Blumont warns against own shares
Losses are in line.
Investment company Blumont is expecting losses in 2Q and 1H, primarily from the fair value readjustments of the Group’s investments in transferable securities (financial assets), attributable to the recent volatility in the financial markets and global economy.
In a release, Blumont announced that the Group’s investment holding segment and the portfolio of quoted financial assets, available-for-sale, including the portfolio under the mineral and energy resources ties to the changes in the financial market and global economy with uncertainty and volatility in the investment outlook.
Blumont will disclose its financial statements on or before 14 August.