Potential JKX bidder steps aside

Обзоры по компаниям и отраслям 20.02.2015 Proxima Capital Group, which announced on Feb. 5 its intention to consider buying all the shares of natural gas E&P JKX Oil & Gas (JKX LN), declared on Feb. 19 that it does not intend to make any offer. Investors responded by dealing JKX shares a 25% correction to GBp 25.5. The shares still traded at 40% above the pre-announcement level. Alexander Paraschiy: The current price of JKX corresponds more or less to its fair value, though we expect further downside correction. The company’s daily natural gas production in Ukraine plunged 43% in January, as compared to its November levels (and down 31% m/m), which indicates it has suffered from the discriminatory resolution adopted by the Ukrainian government in late November that prohibits companies like JKX to supply gas to large industrial consumers.