News Parkiet

Equity market

WSE data distribution system breaks down

Thousands of Polish investors were stranded without access to real-time stock quotes yesterday after a mysterious breakdown of the main data link between the WSE and local stockbrokers yesterday. Warsaw Stock Exchange officials switched to a backup system after an early morning failure, but not all stockbrokers had access to land-based links. Most of those who did, took their time switching to new data transmission system, leading to mass confusion at the opening of yesterday?s session.

Sources at the WSE said the bourse is ?unlikely? to pursue further action against PAGI, a data transmission firm that provides WSE?s main satellite data link.

Food industry

Elstar to build new fuel additives plant

Canola oil maker Elstar Oils announced yesterday it has hired a contractor to build a new 100 000 ton facility making rapeseed oil-based gasoline additive. Elstar estimates that fuel additives will generate up to 30% of its sales as early as next year.

Food industry

Analyst tried to scuttle IPO, Ambra says

Wine importer Ambra SA has asked the prosecutor to investigate a negative investment report published by self-appointed independent analyst Jarosław Supłacz before its IPO last several weeks ago. Ambra?s IPO was cut in half to PLN 60 million because of lower than expected investor demand.

E-commerce

Travelplanet.pl up 24 pct. on IPO

Shares of online travel agency Travelplanet.pl begun trading at 22.4 zloty, some 24.4 percent above their offering price yesterday, making it the second-best IPO of the 21 new stocks that begun trading in Warsaw this year. Part owned by MCI Management venture capital fund, Travelplanet raised about 6.6 million zloty in June IPO that was three times oversubscribed.

Equity markets

Charges filed over WLC Invest

Warsaw prosecutor has filed criminal charges against Marcin F., former vice-CEO of Wólczanka clothing retailer over his company?s failure to disclose several bond purchases and other failed investments four years ago. Marcin F., whose last name cannot be published due to Polish regulations on personal privacy, says he wasn?t responsible for Wólczanka public disclosure policy.

Mutual funds

SEC clears two new mutual fund firms

Polish Securities and Exchanges Commission has agreed to the launch of two new mutual fund companies yesterday. Investors TFI plans to raise up to 100 million zloty in a private placement, sources said. The other, Intrum Justitia, plans to start a new fund that will buy unpaid consumer and mortgage loans. It was set up by Scandinavian debt collection agency of the same name.

Separately, the SEC said it has filed 23 notices asking the prosecutor to investigate alleged violations of the country?s securities law in the first six months of this year.