Daily comment:
OMV’s statement that it isn’t currently interested to make counter bid for Ina (INA-R-A) shares cooled Zagreb Stock exchange and popular benchmark declined by 1,1% to slightly above 3.600 pts level. Austrian oil company replied on Croatian Financial Service Supervisory Agency’s request that they are possibly interested in further privatization of Ina in case of public tender for Government’s 19% stake or War veterans fund 7% stake in company. That is main prerogative for OMV to give public offer for Ina shares. Since possible takeover competition between MOL and OMV currently failed, investors reduced its positions in Ina share which dropped 1,0% on more than HRK 50 million in turnover. Although lock – up period for part of ESOP shares expired yesterday, strong support on HRK 2.900 proved as intransitive. On AGM held today food & pharmaceutical company Koprivnica based Podravka (PODR-R-A) shareholders elected new management board, while former CEO became president of the Supervisory board. Investors awarded this decision, as Podravka share rose 0,3% collecting 0,6 m HRK turnover. The Co registered has increased brand sales as a result Co's strategy oriented on reinforced marketing activity of own brands, after termination of distribution agreement with Nestle in 2007. Podravka is also planning purchase of new brands, where it assigned total HRK 250 million on domestic and foreign brands acquisition. This year SBU Belupo acquired Sarajevo based Farmavita, second largest drug company with HRK 100 million turnover and 12% market share. In respect of changes on Croatian drug market, Belupo started negotiations with few pharmaceutical companies aiming to create middle size drug store chain to enhance market position. Construction & engineering company Ingra (INGRR- A) declined by 1,8%, on announcement that shareholders voted for dividend payout in amount of HRK 200 per share, share split in 1:150 ratio and possible recapitalization through new shares issuing in amount of max. HRK 150 million.
news flash:
- Vodafone Cuts Revenue Forecast
- World Business Briefing | Americas: Canada: $7.72 Billion Bid for Electricity Producer
- GE, Sovereign Fund Agree to Global Partnership
- Chief of BP’s Russian Venture Faces Visa Snag
CROBEX index - Zagreb Stock exchange -1,1%
change in 2008. -31,3%
Avg price change for CROBEX members (table)
market MULTIPLES -SHARES (table)
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FIMA FAS Ltd.
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http://www.fima.com
e-mail: fima-fortis@fima.com
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stock report20080722.pdf, 110 Kb
