Poland's Rafako to begin preparing bankruptcy filing, shares tumble

Rafako SA w upadlosci

18/10/2023 16:26

Oct 18 (Reuters) - Polish boiler maker Rafako  RFK.WA 
said on Wednesday it will start preparing a bankruptcy filing,
sending its shares down by almost a fifth. 
    However, Rafako listed several factors it said could stop it
from making a final decision to file the motion, including a
consent by its key creditors to defer the payment of instalments
until at least Nov. 30.
    The company's shares were 19% lower by 1450 GMT, taking
their year-to-date loss to more than 44% and on track for their
worst day since January.
    Earlier this year, Rafako scrapped a previous plan to file
for bankruptcy, citing developments relating to a dispute with
Polish utility Tauron's  TPE.WA  production unit over the
construction of a coal-fired power plant in Jaworzno. 

($1 = 4.2165 zlotys)

 (Reporting by Anna Pruchnicka; Editing by Kirsten Donovan)
 ((anna.pruchnicka@thomsonreuters.com; +48 58 769 65 14;))