Rafako Sinks as Delisting of Bankrupt Engineering Firm Nears

Rafako shares plunge 45% on Tuesday ahead of delisting planned July 21, according to Parkiet newspaper

• Rafako traded at 0.1 zloty/share at close in Warsaw to lowest since start of listing in 1994
• Shares have fallen from 2.06 zloty/share in April on frustrated hopes for a state rescue
• NOTE: Shares will be delisted from Warsaw Stock Exchange six months after a court bankruptcy decision took effect on Jan. 21; the bourse confirmed delisting plan in Parkiet report
• READ: June 12: Rafako Shares Extend Plunge as Hopes of Polish State Rescue Fade

To contact the reporter on this story:
Konrad ...