Short term play on OMV Petrom

OMV Petrom is more than 10% down in the last two weeks despite the oil price increasing over that period. The reason is the mishandled SPO by second largest shareholder Fondul Proprietatea. The sale of 2.5% at 0275 draw the price down.

This already happened once in October. At that time the announcement of the sale drove the price down and after the SPO the share price rebounded. See

The current SPO was three times oversubscribed with allocations at 36%. Rebound expected.

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