Financial Services, Latvia, Transport

International Internet Magazine. Baltic States news & analytics Sunday, 24.06.2018, 07:52

Vitol group buys 19.62% stake in Latvijas Kugnieciba shipping company

BC, Riga, 15.06.2017.Print version

According to the notification, Vitol Netherlands has acquired 39,249,118 shares, equivalent to 19.62 % of the total voting capital of Latvijas Kugnieciba, for an undisclosed sum with settlement date June 15, 2017.

Due to the Vitol Group’s existing shareholding of 99,880,361 in Latvijas Kugnieciba, held through its wholly owned indirect subsidiary Ventspils Nafta, the Vitol Group’s total shareholding is equivalent to 69.56 % of the voting capital of Latvijas Kugnieciba.

Latvijas Kugnieciba share capital consists of 200 mln voting shares, and 39,254,159 shares account for 19.627 %. According to the company’s annual report, Fondo H Estonia held 19.62% of the company’s shares, Ventspils Nafta held 49.94 %, and the Latvian Privatization Agency held 10%.

None of the Main List shares showed gains on Wednesday. The biggest loss on the Main List was for Latvijas Kugnieciba whose shares declined 4.91 % to EUR 0.445.

Shares in Rigas Kugu Buvetava (Rigas KB) shipyard, the most busily traded stock on the Secondary List, remained flat at EUR 0.281.

Latvijas Kugnieciba shares generated the biggest turnover on Wednesday - EUR 21.982 mln, followed by Grindex pharmaceutical company with EUR 34,900, and Olainfarm drugmaker with EUR 25,800.

The total turnover of the Main List came to EUR 22.043 mln and EUR 3,600 worth of shares changed hands on the Secondary List.

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