News Parkiet

Equity markets

Inside politicians? portfolios

Recent financial statements show that at least several key members of Kazimierz Marcinkiewicz?s cabinet invest in stocks and mutual funds, raising public hopes for a more favorable treatment of stock market investors. The biggest investor, Defense Minister Radek Sikorski, owns a portfolio of US stocks, including stakes in biotech companies and aircraft manufacturers. Other major stock investors include Education Minister Michał Seweryński, who owns shares of Polish Telecoms and bank PKO BP and Treasury Minister Andrzej Mikosz, who owns a mix of corporate bonds issued by BZ WBK Leasing, a leasing firm and subscription warrants issued by Netia, a local phone company.

Banking

Getin Bank to boost savings

Polish mortgage lender Getin Bank, a key asset of the publicly traded Getin Holding financial group says it plans to attract more savings deposits, a reversal of its previous policy to raise money from bond sales. Getin Bank, which sold 214 million zloty worth of three year bonds last month, begun offering three month, 4.75 percent term deposits in Polish zlotys and US cash deposits yielding as much as 4 percent.

Textiles

Próchnik makes a bid for Deni Cler

Clothing retailer Próchnik has offered to buy Deni Cler, owner of women?s clothing store chain now owned by W. Kruk luxury goods retailer. Łódź-based Próchnik also said it has purchased Pabia Fashion, another clothing company with 23 retail outlets for an estimated 2.5 million zloty.

Telecommunications

Hyperion hyping up IPO plans

Silesia-based ISP/VoIP carrier Hyperion said on Friday it plans to raise 30 million zloty for takeovers of even smaller Internet Service Providers in an IPO next year. Managed by Tomasz Gajdziński, ex-CEO of Mieszko candy-maker, Hyperion also said it plans to sell 15 million zloty worth of convertible bonds as early as next week. The company claims to have 30 000 subscribers generating some 8 million zloty in sales and an EBITDA of 1.7 million zloty last year.