Trading on the Athens Stock Market of the shares of Folli Follie was suspended at the request of the company’s management to the Hellenic Capital Market Commission.
As Folli Follie said in a statement, “following the continuing and coordinated spread of misleading news that has unjustifiably created a negative climate for the company, it [company] has today asked the Commission to take all necessary steps to suspend the trading of the company’s securities, traded on the Athens Stock Exchange, in order for the audit of the company’s financial statements to be completed by the independent auditing company Ernst & Young”.
Folli Follie’s stock closed yesterday at 4.80 euros with a 24.88% fall. The stock has recorded losses of 68.71% from the 15.34 euros that it stood at before the downward trend following the US Quintessential Capital Management (QCM) report focused on Folli Follie’s financial performance.