Mystery investor buying Poland’s ZCh Police shares, report

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The price of shares in Polish chemical manufacturer Zaklady Chemiczne Police (ZCh Police) jumped to over PLN 19 ($6) on Thursday, one of its highest levels in five years, local media reported. According to analysts quoted by news portal Wnp.pl, this growth is not justified by any obvious factors. A recent recommendation from DI BRE saw the target price of the shares at PLN 10.9. The analysts said that it seems that an as-yet unknown entity has been buying ZCh Police’s shares over the last few days. They are suspect chemical group Acron as one of the possible share-buyer, saying that last year the Russian company attempted to take over Azoty Tarnów, the parent company of ZCh Police through a tender offer. That scenario, however, has not been confirmed, and remains speculation.

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