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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 01:40

Investors in Lithuania unhappy about changes to reporting frequency of listed companies

BC, Vilnius, 01.12.2015.Print version
Investors are unhappy about the decision of the Lithuanian Seimas [parliament] to allow listed companies to stop filing quarterly financial reports and warn that this will further reduce the already low liquidity of the stock exchange and undermine its attractiveness to investors, the Verslo Zinios business daily reports on Tuesday, reports LETA/BNS.

“Termination of the requirement to file quarterly reports due to the provisions of the European Union’s directives shows that the common EU policy is not always applicable in all EU countries,” Vytautas Plunksnis, chairman of the board at the Lithuanian Investors’ Association, told the daily.

 

“Taking into consideration the level of development of the capital markets in the Baltic countries, the publication of quarterly reports for some companies is the only material event which they file during the quarter. Hence the ‘reduction of administrative burden’ is likely to turn into silence while the investors who will see no results for six consecutive months will be left without guidance,” he added.

 

Meanwhile, Arvydas Jacikevicius, chief broker at SEB Bankas, believes that most of the companies will continue filing quarterly reports and the facilitated regime will only be used by small listed companies with low liquidity in their shares.






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