lantec issued 1.3 million shares and placed another 65,000 privately. The company’s outstanding share total is 6,825,030, giving it a market capitalization of 37.5 million euros. The shares are expected to start trading in mid-October. Lantec is an integrated information technology solutions provider. Bank of Piraeus was issue adviser with National Bank the lead underwriter. (Reuters) Business portal. IT company Knowledge, a member of the LogicDIS group, and the Central Union of Chambers of Commerce (KEEE), developed and began the pilot operation of the e-BOSS (electronic Business One Stop Shop) Internet portal, it was announced on Tuesday. E-BOSS is a business-to-business portal with a database providing information for 140,000 Greek companies, more than 2,200 sector exhibitions in Greece and abroad, 50 sector studies and 200 offers for business cooperations. IPO cleared The Capital Market Commission announced yesterday it had given fish-farming company Interfish SA the green light for an initial public offering to list on the Athens bourse’s small-cap market. Interfish will be the seventh fish-farming company to list on the stock exchange after Dias, Hellenic Fisheries, Nereus, Seafarm Ionian, Selonda Aquaculture and Galaxidi Sea Farm. (Reuters)