According to ZF’s calculations, the investment stands at about RON18.3 million. Firebird Management LLC is headquartered in New York and has offices in Estonia, Lithuania, Mongolia.
The manager invests in Russia, former Soviet Union countries, Baltic countries, Georgia, Kazakhstan and Balkan countries. Firebird Management operates 14 private funds focused on emerging markets and has approximately $627 million in total assets under management. The notification to Purcari came from Harvey Sawikin and Ian Hague, managers of Firebird Management.
Purcari has RON367 million market capitalization and several foreign funds among shareholders. Its shares are trading up 7.8% since the beginning of the year, on a traded volume of RON11.1 million, and down 32.3% over the past year, on a traded volume of RON122.6 million, Bucharest Stock Exchange data show.
The Moldovan winemaker posted RON302.6 million revenue in 2022, up 22% from 2021, above the previously announced 15%-20% target. The company will publish preliminary financial results on February 28, 2023.
(English version by Loredana Fratila-Cristescu)