The Wirecard share will soon no longer be able to trade.
(Photo: dpa)
Frankfurt In just a few days, several German stock exchanges will draw a line under trading in shares of the insolvent Wirecard AG. For investors who still have the paper of the former Dax group in their depot, it is becoming increasingly difficult to get rid of the share. Investor advocates recommend selling the shares.
The Frankfurt Stock Exchange announced at the beginning of October that it would exclude Wirecard shares from the regulated market at the end of November 15 (Monday). But even in the open market, where fewer regulations apply, Wirecard can no longer be traded, Deutsche Börse said on request. According to a group spokeswoman, “proper stock exchange trading” is no longer guaranteed even in the open market. “For this reason, Wirecard will no longer be tradable on the Deutsche Börse after November 15, 2021.”
Deutsche Börse, by far the largest stock exchange operator in Germany, justified the move by stating that, in the event of bankruptcies, it is always checked whether there is still an appropriate contact person at the respective issuer. If, in particular, no legal representative could be reached who could give information about questions of financial reporting or similar questions about the security, “the correctness is no longer given and there is an ex officio delisting”, it said.
The insolvent Wirecard AG admitted last summer that the 1.9 billion euros listed in the balance sheet could not be found. The Munich public prosecutor’s office assumes “commercial gang fraud”. After the accounting scandal came to light, it only took a few days to file for bankruptcy. The shares of the once acclaimed tech group crashed, investors lost a lot of money.
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Wirecard shares have so far not only been tradable in Frankfurt, but also on other German and foreign stock exchanges. But other stock exchanges are also following suit – such as the Stuttgart Stock Exchange: “Trading in the bearer shares of Wirecard AG (WKN: 747206) will be discontinued on the Stuttgart Stock Exchange on November 15, 2021,” the company told the Deutsche Presse-Agentur . The Munich Stock Exchange is also planning to end trading in Wirecard shares as of the reporting date. One follows the reference market Frankfurt, said a company spokesman.
The investor protection association DSW recently recommended selling Wirecard shares. How long this will still be possible without any problems is difficult to say, wrote CEO Marc Tüngler. “Only those who sell will their bank certify the loss, which is then automatically offset against profits from the sale of shares”. He also referred to tax aspects that affect investors with high investments in Wirecard: 000 euros can be claimed. “
Wirecard shares, which had reached record levels of almost 200 euros, are now only worth a few cents and are the pawn of speculators. In August 2020, the papers flew out of the leading index Dax. The Munich public prosecutor’s office is investigating commercial gang fraud. Wirecard shares were recently traded quite briskly.
More: A report on EY’s work at Wirecard was stamped secret by the Bundestag. The Handelsblatt discloses the explosive document.