News Parkiet

Equity markets

Insiders trim their stock holdings

Board members and senior executives of corporations, whose shares are listed on the WSE sold 285 million zloty worth of stock so far this year, a survey by PARKIET shows. They bought shares worth just 87 million zloty in the nine months to October. Some, like the two managers of fiber optics operator ATM may have regretted their decisions to sell shares. The two sold 7 million zloty worth of stock for 35 and 36 zloty respectively. Shares of ATM are now trading at around 42 zloty. Those who bought shares include Paweł Olechnowicz, the CEO of Grupa Lotos oil refinery, who invested 1.4 million zloty buying his company?s stock in an IPO several months ago.

Power industry

Rafako, Hitachi win Boxberg contract

Polish power plant contractor Rafako together with Hitachi were awarded a contract to build a new, 660 megawatt power block at Germany?s Boxberg power plant. Sources at Rafako say its share of the project is worth up to 60 million euros. Publicly traded Rafako is making bids for other contracts in the Czech Republic.

Media

Ruch to file for IPO

Newspaper distributor Ruch may file for IPO as early as next week, senior Treasury official said. First, state-owned company must file its IPO prospectus with the Treasury Ministry, which oversees Ruch?s privatization.

Information technology

Softbank gets a discount on Gladstone

acquisition

Financial services IT provider Softbank said it would pay approximately 27 million zloty for Cyprus-based IT firm Gladstone Consulting. Softbank said earlier it expected to pay as much as 31 million zloty for the 51-percent stake in Gladstone.

Civil engineering

Polimex to upgrade met coke plant

Building contractor Polimex-Mostostal Siedlce said it was chosen as the general contractor to upgrade a unit of Koksownia Przyjaźń metallurgical coke plant in Silesia. Polimex along with three other contractors will receive as much as 405 million zloty for the project.