Something is wrong here: PNE share – almost a case of infrasound

So far, for example, the operational business has received little attention. With the strong price increases on the electricity market, self-operated systems generate significantly more income. Some projects take in more than double what was originally expected. At the same time, however, the project pipeline is gaining in value. This is all the more true as fossil raw materials are available regardless of the outcome of the Ukraine War play a lesser role in the energy mix of many countries. It can therefore be assumed that sales and earnings will increase significantly and that PNE will earn much more from project sales.

And there is still a noise in the circle of shareholders. PNE was the target of a takeover attempt. 2019 bot Morgan Stanley Infrastructure Partners four euros per share. The majority was not reached because the investment firm Active Ownership mobilized resistance. In the end, the infrastructure fund reached 40 percent. An investment agreement was reached with the management. This ends now. And it is unlikely that it will be extended. At the same time, Active Ownership already has its stake in PNE at the end of 2021 over ten percent expanded. The motivation for this increase was probably to be found in the fact that the shrewd investors wanted to prevent free shareholders from being pushed out of the company. It can be assumed that either Morgan Stanley could submit a new bid after the investment agreement expires, or that it will sell its stake to another investor, who will then also have to submit a takeover bid. By then, at the latest, it would probably get pretty loud. Because a bid could easily be 50 percent higher compared to the current price.

Our columnist Jorg Lang has been dealing with stocks since 1988.

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