Overview
Reconstruction Capital II is a closed-ended company created to invest in private and listed equity securities and fixed-income securities, including convertible and other mezzanine instruments, primarily in Romania, Serbia and Bulgaria.
Research History
-
05 Jul 2019 8 min read
QuotedData’s economic roundup – July 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
-
22 Feb 2019 2 min read
QuotedData’s investment companies roundup – February 2019
QuotedData’s investment companies roundup – February 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2019. Kindly sponsored by Baillie Gifford. December’s sharp sell-off in technology and growth stocks reversed somewhat in January. This was […]
-
19 Dec 2018 1 min read
QuotedData’s investment companies roundup – December 2018
QuotedData’s investment companies roundup – December 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2018. Kindly sponsored by Baillie Gifford. Extract from ‘winners and losers’ The Californian wildfires took their toll on CatCo Reinsurance as it […]
-
25 Apr 2018 2 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
-
07 Feb 2018 2 min read
QuotedData investment companies roundup – February 2018
QuotedData investment companies roundup – February 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2018. Kindly sponsored by Baillie Gifford. The oil price was up again over the month and this helped propel […]
-
16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
-
27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
-
13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
-
10 Jan 2014 3 min read
Private equity funds in 2013
2013 was a year of mixed fortunes for the listed private equity sector. Some funds did exceptionally well but others, particularly those exposed to emerging markets saw falling NAVs and widening discounts. The recovery in 3i : III ‘s share price following the disclosure of Sherborne’s stake building in the fund pushed it close to the […]
News
-
12 Jan 2018 2 min read
Reconstruction Capital II acquiring Policolor
Reconstruction Capital II acquiring Policolor – Reconstruction Capital II has signed conditional agreements to buy shareholdings in two Romanian-focussed investment funds whose main underlying asset is a 60% shareholding in Policolor S.A., a Romanian producer of paints and coatings, resins and chemicals with a substantial real estate portfolio. Reconstruction Capital already owns 40% of Policolor and, if the deal […]
-
20 Apr 2017 1 min read
Reconstruction Capital II sells Top Factoring
Reconstruction Capital II says that the Top Factoring Group has been acquired by Intrum Justitia AB. Accordingly, RC2 received yesterday a total of EUR 12.83 million (after the repayment of Glasro’s bank debts), and is due to receive a further EUR 0.28 million on 4 May 2017. Accordingly, the Company will have received a total […]
-
03 Apr 2017 1 min read
Reconstruction Capital II sells 93% interest in Top Factoring Group
Reconstruction Capital II has announced that it has conditionally disposed of 1) its 93% interest in Top Factoring SRL, a Romanian receivables collection company, and 2) the whole of the non-performing loan book held by the Company’s wholly owned subsidiary Glasro Holdings Limited (Glasro). Together these comprise the Top Factoring Group. The purchaser is Intrum […]
-
21 Sep 2016 1 min read
Reconstruction Capital II sells 25.4% stake in Albalact SA
Reconstruction Capital II has announced that its 25.4% stake in publicly quoted Romanian dairy company, Albalact, have been acquired by Lactalis at a price of RON 0.5252 per share (the company’s stake comprised 166,100,478 shares). The acquisition follows a voluntary public offer by Lactalis for Albalact SA previously announced on 5 August 2016. As a […]
-
29 Apr 2016 2 min read
Reconstruction Capital II reports small fall in NAV over 2015
Reconstruction Capital II has published accounts for the year ended 31 December 2015. On 31 December 2015, Reconstruction Capital II Limited (“RC2”) had a total audited net asset value (“NAV”) of EUR37.4m or EUR0.3736 per share on an undiluted basis, a 1.03% decrease over the year. The fully diluted NAV per share was EUR0.2847, an increase of […]
-
18 Apr 2016 1 min read
Best and worst performing investment trusts: Unloved commodity, Brazil and Russia funds finally come good
Recovery in commodity prices has boosted investment trusts specialising in the sector Investors also hoping for Brazil revival if leader Dilma Rousseff is ousted Biotech and healthcare hit by fears Democrat party will squeeze drug prices if they win the US http://www.thisismoney.co.uk/money/investing/article-3542148/Unloved-commodity-Brazil-Russia-funds-finally-come-good.html
-
28 Jan 2016 2 min read
Reconstruction Capital selling Albalact
Reconstruction Capital II has announced that it is selling its 25.4% fully-diluted interest in Albalact SA, a publicly quoted Romanian dairy company, to Lactalis. Lactalis is a dairy manufacturing world-leader company owning many successful international brands such as “President”, “Parmalat”, and “Galbani”. The Lactalis group now employs 75,000 people, and owns more than 200 plants, located in […]
-
08 Jan 2016 3 min read
Miton Global Opportunities underperforms in first half
Miton Global Opportunities, formerly Miton Worldwide Growth Investment Trust PLC, has announced its interim results for the six-months ended 31 October 2015. During the period, the company’s NAV total return was -4.4% and its share price total return was -2.8%. These compare against a return of -3.6% on the MSCI world and a 1.3% return […]
-
07 Oct 2014 2 min read
Reconstruction Capital II planning to issue loan notes
RC2 : Reconstruction Capital II planning to issue loan notes Reconstruction Capital II says it will hold a meeting on 29 October 2014 at which it will ask shareholders to approve the continuation of the company for two years until the AGM in 2016 and the issue of £8.45m of convertible loan notes. They say […]
-
18 Jun 2014 1 min read
Reconstruction Capital II : RC2 – annual results
Reconstruction Capital II has published its accounts for the year that ended 31 December 2013. The net asset value back then was €0.3287, down from €0.3933 at the end of 2012 but we already know that at the end of April 2014 the asset value had recovered a little to reach €0.3436. The reasons behind […]
-
20 Feb 2014 1 min read
Reconstruction Capital II : RC2 – NAV writedown
Reconstruction Capital II has announced that “Due to a recent severe deterioration in the financial condition of East Point Holdings Limited” it is planning to write down the value of their holding in this company from €6.7m to zero. The value of the whole company at the end of November 2013 was €39.3m so the […]