Utenos takes on equity funds

  • 2004-03-25
  • Baltic News Service
VILNIUS - Foreign equity funds have acquired shares in Utenos Trikotazas, Lithuania's leading knitwear manufacturer, from the EBRD, which sold 28.6 percent of the company on the National Stock Exchange on March 19 for 30.3 million litas (8.8 million euros), or 5.35 litas a share.

Three equity funds - Amber Trust, Firebird and Danske Capital Finland - together own 28.6 percent of Utenos Trikotazas' stock. Amber Trust alone owns 16 percent.
Utenos Trikotazas' other major shareholders include the SBA concern, which held 46.47 percent of shares in the company as of September 2003, and Nijole Dumbliauskiene, CEO of Utenos Trikotazas, who owns 7.6 percent.
The consolidated net earnings of the Utenos Trikotazas group were 13.1 million litas in 2003, down by 3.4 percent year-on-year.