Romanian Daily Report - February, 26

Fondul Proprietatea: FSA approved the cancellation of the shares from the first buy-back program; Rumors that FP is planning to sell a stake of at least 5% in Petrom; Hidroelectrica reentered insolvency procedure

Fondul Proprietatea (FP RO): FSA approved the cancellation of the shares from the first buy-back program

After more than a year, FSA approved the cancelation of the shares from the first buy-back program and the implied reduction in the share capital. Thus, the third buy-back program of 253 mn shares could be launched after the publication of the decision in the Official Gazette. We see this piece of news as positive, especially in the light of future approvals needed from FSA such as the reduction of the share capital and the payment of a special dividend of 0.05 RON.

 

Fondul Proprietatea (FP RO): Rumors that FP is planning to sell a stake of at least 5% in Petrom

According to the media, FP has selected the intermediaries for the sale of a stake of at least 5% in Petrom. FP currently holds a total stake of 19%.

 

Fondul Proprietatea (FP RO): Hidroelectrica reentered insolvency procedure

The Appeal Court has annulled the decision which approved the exit of Hidroelectrica from the insolvency procedure. FP said that this decision was based on procedural reasons. The case will be resent to the syndic judge for a retrial. We consider that the news might trigger an increased volatility in FP shares due to higher uncertainty; we consider that this Court decision will not have any major impact on company?s activity in the short term; we will provide more info once more details will be available.

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TOP GROWING AND TRADING OF AGRICULTURAL RAW MATERIALS COMPANIES (2014)
Scoring Methodology by ERNST&YOUNG


 
#
COMPANY NAME
MCR TOTAL SCORING
 
1 ADM ROMANIA TRADING SRL 4,1375
2 AMEROPA GRAINS SA 4,0125
3 GLENCORE PROTEIN ROMANIA SRL 3,9875
4 CHS AGRITRADE ROMANIA SRL 3,9875
5 BRISE GROUP SRL 3,8500
6 NIDERA ROMANIA SRL 3,8000
7 AGRICOVER SRL 3,7250
8 INTERAGRO SRL 3,6875
9 INTERAGRO SA 3,5750
10 CARGILL AGRICULTURA SRL 3,4750