Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Pieno Zvaigzdes Jumps as Russia Lifts Dairy Ban: Vilnius Mover

Don't Miss Out —
Follow us on:

Jan. 2 (Bloomberg) -- AB Pieno Zvaigzdes, Lithuania’s biggest dairy company, rose the most in more than three years in intraday trading after it said Russia ended import restrictions on the company’s products.

The shares climbed as much as 14 percent and traded up 9 percent at 2.03 euros at 10:40 a.m. in Vilnius, the highest since Nov. 4, valuing the company at 101 million euros ($138 million). Volume of 3,603 shares in 40 minutes of trading was 41 percent of the three-month daily average, according to data compiled by Bloomberg.

After banning dairy imports from Lithuania on Oct. 7 due to what it called safety concerns, the Russian regulator decided to re-admit Pieno Zvaigzdes products, the company said in a statement on Dec. 31. Sales to Russia account for more than 35 percent of Pieno Zvaigzdes revenue, Finasta investment bank analyst Tadas Povilauskas said in a note in October.

“Pieno Zvaigzdes will resume exports to the Russian Federation as soon as possible,” the company said.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.