News Parkiet

Equity market

DA launches insider trading probe

over Stalexport

Warsaw prosecutor has opened an investigation over allegations of insider trading involving shares of Stalexport steel trading group surrounding the announcement it may win a lucrative deal to operate a new section of A-4 highway. GDDKiA highway construction authority said publicly it gave Stalexport Autostrada Śląska, a subsidiary, an exclusive right to negotiate a license to operate toll highway connecting Katowice and Wrocław before trading in the stock was halted on the WSE. At least one stockbroker who learned about the announcement bought some 75 000 shares before the bourse suspended trading in mid-session. The stock went up 7.5 percent on a record volume when the trading resumed half an hour later.

Equity markets

SEC investigates BOŚ traders

Polish SEC has launched a formal investigation over suspicious trading activity by three daytraders involving shares of BOŚ Bank, a mid-sized lender that specializes in financing ecological projects, just days before Sweden's SEB launched a takeover bid for a stake in the company. Shares of BOŚ rose about 20 percent in just two days before the takeover bid was announced publicly.

Transportation

AKJ to make a bid for Pekaes

AKJ Management Logistyka, a private equity vehicle controlled by AKJ Management said it has obtained SEC clearance for the planned bid for a stake in Pekaes, Poland's biggest trucking company. Warsaw-based AKJ plans to buy at least 33 percent of Pekaes. It said it would restructure former state-owned transportation group to make it more profitable.

Power industry

BOT may pay more for CO2 limits

State-owned BOT Górnictwo i Energetyka energy and mining group could pay as much as 250 million zloty a year for the additional carbon dioxide emissions limits, a government report said. Other power industry companies could gain millions selling surplus allowances on the market. They include Electrabel's Elektrownia Kozienice, which stands to gain as much as 25 million euros a year and PKE, which may get as much as 100 million euros.