Elektromontaz-Export, the producer of electric devices who used to be listed on the Warsaw Stock Exchange till December 2007, won’t come back to the stock market in the upcoming future. The management had said before that the company would this year be listed on New Connect, and next year, on the WSE again. Before it happens, however, the court needs to change the liquidation process and make it possible for the company to reach settlement with creditors instead of simply being closed. The company needs clear promise from shareholders and potential investors that they will buy newly issued shares.
“We are running talks but they are not easy ones” Marek Kossowski, Elektromonotaz-Export CEO said.
He convinces that last year, the company had several hundreds thousand zloty of net income, this year it should generate income as well. He does not state more precise forecasts and does not say when negotiations with potential investors could end. In fact, they can last for several months.
(PLN 1 = EUR 0.283)