The small Danish company begging investors to be sensible after a 930% leap in its share price
Copenhagen — A small Danish property company is starting 2017 as the biggest winner on the Copenhagen stock market, surging as much as 930%. But there’s a problem: management has no idea why and is trying to talk sense to investors. Victoria Properties, which had focused on German real estate, on Monday had to remind the market that its equity is gone, responding to a surge in its share price as big as 195% in early trading. "The management in Victoria Properties wants to make clear that there has been no change in Victoria Properties’ economic conditions and that no plans have been disclosed regarding the company’s future strategy," CEO Rasmus Bundgaard said in the stock-exchange announcement. "The company’s equity is therefore still equal to about zero kroner." Though the announcement seemed to spur some afterthought among traders, with Victoria’s shares paring gains, the stock was still up 118% at 22.90 kroner just after noon in Copenhagen. That values the penny stock at 107-mill...
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