Fondul Proprietatea - No major news, we are waiting for Hidro
Fondul released its Q3 results.
Announced its next special dividend (0.06 RON/share) which ex-div date
will be on 27th January.
No news on Hidroelectrica IPO. Fondul will continue to work with
regulators once the new govt. is in place.
80% tax applicable between 1 November and 31 March does not affect
Hidroelectrica yet, given that avg. monthly selling price is below RON
450 /MWh. At the moment i is hard to tell if the extra tax will be
extended after March.
There are 3 litigations in place regarding the valuation of Bucharest
Airport. Fondul does not plan on subscribing in the share issue at this
price, the Company would rather distribute the cash. So far no
adjustments were made to the holding’s NAV. Preference rights may be
used within 60 days starting from publishing in the Official Gazette.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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