Pre-bankruptcy settlements boost shares of Ingra and Dalekovod

After a rise over the past two weeks, the stock indices of the Zagreb Stock Exchange fell this week – Crobx is down 0.44 percent compared to last Friday, while Crobex10 is down 0.60 percent. Crobex ended the week at 1,841.41 points, and Crobex10 at 1,038.94 points.

The regular trading volume this week amounted to 43.6 million kuna, which is about 20 million kuna less than last week.

The most traded this week were the shares of HT, with a trading volume of 9.6 million kuna, and their price increased by 3.25 percent on a weekly basis, to 183.48 kuna.

Following in trading volume are the shares of Ingra and Dalekovod, and this week’s news regarding pre-bankruptcy settlements for these two companies also influenced a significant increase in their share prices.

The shares of Ingra, with a trading volume of 3.2 million kuna, rose by 19.44 percent to 3.87 kuna. A pre-bankruptcy settlement procedure was initiated for Ingra this week, and the first pre-bankruptcy hearing is scheduled for October 11, Ingra announced at the beginning of the week. After the issuance of that decision, a notice about the unblocking of Ingra’s business accounts followed at the end of the week. The business accounts of this company had been blocked since May 2012, and the amount of the blockade on March 31, 2013, was 179.8 million kuna.

Dalekovod recorded a price increase of 25.95 percent this week, reaching 33.25 kuna, with a trading volume of 1.98 million kuna. This increase occurred in the week that began with a decision from the Constitutional Court, which annulled the decision of the Zagreb Commercial Court to halt the pre-bankruptcy settlement for Dalekovod due to the assessment of the constitutionality of certain provisions of the Law on Financial Operations and Pre-bankruptcy Settlement. The Constitutional Court also ordered that the pre-bankruptcy settlement procedure for Dalekovod continue without delay.

In terms of weekly trading volume on the Zagreb Stock Exchange, the preferred shares of the Adris Group follow with 1.96 million kuna and a price decrease of 0.90 percent, to 276 kuna.

The shares of Dioki, on the other hand, decreased by 1.74 percent to 28.25 kuna, with a trading volume of 1.8 million kuna.

More than one million kuna in weekly trading volume was collected by another six shares, of which two recorded a price increase – the shares of Ericsson Nikola Tesla increased by 0.59 percent and Atlantic Group by 2.24 percent, while the price of the shares of Luka Ploče remained unchanged, and three shares ended with a price decrease – Petrokemija by 0.08 percent, Ledo by 0.63 percent, and Valamar Adria Holding by 1.72 percent.

Among the more traded shares, a slightly larger price decrease on a weekly basis was recorded by the shares of Belje (1.51 percent), Vupik (1.96 percent), Podravka (3.04 percent), Ina (3.29 percent), Đuro Đaković Holding (3.38 percent), etc.