The European bourses were down around 2% at Bucharest closing time, on fears that Greece could exit the euro-zone, while the local market’s main index was down 1% to 4,651.26
Azomures closed up 7.1% on the day, at 2.18 (EUR0.49) lei a share, after the company’s new majority shareholder, Swiss trader Ameropa, announced a takeover bid for the shares it doesn’t own. Ameropa offers RON2.2 a share for a stake of 24.12%. The offer value might, thus, amount to RON281.7 million (EUR63.3 million).
Azomures’ increase could not offset declines of Banca Transilvania (TLV.RO), Fondul Proprietatea (FP.RO) and OMV Petrom (SNP.RO), three of the four heaviest issuers in the blue-chip index. Banca Transilvania closed down 3.6% at RON1 a share, Proprietatea fell 1.8% to RON0.499 per share, while Petrom stocks lost 0.9% to RON0.349.
BRD-Groupe Societe Generale (BRD.RO), another big constituent of the BET, avoided the selloff wave, as its shares rose 0.5 to RON9.8.
The Bucharest bourse’s composite index BET-C was down 0.83% on the day at 2,636.52, while investment fund tracker BET-FI closed at 20,207.6, down 1.16% from Tuesday.
The extended blue-cchip index BET-XT fell 1%, while energy stocks tracker lost 1.9%.
The overall traded value remained low, however, at just RON14.5 million (EUR3.2 million) Wednesday. Nonetheless, the value of share transactions of RON12.8 million was 40% higher than in the previous day.
Fondul Proprietatea was the most sought after stock, totaling trades of RON3.4 million. Proprietatea and Azomures, with a traded value of RON2.5 million, were the only two issuers that generated deals worth more than RON1 million. (EUR1=RON4.4587)