Yesterday, shares of ZNTK, the company repairing railway carriages, were growing even 21 percent to PLN 47.8 (EUR 14.8). Recently, the stock has jumped over 60 percent.
“I can see no reasons for increased interest in the stock. It’s probably a rebound after earlier losses. The market is more bullish and our shares are still undervalued”, Ryszard Ekiert, Lapy CEO and majority shareholder commented.
For the last three months, the company has shed 50 percent. Recently, it has informed about a contract with PKP Cargo to repair and check 500 carriages. ZNTK Lapy faces further tenders from the railway giant.
“The three-year contract with Cargo will be a key one. I cannot say when decision will be made here”, Ryszard Ekiert said.
If Lapy is successful, it may change entirely.
“I consider founding a bigger group. There are companies on the market which could be acquired by us”, Ryszard Ekiert believed.
Zbigniew Jakubas, the well-known investor, has recently said he was planning to found a railway holding. He eyed listed Rafamet.
According to unofficial sources, Lapy managed to improve results after it had generated PLN 2m of net loss in the first quarter. The company is negotiating contracts with further railway companies.
(PLN 1 = EUR 309)