PST Jumps Most in Year on Firebird Investment: Mover
- AB Panevezio Statybos Trestas (PTR1L), Lithuania’s largest publicly traded construction company, had its biggest intraday gain in more than a year after saying the U.S. investor Firebird Management LLC bought a stake.
The shares gained 7.4 percent, the most since Nov. 28, 2011, to 0.988 euro at 10:15 a.m. in Vilnius, valuing the company at 16.2 million euros ($21.4 million). Volume of 9,210 shares in 15 minutes of trading was about half the three-month daily average, according to data compiled by Bloomberg.
New York-based Firebird, whose funds invest mainly in publicly traded shares in eastern Europe, notified PST that it had bought 5.73 percent of the Lithuanian builder’s shares, the company said in a statement on the Nasdaq OMX exchange group’s Baltic website after trading ended yesterday.
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