News Parkiet

Steel industry

Stalprodukt transfers shares

in a mystery deal

Stalprodukt steel sheets manufacturer has agreed to transfer nearly 280 000 treasury shares held through a subsidiary to an unnamed financial services firm, the company disclosed yesterday. The stock was valued at just 20.8 zloty a share by an independent auditor, Stalprodukt said. Meanwhile, shares of Stalprodukt on the WSE are trading at around 74 zloty, boasting a 7.6 price-earnings ratio.

Equity market

WIG20 hits new record

Blue-chip WIG20 index climbed to a new high this year, closing at 2127 points yesterday. The main WSE index rose 16.6 percent since mid-May, making up for ground lost during a three-month decline that started in late February.

Equity markets

No quiet period for IDMSA.pl

Independent brokerage house Internetowy Dom Maklerski said yesterday it expects to earn as much as 8 million zloty this year, up from last year's PLN 5.5 million. Cracow-based IDMSA.pl, which is scheduled to go public in an IPO later this month has published an investment report that values its shares at 15.9 zloty each. The estimate is based on IPO price of 12.5 zloty a share.

Chemicals

Police's job guarantees may hurt stock price, analysts say

Firma Chemiczna Police fertilizer maker has agreed to a generous severance package and a five-year job guarantee for its workers just days before the stock's expected first day of trading on the WSE, scheduled for today. Analysts say the move could hurt Police's stock price because state-owned company has plenty of room for cost-cutting.

Police sold 15 million shares priced at 10.3 zloty each in an offering that closed earlier this month.