WOOD Flash - Theon International: a look at the recent AGM resolutions and near-term catalysts
Following its recent ABB (3 June) and FY24 AGM (5 June), when some important resolutions were approved, we take a look at the near-term catalysts for Theon International’s (Theon) shares and we reiterate our BUY rating. We believe that the company’s rich list of catalysts in 2H25E, including new contracts news, potential M&A deals, and the launching of a share repurchase programme (approved during the FY24 AGM), may provide tailwinds for a further rerating of the stock. Theon’s shares are up 143% ytd and 21% since our initiation report, dated 17 April, while our 12M PT of EUR 37.60/share offers 23% upside potential currently.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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