Trigon Agri shares tumbled 11%, matching their record low, after the former Soviet Union farm operator unveiled a widening in losses and weakening in its balance sheet, and termed 2016 a "year of challenges".
"I’ve put together a table with what I think are the main Swedish land investments in Russia and Ukraine," writes Brian Kuns. "In doing this, I ran into some of the known difficulties associated with monitoring the phenomenon of large-scale land-acquisition."
Trigon Agri, in its second acquisition this month , raised its Black Sea landbank nearly to 200,000 hectares, in a deal the farm operator said would "substantially upgrade the quality" of its Russian portfolio.
The Black Sea farm operator, which on Tuesday said it was poised "to announce a number of new acquisitions by the end of May" in dairy, on Thursday unveiled the first, of the 4,160-hectare Vaatsa Agro business.