Share-price suspicion

PC Guard, whose shares debuted on the Warsaw Stock Exchange (WSE) two weeks ago with a 100-percent rise in its first day, has now come under the eye of the Securities and Stock Exchange Commission (KPWiG), after it jumped another 445 percent - to zł.90 per share.

"We are looking into the transactions and are gathering information about who was trading shares and [rights to shares]," said KPWiG's spokesperson, Łukasz Dajnowicz.

PC Guard is one of the smallest entities listed on the WSE, debuting on the bourse with only 500,000 shares, all of which were bought by individual investors. Twelve shareholders in particular - among them the company's founders - hold the majority.

"I do not know who sold the shares," said president of PC Guard Dariusz Grześkowiak. "I wanted to explain this issue and called a few shareholders, but none of them admitted having sold the stock," he explained.

According to its stock value, the Poznań-based company is worth between zł.30 and zł.90 million, while its sales stand at just zł.5 million.(Poland A.M.)