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Invalda Falls to 8-Month Low on Possible Split: Vilnius Mover

Invalda AB, Lithuania’s only listed investment company, fell to the lowest in eight months after saying shareholders would consider dividing assets into separate companies at a meeting next month.

The shares fell 5 percent yesterday and 8.1 percent today to 1.94 euros ($2.51) on the Nasdaq OMX Vilnius exchange in the Lithuanian capital, the lowest since Feb. 27. Volume today of 171,299 was the most since Aug. 9, 2011. The OMX Vilnius stock index declined 1.8 percent today to 346.19, a three-week low.

Invalda shareholders will consider reorganization “to split different investment strategies by risk and horizon into separate companies” at a special meeting on Nov. 20, the company said on its website after trading on Oct. 29. Invalda’s current investments include shares in Trakcja-Tiltra SA, Poland’s biggest publicly-traded railway builder, AB Vilniaus Baldai, Lithuania’s biggest producer of flat-pack furniture, as well as real estate, agriculture and IT companies, according to the company’s website.

Lithuanian media, including the BNS news service, the websites of Verslo Zinios newspaper and the Internet magazine reported today that Invalda’s largest shareholders had failed to reach agreement about the company’s strategy and may divide its assets among themselves.

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