Following Pinto da Costa’s interview with SIC, the Portuguese financial market regulator suspended trading in dragon shares, “awaiting the release of relevant information to the market”.
The Securities Market Commission (CMVM) decided this morning to suspend trading in Futebol Clube do Porto shares.
“The CMVM Board of Directors determined on April 2, 2024 at 9:25 am, in accordance with article 214 and paragraph b) of paragraph 2 of article 213 of the Securities Code, the suspension of trading in Football shares Clube do Porto – Futebol, SAD, awaiting the release of relevant information to the market”, indicates the regulator’s short communication.
The decision comes after Pinto da Costa’s interview with SIC in which the club president disclosed privileged information. “FC Porto works with a lot of people, they just don’t work with Portuguese banks because they were banned. They can give, like Novo Banco gave to Sporting, but they can’t lend. They have a plan for FC Porto”, said Pinto da Costa, further mentioning that the dragons are not hostages to the Quadrantis fund. “FC Porto needs a loan, it benefits from the interest payments it is paying and I’m going to be suspicious of who helps me? If the fund wants to lend more money, there’s no shortage of people to go to.”
“Mr. João Rafael Koehler comes to serve FC Porto. The bad thing he did was when FC Porto was in a serious cash crisis, he and another group financed the club with millions of euros. We have already paid everyone, Luís André Villas -Boas also entered, but at the first opportunity he left straight away,” the club president also said.
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Tags: CMVM suspends trading Futebol Clube Porto shares Markets
