PJSC Aeroflot Russian Airlines is an international air transport company which is engaged in operations in Russia. The principal activity of Co. is the provision of passenger and cargo air transportation services both domestically and internationally and other aviation services from its base at Moscow Sheremetevo Airport. Co. and its subsidiaries also includes activities comprising airline catering, the operation of a hotel and insurance services. Associated undertakings mainly comprise hotel and duty-free retail businesses. The principal business segments are airline operations, airline catering, hotel operations and other.
AK Alrosa PAO. AK Alrosa PAO (Aktsionernaya kompaniya ALROSA PAO or ALROSA Company PJSC), formerly AK Alrosa OAO, is a Russia-based company which is principally engaged in the exploration, mining, manufacture and sales of diamonds. Its operations include five Integrated Mining and Processing Complexes: Mirny, Udachny, Aikhal, Anabar and Nyurba located in the Sakha Republic; sorting divisions and diamond cutting and polishing division. The Company is a member of variable diamonds associations. It operates through several representative offices, branches and subsidiaries, including Alrosa-Nyurba OAO, Almazy Anabara OAO and Severalmaz OAO.
Moskovskaya Birzha MMVB-RTS PAO. Moskovskaya Birzha MMVB-RTS PAO (MMVB-RTS OAO) is a Russia-based integrated stock exchange that provides electronic trade organization, clearing and settlements on trades, depository and information services. The Company provides trading and settlement services in such segments of the financial market as foreign exchange (FX) market, federal bonds market, market of derivative financial instruments, cash equities market, corporate and regional fixed income market, commodities market, as well as market for state and municipal orders. The Company was established as a result of the merger between MMVB ZAO and RTS OAO. It operates through six branches and three representative offices. As of February 27, 2013, the Company's major shareholder was the Central bank of the Russian Federation with a stake of 22.47%. In January 24, 2014, the Company sold its whole stake in MMVB-IT ZAO.
Rostelecom PJSC provides communication services (including local, intra-zone, long-distance domestic and international fixed-line telephone services, mobile services), data transmission, Internet, Pay TV, VPN and data centers services, rent of communication channels and radio communication services in the territory of Russian Federation. Co. operates the main intercity network and the international telecommunications gateways of the Russian Federation, carrying voice and data traffic that originates in its own network and other national and international operators' networks to other national and international operators for termination.
Sberbank Russia is an open joint stock commercial bank. Co.'s principal business activity is corporate and retail banking. This includes, but is not limited to, deposit taking and commercial lending in freely convertible currencies, local currencies of countries where the subsidiary banks operate and in Russian Roubles, support of clients' export/import transactions, foreign exchange, securities trading, and trading in derivative financial instruments. Co.'s operations are conducted in both Russian and international markets. As of Dec 31 2014, Co. had total assets of RUB25.20 trillion.
Yandex is an internet and technology company that operates an internet search engine in Russia. Co. builds intelligent products and services powered by machine learning. Co.'s products and services are based on complex, unique technologies that are not easily replicated. Co. generates substantially all of its revenues from online advertising. Co. also generates revenues from its e-commerce offerings, classifieds and e-hailing service. Co.'s businesses are organized in the following operating segments: Search and Portal; E-commerce; Taxi; Classifieds and Experimental businesses.
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.
FTSE Index June review - No changes of index constituents in our Coverage Universe AT: Strabag - Haselsteiner Foundation proposes share buyback resolution to AGM (positive) CZ: CEZ - CEZ paid for small Gazprom contract in EUR, rumoured to have opened an account with Gazprombank (neutral) RU: Moscow Exchange - April trading is 8% yoy down, account balances undisclosed (neutral) RU: Petropavlovsk - A likely initiation of takeover by UMMC (negative)
MAGNIT PJSC (MGNT) Magnit notifies JPMorgan Chase Bank, N.A. of termination of the deposit agreement and GDR programme 20-May-2022 / 19:59 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Magnit notifies JPMorgan chase Bank, n.a. of termination of the deposit agreement and GDR programme Krasnodar, Russia (May 20, 2022): Magnit PJSC (MOEX and LSE: MGNT; Magnit, the Company), one of Russia’s leading retailers, announces that on May 20, 2022, the Company gave notice of terminati...
MAGNIT PJSC (MGNT) Magnit announces the coupon yield payment 20-May-2022 / 15:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Magnit announces the coupon yield payment Krasnodar, Russia (May 20, 2022): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia’s leading retailers, announces the 4th coupon yield payment against bonds. Please be informed that today PJSC Magnit fulfilled its obligation of the 4th coupon yield payment against bonds of the BO-002...
HEADLINES: • Photon Energy: discover a great solar growth proxy (BUY - initiation of coverage) • Komercijalna Banka: performing well, but remains expensive (stays SELL) • Immofinanz: CPI offer is attractive (downgraded to SELL) • Huuuge Games: 1Q22 adjusted EBITDA in line with our forecast, but 22% ahead of the consensus NEUTRAL • Enea: 1Q22 results review - fully in line with the preliminary figures NEUTRAL • PGE: 1Q22 results review - in line with prelims NEUTRAL • CA Immo: 1Q22 - recurring results broadly in line, another revaluation uplift NEUTRAL • Immofinanz: 1Q22 - numbers broadly in...
We see CPI’s bid for Immofinanz as attractively priced, and believe that investors should use the opportunity to tender their shares into the offer. We expect a strong take-up, and believe the trading volume of the shares could fall significantly after the offer expires. While the discount to book (a P/NRV of 0.76x) could seem wide, the offer implies around a 4% FFO yield. We see the earnings multiple as generous, especially against the backdrop of the recent market-wide sell-off, and Immofinanz’s exposure to both CEE (c.80% of rental income) and retail (over 50% of rental income). The FFO cou...
Komercijalna Banka continues to outperform the MBI Index, and is up 37.2% in the LTM, vs. 14.4% growth in the benchmark. This is attributable partially to the solid ROEs reported over the past couple of periods, backed by the bank’s very conservative balance sheet structure. Looking at our forward-looking multiple of 1.7x P/BVs for 2022-23E, the valuation seems relatively stretched. At such premia (108-115%), the stock screens as too expensive vs. the other banks under our coverage, in our view. On our new price target (PT) of MKD 9,119/share, which implies downside of c.24%, the P/BV multiple...
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