Poland’s Rafako Soars 80% After PM Vows Defense Refocus Support

Shares in bankrupt Polish engineering firm Rafako jump 80%, adding to the previous day’s 45% surge, after Prime Minister Donald Tusk pledged to support its refocus on defense.

• Tuesday’s gain is the biggest since 1994 for Rafako, which specializes in boilers for power utilities; trading volume is 936% of its three-month average
  • NOTE: Rafako was declared bankrupt in December amid heavy losses, low orders and disputes over coal boilers; shares fell 72% last year
• Rafako CEO Maciej Stanczuk described the market reaction to Tusk’s plan as “irrational,” noting the company has already lost most of its employees during the bankruptcy ...