Rompetrol Rafinare regains €26 mln

The behavior of the company’s shares on the market is very volatile (major short time price changes), with one of RRC's significant price thresholds being the nominal value of the share, at RON 0.1/share (some €0.0278).

Unfavorable market conditions led to a lowering of RRC's quotations below this threshold, with Friday’s closing price ending at RON 0.099/share (€0.0275/share).

The previous drop of the shares was fueled by the company's poor financial results. Net losses amounted to RON 62.8 mln (€18.7 mln) in the first nine months of 2007, increasing by 53.21 percent year-on-year. RRC is part of The Rompetrol Group, which was taken over by the KazMunaiGaz company from businessman Dinu Patriciu.