Morgan Stanley on Alrosa

ALROSA 1st Take: 4Q15 operational results show a higher rough diamond demand than expected January 28, 2016 PDF Print Share Industry View Stock Rating Price Target ALROSA remains our favored exposure in the Russia M&M space, but the diamond market is not out of the woods just yet. A combination of decent US holiday sales,Continue reading “Morgan Stanley on Alrosa”

Fondul news

EL RO: On the EGSM of today, shareholders agreed to resume negotiations with Fondul Proprietatea for the acquisitions of the Fund’s minority stakes in distribution and supply subsidiaries and to increase the number of Board members from 5 to 7. Resumption of talks with FP, which failed because on transaction price disagreements, was requested byContinue reading “Fondul news”

Distribution companies disposals should drive the Fondul Proprietatea NAV

Bloomberg Fondul Proprietatea may resume talks on Electrica units sale Fund sees potential listing of Enel, E.ON Romanian units Fondul Proprietatea SA, Romania’s largest closed-end fund, is waiting for the price of oil to start increasing and open a window of opportunity for listing some of its shares inOMV Petrom SA in London, saidGreg Konieczny,Continue reading “Distribution companies disposals should drive the Fondul Proprietatea NAV”

Swisscapital on Fondul offer

The sixth buyback programme kicked off on the 9th of September. FP aims at repurchasing 891,770,055 shares (and the equivalent GDRs representing) 7.97% of the outstanding shares. The Fund may not hold more than 10% of its own shares and currently own 227,572,250 titles (2.03% stake) acquired in the context of the fifth programme, completedContinue reading “Swisscapital on Fondul offer”

Fondul is starting 6th buyback program

Fondul just announced that the 6th buyback programme will commence tomorrow Sep 9th; up to 891.7mn shs may be bought back until Nov 15 2016; buyback is applicable to both shares and DRs. Goldman Sachs is the agent for the buyback. THey can buy up to 25% of daily volumes