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International Internet Magazine. Baltic States news & analytics Saturday, 04.07.2020, 04:51

Vilnius bourse suspends trading in Grigeo shares

BC, Vilnius, 01.07.2020.Print version
The Nasdaq Vilnius Stock Exchange has on Wednesday suspended trading in the shares of Grigeo, a Lithuanian paper producer, at a request of the central Bank of Lithuania due to the delay of submission of audited annual report of Grigeo, writes LETA/BNS.

Trading will be resumed after the publication of Grigeo's audited annual report of Grigeo, the Vilnius bourse said.

Grigeo announced on June 30 that the audit of the company's annual financial statements had not yet been completed. Therefore, the company will not be able to publish its audited financial statements for 2019 on 1 July as disclosed in the company’s notice published on 7 April.

Grigeo hopes the audited financial reports will be published by July 15 at the latest.

The Grigeo group posted 13.233 mln euros in unaudited consolidated net profit, down 7.76% from 14.347 euros in 2018. its consolidated revenue inched down 1.6% to 140.274 mln euros, from 142.546 mln euros.

Ginvildos Investicija, a company owned by Gintautas Pangonis, owned 43.5% of Grigeo at the end of March, and Irena Ona MIseikiene had a stake of 13.07%. 

Grigeo is quited on the Nasdaq Vilnius Stock Exchange's Main List.

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