Authorities to Look into Insider Data Claim on Unilever/Concern Kalina Deal

Russia’s Federal Financial Markets Service is going to ask the stock exchanges about data on the transactions involving Concern Kalina’s ordinary shares. The transactions the agency is interested in are those conducted just before the concern’s deal with Unilever was announced, a representative told Interfax.

Now the news of Unilever buying the Yekaterinburg-based company was made public on October 14, 2011.

The decision to investigate the possible use of some insider data regarding this Unilever/Concern Kalina deal will have to be made after a thorough examination of the data provided by the bourses, the information agencies, and other sources,’ the agency’s representative says.

Concern Kalina’s market capitalization started going up as early as the second half of September, long before the deal with Unilever was officially announced. The cosmetics company’s shares were available for 1,250 RUR apiece on September 23, 2011, and for 2,250 RUR as soon as October 7, 2011, even though no good news regarding the company hit the market in those two weeks, Interfax explains.


Other materials on the topic::