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Lithuanian government to decide if to hire experts to evaluate Snoras shares

Irmanto Gelūno / 15min nuotr. / „Snoras“
Šaltinis: BNS

The Lithuanian government is to decide on Wednesday whether or not to hire experts to determine the real price of shares in the collapsed bank Snoras, but analysts say that there is a high probability that the shares will be worth nothing, the business daily Verslo Žinios reported on Monday.

Searching for experts would be the job of the Finance Ministry, the current owner of the nationalized bank's shares, it writes.

"Given the assumptions that the bank's liabilities exceed its assets, small shareholders may expect their shares to be valued at zero. This means that they will lose 100 percent of their investment," Tomas Pilipavičius, a member of the board of the Lithuanian Investors' Association, said after the bank's nationalization.

Before the nationalization, Vladimir Antonov owned 68.1 percent of shares in Snoras and Raimondas Baranauskas held a 25.31 percent stake. Another 31.25 million shares, or around 6.6 percent of the bank's capital, were in the free float. The total market value of the shares in the free float was 24.9 million litas (EUR 7.2 mln), or 0.231 euros per share, before the suspension of trading on the NASDAQ OMX Vilnius stock exchange. The shares were held by around 3,700 investors.

Naujienų agentūros BNS informaciją atgaminti visuomenės informavimo priemonėse bei interneto tinklalapiuose be raštiško UAB „BNS“ sutikimo draudžiama.
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