- The Warsaw Stock Exchange (GPW) is making a second donation towards combatting the coronavirus pandemic
- GPW is donating PLN 680 thousand, i.e., its entire record-breaking profit from trade in Allegro shares on the first day of trading, to support the fight with the COVID-19 contagion
The GPW Management Board has decided to donate the entire profit of the Exchange from trade in Allegro shares on the first day of trading (12 October 2020) towards combatting the coronavirus pandemic. The donation amounts to PLN 680 thousand. The decision has been approved by the Exchange Supervisory Board.
“The first day of trading in Allegro shares on Monday generated record-breaking equity turnover on the Main Market exceeding PLN 5.2 billion. We are proud that the Exchange’s Management Board and Supervisory Board have decided in this difficult period for our society to stand up for everyone engaged on the forefront of the fight with the coronavirus pandemic and to donate the entire profit from trade in Allegro shares at the unique Monday trading session towards combatting the COVID-19 pandemic,” said Deputy Prime Minister, Minister of State Assets Jacek Sasin.
The Allegro shares turnover value was close to PLN 4 billion at the 12 October session, nearly equal to the six-month total turnover on NewConnect (PLN 4.1 billion) which currently lists 376 small-cap companies.
“The GPW Management Board wanted to celebrate the success and decided that the best way to celebrate is to share the success with others. We are donating the Exchange’s entire profit from the first day of trading in Allegro shares at PLN 680 thousand to support the fight with the coronavirus pandemic,” said President of the GPW Management Board Marek Dietl.
The GPW President added that the majority of profit from trade in shares goes to brokers while the Exchange earns between 10% and 30% of the profit. “We urge other market participants to donate a part of their profit from the first day of trading in Allegro shares towards combatting the pandemic, too. Let us share the success of the Polish capital market with the entire society, especially those affected by the pandemic,” said Mr Dietl.
The initiative comes as yet another decision of the Exchange’s Management Board and Supervisory Board to support the fight with the COVID-19 contagion. In March, GPW donated PLN 1 million to the District Sanitary and Epidemiological Stations in Siedlce and Radom dedicated to the purchase of SARS-CoV-2 testing equipment. Diagnostic labs have been using the purchased equipment since early May.
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The Warsaw Stock Exchange Group (GPW Group) operates trading platforms for shares, Treasury and corporate bonds, derivatives, electricity and gas, and provides indices and benchmarks including WIBOR and WIBID. The index agent FTSE Russell classifies the Polish capital market as a Developed Market since 2018. The markets operated by the GPW Group are the biggest in Central and Eastern Europe. For more information, visit www.gpw.pl
