TV maker Vityas now corporatized

VITEBSK, 18 May (BelTA) – The Belarusian TV maker Vityas has been privatized to create an open joint-stock company in the Vitebsk oblast, Vityas’ Deputy Director General for Property Management, Social and Ideological Affairs Alexander Petrushko told BelTA. The authorized fund exceeds Br200 billion, with over 5 million ordinary shares with the face value of Br44,000 each issued. The government owns 100% of the shares. The supervisory board and other management bodies have been set up, their official establishment is in progress. The corporatizing is supposed to increase the investment attractiveness of the company. Vityas is interested in attracting more floating assets for the sake of turning out more competitive products. The new status will certainly help find potential investors, stressed Alexander Petrushko. There are plans to reform another 20 enterprises owned by the government by the end of the year. The enterprises are listed by the 2008-2010 plan for privatizing facilities owned by the government, said representatives of the Vitebsk Oblast territorial fund for state property.

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