Gekoplast plans delisting

WSE-listed polypropylene panels producer Gekoplast wants to leave the Warsaw Stock Exchange in Q2 next year, the company’s CEO Piotr Górowski said. Company’s investor, Italian K-Holding wants to call a tender for all of the company’s shares no later than at the end of December. The investor has not yet informed about further plans for Gekoplast's operation. “With the potential ownership change, we are preparing a forecast for the next year and the investment plan - some things are needed and we need to do it. We want to have our proposals to discuss with the new owner,” Górowski said. He added that it is likely that talks will be held in the near future to agree on directions for development. “It is certainly not a hostile takeover,” stressed Górowski. Last week K-Holding announced that it has entered into a binding agreement to announce a tender offer for Capital Partners Investment shares in Gekoplast representing 73.7 percent stake.