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Nov 03, 2017 16:00 EEST
November 3 (SeeNews) - The share price of Croatian food producer Ledo [ZSE:LEDO], a member of ailing concern Agrokor, slumped a staggering 82.86% a few hours after trading in the company stock resumed on Friday morning after a six-month pause, Zagreb bourse data showed.
As at 11:59 am CET, Ledo's shares hit 600.0 kuna ($92.8/79.7 euro), data shows. At one point the price fell as low as 505.55 kuna.
Trading in Ledo's shares only resumed on Friday morning after it was halted on April 27, due to the company's inability to publish on time its audited 2016 financial statement and the first quarter 2017 report because of the financial crisis in Agrokor.
Trading in shares of seven other Agrokor units, which was also halted in April, resumed on Friday.
Late on Thursday, Ledo warned investors that the corporate guarantees it had issued for loans extended by creditors to Agrokor and the concern's associated and affiliated companies, in the total amount of 19.8 billion kuna, have been overdue since the start of state-run extraordinary administration of Croatia's largest private company.
Hence, shareholders and the investment public should take into consideration that information while assessing decisions on purchasing or selling the issuer's shares, Ledo said.
(1 euro=7.52952 kuna)
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