Autorius: DnB NORD bankas, Parašyta: 2007-08-27 10:13.
URL: https://www.traders.lt/page.php?id=528
Invalda, Lithuanian investment conglomerate, has released detailed documentation of its anticipated merger with one of its controlling shareholders — AB Nenuorama. While a welcome move in itself, bringing more transparency to the group’s structure, we see the deal conditions being detrimental to minority shareholder value, due to Nenuorama’s assets, co-owned with Invalda, being valued much higher than Invalda’s share price accounts for.
Should this go unnoticed by a critical mass of investors, we expect a downward pressure on the share price during the week.
Lietuvos Juru Laivininkyste, Lithuania based shipping fleet operator, has announced a decrease of –12.2% in its H1 revenue to LTL 47.3M. Same-period net result was down –35.8%, with an EPS of LTL 0.043. We expect the result to realize as a negative impact on the share price as soon as this week.
LAST WEEK: LIQUIDITY INJECTIONS MAKE THEIR WAY INTO THE EQUITIES.. AS MARKETS BOOM (BEFORE ANOTHER DOOM?)
Liepajas Metalurgs, Latvian cast steel manufacturer, has doubled its H1 y/y profit to LVL 8.25M, on the sales increase of +36%. The exciting news not only sent share price sky-high, but also generated unusual amounts of turnover for otherwise illiquid stock. Share price increase topped last week’s charts at +29.3%.
SAF Tehnika, Latvian communications equipment manufacturer, was one of only two positions to post negative returns during last week’s trading. The share has been suffering after management’s recently released bleak outlook for 2007, offering no reasons for improved expectations.
Parsisiųsti: Baltic market weekly review 
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