Report
Research Team

WOOD Daily: RO Macro; EU Macro; CDR PW; NRP NA; OPL PW; TPEIR GA; NLBR SV; TGN RO

HEADLINES:
• Romania macro: PM Orban out, PNL government in
• Romania macro: USR Plus makes demands to form coalition with PNL
• Europe macro: too many fights at once
• CD Projekt: Cyberpunk 2077 scores 91 on Metacritic, based on 44 reviews NEGATIVE
• NEPI Rockcastle: sells URW shares worth EUR 75m, buys back its own POSITIVE
• Orange Polska: acquires 100% stake in Craftware for PLN 110m NEUTRAL
• Piraeus Bank: date for conversion of CoCos into shares
• NLB Group: press reports on ECB's approval for the KB acquisition
• Transgaz: regulator proposes 2% extra return for projects financed partially by EU funds
Underlyings
CD Projekt S.A.

CD Projekt is a holding company of the CD PROJEKT Capital Group which conducts its operations in two activity segments: CD PROJEKT RED and GOG.com. CD PROJEKT RED's activities cover the creation and publication of videogames, licensing the associated distribution rights and manufacturing tie-in products which exploit the commercial appeal of brands owned by Co. The activities of GOG Ltd. involve digital distribution of videogames via Co.'s proprietary GOG.com distribution platform, on the basis of contracts signed by GOG Ltd. with producers, IPR holders and external publishers. The platform enables customers to purchase games, remit payment and download game files to their personal devices.

NEPI Rockcastle Plc

NEPI Rockcastle is engaged in developing, acquiring and holding commercial properties, either directly or indirectly through the acquisition of listed equities.

Orange Polska S.A.

Orange Polska SA is a supplier of telecommunications services in Poland. Co. provides services, including fixed-line telecommunication services, Integrated Services Digital Network, voice mail, dial-up and fixed access to the Internet and Voice over Internet Protocol. Co. is one of Poland's three DCS 1800 and GSM 900 mobile telecommunications providers. Co. provides also third generation UMTS services. In addition, Co. provides leased lines, radio-communications and other telecommunications value added services, sells telecommunications equipment, produces electronic phone cards and provides data transmission, telephone directories, multimedia services and various Internet services.

Piraeus Bank SA

Societatea Nationala de Transport Gaze Naturale Transgaz S.A.

Provider
Wood and Company
Wood and Company

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.

Analysts
Research Team

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