Getin Noble Bank SA shares have been moved to the Warsaw Stock Exchange's alert list and will be excluded from the stock exchange's indexes on Sept. 30, Rzeczpospolita reported Sept. 27.
The lender's shares were added to the alert list after trading below 0.50 Polish zlotys apiece on average in the third quarter, the newspaper noted. Shares of companies included in the alert list are moved from the Warsaw Stock Exchange's continuous trading system to the single-price auction system.
Getin Noble was included in the alert list a few times during the last few years, with its share price falling by 43% during the last 12 months and by almost 90% during the last five years, the newspaper noted. The lender earlier consolidated its shares to remove them from the alert list, but the move did not improve the situation for long.
Getin Noble's main shareholder Leszek Czarnecki has been trying to find an investor to recapitalize the lender and its sister unit Idea Bank SA. Both lenders also recently announced measures, including job cuts, to improve their financial situation.
As of Sept. 27, US$1 was equivalent to 4.00 Polish zlotys.
