Mystery over EW share jump after bankruptcy motion

It is estimated that 10.5% of the capital (900,000 shares) changed hands. The course of the quotation suggests that demand has still not been satisfied. Both the parent company Mostostal Export and Elektromontaż's management board deny generating demand. "We are very surprised to see what is happening to our standing," commented EW's general director Ryszard Urban. "I have no idea who is buying Elektromontaż stocks," he added. Meanwhile, the company needs to restructure its debt. Two weeks ago the management board submitted a motion for bankruptcy. "We have prepared a finance restructuring program. If the court accepts our motion we will be able to bring the company back to life over the next two years," said Urban. (Parkiet, p. 2) A.F.