Shares in the struggling construction company Hydrobudowa plunged more than 15% yesterday on the Warsaw’s stock exchange to just PLN 0.11, after its newly-appointed CEO, Wiesław Różacki told TVN CNBC that the company, which is currently being restructured, could enter liquidation. Rózacki admitted that the stabilization and liquidity of PBG group, an owner of Hydrobudowa, is now a priority, in order to make it possible for it to reach the agreement with its creditors. The head of the construction group also said that the operating activities of Hydrobudowa could have a serious impact on PBG’s balance sheet, resulting in off-balance sheet losses reaching PLN 2bn thanks to guarantees, penalties and claims.
