Site Error was encountered. Contact the Administator

Site Error was encountered

Severity: Notice

Message: Undefined index: HTTP_ACCEPT_LANGUAGE

Filename: models/mdl_lang.php

Line Number: 24

Site Error was encountered. Contact the Administator

Site Error was encountered

Severity: Notice

Message: Undefined index: HTTP_ACCEPT_LANGUAGE

Filename: views/header.php

Line Number: 2

«AgroInvest» — News — Templeton Asset Management Fund has cut its share in Agroton to 4.53%, down from 9.86%

Templeton Asset Management Fund has cut its share in Agroton to 4.53%, down from 9.86%

2013-10-10 17:23:03

According to the official report released by Warsaw Stock Exchange, Templeton Asset Management Fund, which has USD 53 billion worth of assets under management has cut its share in Agroton by 54% from 9.86% to 4.53%. The Fund has sold total of 1 164 765 shares with 982 703 shares still in possession.

UkrAgroConsult comment: Agroton capitalization dropped by 7.48% over the past week, which is reflective of its PPS drop, mainly due to transactions carried out by Templeton Asset Management Fund. We attribute the sale to several events: lower national rating for Ukraine, which subsequently led to lower ratings for Ukrainian companies, including agrarian sector; issues Agroton faced with assets frozen in Cyprus, and delay in dividend payments as the result. Finally, Agroton has just recently sold a company, which was one of the guarantors for dividend payments, which increased the risk of holding company’s share capital as well. These reasons combined were most likely the main ones that triggered the sale of Agroton shares by Templeton Asset Management Fund.

You may receive full version of the report by following the link.

In order to view sample Weekly UAIndex report, please follow the link.

 

 

UkrAgroConsult