IT company with Belarusian roots EPAM Systems sold nearly $ 200 million worth of shares to the American fund
American investment fund BlackRock bought out about 5% of shares of EPAM Systems , an offshore software developer.
Based on the current value of EPAM shares on the New York Stock Exchange - $ 75 per share - the market value of the EPAM stake held by BlackRock is $ 195 million. In early 2015, the company's share cost about $ 45. By the beginning of 2016, the paper has risen in price more than one and a half times - up to $ 78.
BlackRock was founded in 1988. The fund manages assets worth $ 4.7 trillion, 65% of which belongs to institutional investors.
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Earlier, BlackRock bought a stake in a competitor EPAM - Luxoft, an offshore developer created in Russia. Last summer, BlackRock consolidated 6.3% of Luxoft shares. True, at the moment the size of this package is already smaller - 4.8%. Luxoft shares now cost $ 76.67 per share. Thus, the market value of the Luxoft stake, which BlackRock owns, is also approaching $ 200 million.
Other funds also invest in both EPAM and Luxoft shares at the same time, reminds CNews.
A year ago, investment company JP Morgan consolidated 6.6% of EPAM shares and 5% of Luxoft shares. In 2014, Fidelity Management & Research fund consolidated 12% of EPAM shares and 4% of Luxoft shares. In parallel, the Waddell & Reed ( W & R ) fund bought out 7% of EPAM shares and 3% of Luxoft shares. Subsequently, W & R completely withdrew from the capital of Luxoft and reduced the size of its stake in EPAM to 4.7%. The share of FMR in EPAM was reduced to 3.5%, in Luxoft - to 2%. At the end of 2014, another Fidelity fund, Fidelity Worldwide Investments , consolidated 5% of Luxoft shares, but then this share fell to 2.6% of shares.
Megamind wrote that on May 7, EPAM Systems published a report for the first quarter of 2015. Quarterly revenue of the company increased by 24.7% (to $ 653.9 million) and exceeded the forecast of 23%, but after the opening of trading on the NYSE, stocks began to fall in price. In 2015, the company's shares rose by 40%.
EPAM Systems develops and tests software as well as other IT activities. The company's headquarters is in the USA, but EPAM Systems is a resident of the Belarusian High-Tech Park. The founder and president of EPAM is a large Belarusian businessman Arkady Dobkin.
“First, they found a niche in the form of outsourcing in the IT market. Secondly, they have tax preferences in the High-Tech Park. Well, one should mention the competence of Belarusian programmers, ” explains the success of the company, Deputy Chairman of the Belarusian Scientific and Industrial Association Georgy Grits.
Based on the current value of EPAM shares on the New York Stock Exchange - $ 75 per share - the market value of the EPAM stake held by BlackRock is $ 195 million. In early 2015, the company's share cost about $ 45. By the beginning of 2016, the paper has risen in price more than one and a half times - up to $ 78.
BlackRock was founded in 1988. The fund manages assets worth $ 4.7 trillion, 65% of which belongs to institutional investors.
')
Earlier, BlackRock bought a stake in a competitor EPAM - Luxoft, an offshore developer created in Russia. Last summer, BlackRock consolidated 6.3% of Luxoft shares. True, at the moment the size of this package is already smaller - 4.8%. Luxoft shares now cost $ 76.67 per share. Thus, the market value of the Luxoft stake, which BlackRock owns, is also approaching $ 200 million.
Other funds also invest in both EPAM and Luxoft shares at the same time, reminds CNews.
A year ago, investment company JP Morgan consolidated 6.6% of EPAM shares and 5% of Luxoft shares. In 2014, Fidelity Management & Research fund consolidated 12% of EPAM shares and 4% of Luxoft shares. In parallel, the Waddell & Reed ( W & R ) fund bought out 7% of EPAM shares and 3% of Luxoft shares. Subsequently, W & R completely withdrew from the capital of Luxoft and reduced the size of its stake in EPAM to 4.7%. The share of FMR in EPAM was reduced to 3.5%, in Luxoft - to 2%. At the end of 2014, another Fidelity fund, Fidelity Worldwide Investments , consolidated 5% of Luxoft shares, but then this share fell to 2.6% of shares.
Megamind wrote that on May 7, EPAM Systems published a report for the first quarter of 2015. Quarterly revenue of the company increased by 24.7% (to $ 653.9 million) and exceeded the forecast of 23%, but after the opening of trading on the NYSE, stocks began to fall in price. In 2015, the company's shares rose by 40%.
EPAM Systems develops and tests software as well as other IT activities. The company's headquarters is in the USA, but EPAM Systems is a resident of the Belarusian High-Tech Park. The founder and president of EPAM is a large Belarusian businessman Arkady Dobkin.
“First, they found a niche in the form of outsourcing in the IT market. Secondly, they have tax preferences in the High-Tech Park. Well, one should mention the competence of Belarusian programmers, ” explains the success of the company, Deputy Chairman of the Belarusian Scientific and Industrial Association Georgy Grits.
Source: https://habr.com/ru/post/298360/
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