“PUŁAWY” still on the Stock Exchange
Speculations regarding the presence of our Company on Warsaw Stock Exchange have continued for some time now. And yet, the most recent announcements do not contain a single hint as to “PUŁAWY” leaving WSE.
Why leave the stock market?
The idea of “PUŁAWY” likely to withdraw from WSE steams from economic analysis. Market Experts have pointed out that as little as 4% of shares is in trade, which makes the presence of the Company on WSE pointless. Consequently, there have been suggestions that Grupa Azoty is likely to buy up shares from minor investors and to remove “PUŁAWY” from WSE listings.
However, Grupa Azoty, the owner of almost 96% of PUŁAWY shares, is not planning to purchase the remaining stock. Presence on WSE is essential for the prestige of the Company, makes its activity more transparent and stimulates further growth.
Grupa Azoty management does not rule out additional issue of shares, so as to gain extra capital for the company. The other solution, suggested among others by Grupa Azoty “PUŁAWY” Chairman Marian Rybak, is using resources which have not been spent on buying up shares (c. 106 million PLN) to finance investments in Grupa Azoty.
The important period of investment
At the opening ceremony of New Fertilizer Complex in Puławy, Grupa Azoty CEO Paweł Jarczewski stressed the fact that work is under way to draw up a comprehensive program of tasks for each Company in the Group. A key element of the plan is the renovation of some of the older installations and the construction of new ones. Additionally, Grupa Azoty is planning to create a strategy of market presence of various Companies on WSE.