The mysterious Swiss Sibelin is no longer part of Varteks’ ownership structure, unless it has hidden under some custodial account. According to SKDD data, in second place among the largest shareholders, instead of Sibelin, is the custodial account of Raiffeisen Bank with 209,338 shares (10.9 percent) of Varteks.
The largest shareholder remains Varteks itself with 25.4 percent of shares, although the upper limit for treasury shares is 10 percent over one year. Little was known about Sibelin, who held 8.9 percent of Varteks shares, except that it had an address in Šwitzerland (it was not listed in the company register), leading to the conclusion that it was a fiduciary company often established solely for the purpose of purchasing shares in other companies. Speculation also arose about a similar scenario as in the Spice affair, as the chairman of the supervisory board, Milan Horvat, through Fima Validus, was one of the larger shareholders. (M.B.)
