Listed company Hellenic Fishfarming SA announced that a Multi Member First Instance Court of Athens has rejected its restructuring plan, but the aquaculture company intends to appeal the regulator’s decision. It added that it is still in search of viable solutions to continue its operations.
profit of 20 million euros in its first quarter that ends September 30, up from 18 million in the same period last year, citing double-digit growth in revenues in Cyprus and Bulgaria. A strong tourism season in Greece and the opening of two new stores in Romania earlier this year also boosted results, it added. In a trading update last month, Jumbo announced an 11 percent rise in first-quarter sales to 145.5 million euros. lionaire John Fredriksen, will make a mandatory bid for Norwegian Property ASA after increasing its stake to almost 38 percent. Geveran on Friday bought 25.6 million shares in Norwegian Property for about 256 million kroner ($38 million) and will offer to buy the rest within four weeks, the company said in a statement yesterday. Fredriksen, Cyprus’s wealthiest citizen, commands the world’s largest fleet of oil tankers and other vessels through stakes in more than 15 listed shipping companies, including Frontline, Golar LNG Ltd and Golden Ocean Group Ltd, according to data compiled by Bloomberg.