GDANSK, Dec 17 (Reuters) - Poland’s financial watchdog KNF said on Wednesday it had taken legal steps over suspected market abuse in the trading of Energa shares, including possible insider dealing
Poland's KNF Takes Action on Energa Market Abuse Allegations
GDANSK, Dec 17 (Reuters) - Poland’s financial watchdog KNF said on Wednesday it had taken legal steps over suspected market abuse in the trading of Energa shares, including possible insider dealing and unlawful disclosure of inside information.
The case concerns trading in Energa's shares that took place before refiner Orlen disclosed after the market close on November 26 its plan to increase its stake in the utility to 100%.
As part of its actions, the watchdog requested on November 28 that investment firms block securities and cash accounts of individuals whose transactions suggest the potential use of inside information.
State-controlled Orlen, Poland's dominant oil refiner, took over Energa in 2020. The group has faced other legal probes, including an investigation into its Swiss trading unit.
Orlen did not immediately respond to a request for comment.
(Reporting by Rafal Nowak and Marek Strzelecki; Editing by Kirsten Donovan)
