Smashing: Wirecard share temporarily higher: According to the insolvency administrator, numerous investors are interested in parts of Wirecard | message

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“A large number of investors from all over the world have already registered who are interested in acquiring the core business or the independent and independently operating business units,” said insolvency administrator Michael Jaffe after the inaugural meeting of the preliminary creditors’ committee. The committee gave the green light for an international investor process involving investment banks. The primary goal in the preliminary insolvency proceedings is to stabilize the business operations of the group companies. This would involve discussions with customers, trading partners and the credit card organizations. “However, it cannot be ruled out that bankruptcy applications for subsidiaries of the Wirecard Group will also have to be filed,” it continues.

Wirecard Bank AG is still not insolvent. Payments to dealers and customers of Wirecard Bank are carried out without restrictions, says Jaffe.

On Tuesday, the US subsidiary had already distanced itself from its parent company and put itself up for sale. An investment bank is to coordinate the sales process of Wirecard North America Inc. The US company described itself as a self-supporting unit of the group, which operates autonomously from Wirecard AG. Wirecard North America used to be Citi Prepaid Card Services, which Wirecard AG took over in 2016, but which has remained legally independent.

Wirecard AG had to file for bankruptcy last week. Previously, the auditors had refused to give the company the certificate for the 2019 annual financial statements because 1.9 billion euros, which were supposed to be held by two Philippine banks, could not be found. Evidence was apparently forged.

Youngest Wirecard roller coaster is picking up speed again

The Wirecard shares, which have almost degenerated into gambler paper, are likely to make big leaps again on Wednesday. In pre-exchange trading on the Tradegate platform, they expanded their most recent winning streak and soared up to 48 percent compared to the Xetra closing price from the previous day. Recently, however, they were “only” 9 percent higher at 6.25 euros.

On Tuesday, the Wirecard stocks had skyrocketed to over € 9 at times and had cost € 5.73 at the close of trading, which corresponds to an increase of around 76 percent. On Monday, they had more than tripled at times. Previously, however, they had lost almost 99 percent within a few trading days.

Dow Jones Newswires and dpa-AFX

More news about Wirecard AG

Image sources: Wirecard AG



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