AAA Auto plans to withdraw from the stock exchanges in Prague and Budapest. A general shareholders meeting is expected to discuss the proposal on March 29. AAA Auto’s intention of pulling its 67.76 million shares off the market follows their collapse to just 50 percent of their value when the company was floated in September 2007. The owner of the company, Anthony Denny, allegedly began trying to sell off a majority in the company beginning in August 2012. In Prague, AAA shares were trading at CZK 24.60 on Thursday, while in 2007 the company underwrote them at CZK 55.10. News of AAA’s withdrawal from the stock exchange sent its share prices plummeting by 16 percent in Prague.
