WARSAW, March 24, 2026, 12:36 CET
- Molecure kicked off a bookbuild for up to 4.12 million new Series K shares and as many as 2 million existing shares. MS Galleon isn’t budging from its 24.46% stake.
- KRUK’s Milan office signed agreements for the acquisition of up to €278 million in unsecured Italian retail receivables, with the forward-flow portion lined up for purchase through December.
- Korab reminded investors about the unresolved licence objection in Western Australia, an issue first raised in December 2020.
Molecure set out Tuesday to sell up to 4.12 million Series K shares, with two existing shareholders planning to offload as many as 2 million shares as part of the deal. The biotech, based in Warsaw, is seeking fresh capital with key clinical milestones on the horizon later this year. In Italy, KRUK signed on to buy as much as €278 million in unsecured retail receivables. Korab Resources, for its part, pointed investors again to its objection over a mining licence from December 2020.
The wave of filings is notable: smaller listed names are still hustling—raising capital, deploying it, dealing with old legal baggage—instead of sitting on their hands waiting for markets to settle. Molecure’s latest fundraising comes as management insists its two leading programs are near key data points that could push investors to reassess the stock’s worth. Over at KRUK, Italy remains among the company’s significant markets.
Molecure launched an accelerated bookbuild this morning at 11:00 a.m. on March 24, aiming to gauge investor appetite and set the price quickly. The window closes at 3:00 p.m. March 25. Trigon Dom Maklerski is running the deal. Shareholders on record as of March 23 get first crack if they meet the subscription criteria.
The investment arrangement signed that day sets Vienna’s MS Galleon and Szumowski Investments up to sell as many as 1 million existing shares apiece before coming back for more in the offering. Molecure says MS Galleon is looking to snap up enough of the new shares to keep its 24.46% position steady. Szumowski Investments has promised to repurchase as many shares as it lets go and is locking up those holdings for 12 months, as long as the price stays below 25 zlotys per share.
Molecure is channeling the funds into its lead clinical programs, OATD-01 and OATD-02. CEO Marcin Szumowski said the two candidates are nearing milestones that could deliver crucial data. The first interim look at the phase II KITE study in sarcoidosis—results from the initial 30 patients—should be available by mid-2026. For OATD-02, phase I trials have already revealed some biomarker activity in oncology patients.
Kruk Investimenti, part of KRUK and based in Milan, announced it has signed claim-assignment agreements with a major Italian bank to purchase portfolios with a nominal value of up to €278 million. That figure represents the face value of the debts, not what will actually be collected. The deal includes a static portfolio of no more than €203 million and a forward-flow segment for up to €75 million, to be transferred in tranches from June through December 2026. Back in February, KRUK had disclosed it won a tender for an even larger package—€298 million.
KRUK is leaning harder into Italy with this deal. Its most recent quarterly numbers show Italy accounted for a quarter of group recoveries and nearly half—42%—of fresh portfolio buys in the first nine months of 2025. The company, which pitches itself as a major player among Europe’s debt managers, shares the Italian market with firms like Intrum—called Europe’s largest debt collector by Reuters—and the local operator doValue.
Korab hasn’t shifted its position, but the fight over the Ashburton Mineral Field in Western Australia drags on. The company first disclosed on Dec. 23, 2020, that its subsidiaries opposed Ashcroft Resources’ attempt to secure exploration licence E08/3315. Separately, Rheingold Investments — a related party — also filed for a different licence, E08/3560, which Korab planned to acquire if their challenge succeeded. Korab’s interim report from March 13 flags multiple adjournments in the dispute. The objection is now being handled and funded by an unrelated third party.
Risks are still on the table. Molecure hasn’t named a price or filed for the capital increase yet; if the share sale gets scrapped, buyers should expect a refund, but the company won’t pay interest. For KRUK, the forward-flow deal is only as good as the receivables that keep coming in through this year. Over at Korab, the ASX has suspended its listing, and the company’s got until July 29, 2026 to show it has enough ongoing business—otherwise, it could lose its spot on the board.
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