Manometry bows out
KFM's parent company, Wika Systems of Germany, has announced a call for the one percent of the stock that it does not already own. The strategic investor set the price of the call at zł.57.4, or six groszy more than the legal minimum (i.e. its average price over the last six months). Just four months ago, the price stood at zł.7.10 before shooting up to zł.149 amid allegations of price manipulation.
Michał Stępniewski, a spokesperson for the Securities and Exchange Commission (KPWiG), announced at the end of April that the Commission would notify the public prosecutor of a suspected crime. However, any details of legal proceedings have yet to come to light.
Piotr Gonet, KFM's CEO, said at the time that he could not think of any reasons for the stock's astronomical rise and, furthermore, "had no opinion on the matter." He also declined to comment on whether prices in excess of zł.100 truly reflected the fundamental value of the firm, merely saying that the company released all relevant data in accordance with WSE guidelines.
Wika would not give any reason for the delisting other than saying it would "significantly reduce operating costs." Likewise, the firm refused to be drawn into speculation over the connection between the current departure from the floor and the suspicious volatility of its stock a few months ago. Nor would it comment on the timing: the price of the call would presumably have been much lower prior to the April bonanza.
Michał Stępniewski, a spokesperson for the Securities and Exchange Commission (KPWiG), announced at the end of April that the Commission would notify the public prosecutor of a suspected crime. However, any details of legal proceedings have yet to come to light.
Piotr Gonet, KFM's CEO, said at the time that he could not think of any reasons for the stock's astronomical rise and, furthermore, "had no opinion on the matter." He also declined to comment on whether prices in excess of zł.100 truly reflected the fundamental value of the firm, merely saying that the company released all relevant data in accordance with WSE guidelines.
Wika would not give any reason for the delisting other than saying it would "significantly reduce operating costs." Likewise, the firm refused to be drawn into speculation over the connection between the current departure from the floor and the suspicious volatility of its stock a few months ago. Nor would it comment on the timing: the price of the call would presumably have been much lower prior to the April bonanza.
