News Parkiet

Privatization

Treasury sees record dividends

Polish State Treasury may receive as much as 2.5 billion zloty in dividends next year from companies, whose shares are listed on the WSE. The government raked in some 2 billion zloty ($580 million) in dividends this year, an all-time record, in some cases forcing companies to boost their dividends over the heads of their CEOs. By one estimate, the biggest cash cows of the Polish Treasury next year will include state-controlled lender PKO BP, PZU insurance group, which may end up paying out over 300 million zloty in dividends to the government and copper mine KGHM.

Information technology

Techmex CEO promises

higher earnings

Publicly traded Geographic Information Systems provider Techmex SA blames the electoral cycle after missing once again its target for GIS sales. Jacek Studencki, the founder and CEO of Bielsko-Biała based company says Techmex has an order backlog of some 60 million zloty worth of high-margin GIS projects after signing 37 million zloty worth of new orders in the third quarter alone, including contracts with ARMiR agricultural agency and with the Defense Ministry Techmex has no plans to get rid of its hardware distribution business or laptop retailer Karen Notebook despite razor-thin margins of the two units, Studencki said.

Oil stocks

Orlen may bid for Yukos assets

PKN Orlen oil refinery may bid for the oil fields now controlled by Russia's Yukos oil group, company spokesman told PARKIET yesterday. 'We don't have an official confirmation that Yukos plans to sell its oil producing assets', Dawid Piekarz said. 'However, if that's actually the case, we will consider our participation', Piekarz said.

Analysts say it's very unlikely Orlen will be allowed to bid for Yukos without the permission of Russian authorities.

Mining

JSW to file for IPO

Coal mine group Jastrzębska Spółka Węglowa is almost ready to file its IPO prospectus, chief executive Leszek Jarno said yesterday. State-owned group is Europe's biggest maker of metallurgical coke.