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A small world: Bafin initiates research into market manipulation



Shortly after the IPO comes for "Facebook for the rich" hammer: The information about the company is doubtful before the trade of its shares is warned.

(sda / awp) A small world, the social network of the wealthy listed on the six Swiss stock exchange, has come under the headlining of the German authorities. The German Federal Financial Supervisory Authority (Bafin) warns against e-mails that send purchase recommendations for the company's shares.

The Authority has evidence that the recommendations would give false or misleading information or that existing conflicts of interest would be incompatible with customs duties. Bafin on Thursday with. It has therefore initiated an investigation with suspicions about market manipulation.

The Small World (ASW) Shares are listed on the Frankfurt Stock Exchange (including Xetra), Stuttgart, Tradegate and Quotrix included in the discotheque market. In Frankfurt, the pricing ruled until further notice on April 3, 201

8. Bafin continued to announce.

It also encourages all investors to check carefully before acquiring A Small World shares, as well as "reputed and informing the affected community from other sources."

Chef Regrets

The Chief of a Small World, Jan Luescher, regrets events on request. "We noted the Bafin investigation," he said in a telephone conversation with AWP news agency.

"A strong push campaign has appeared on the website for a few weeks now World», so his statement . This is fair and does not help the company.

"This campaign is not from us," he stressed. A small world has tried to stop the hardening campaign, but has no control over it.

Pieces

ASW's shares fell in the afternoon after Bafin's announcement. After a short break, the shares currently fell by almost 10%. As a result, losses rose sharply to almost 29%, with the title last traded to CHF 6.34. The issue price at the IPO in March was 9.75 CHF, the first price at CHF 12.40.

ASW had only signed a purchase agreement for a luxury package on Thursday morning (today) The Community announced. Under the call option agreement, ASW can completely take over the company by 30 November 2018.

ASW is a private social network with currently approximately 28,500 members. The core business of "Facebook for the beautiful and rich", headquartered in Zurich, is the operation of the platform with the same name.

The chairman of the board is Jetsetter Patrick Liotard-Vogt, heir to a former Nestlé CEO. The original public offer on the Swiss stock exchange SIX of ASW had only taken place on March 20, 2018.


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