News Parkiet

Equity markets

Decora?s gain may signal stronger IPO market

Yesterday?s 6.2 percent gain of building materials manufacturer Decora SA may be a sign of better times for investors who participate in Initial Public Offerings. Two other IPOs this week include wine importer Ambra, which starts trading today and ceramic tile manufacturer Opoczno. Shares of Opoczno will begin trading on Friday.

Corporate governance

Gov?t official getting payments from KGHM

Stanisław Speczik, senior Treasury Ministry official is still getting non-compete payments from his former employer, mining conglomerate KGHM Polish Copper, company officials disclosed recently. The Treasury is trying to fire Speczik?s successor, union-backed CEO Wiktor Błądek.

Privatization

CEDC in exclusive talks to buy Polmos Białystok

US alcohol distributor CEDC has entered into exclusive talks to buy a majority stake in vodka distiller Polmos Białystok, Polish Treasury Ministry, which handles the sale announced yesterday. The government has granted CEDC exclusive rights to negotiate the purchase of a 61 percent stake in Polmos until July 1, Treasury said. Government officials said previously they expect to raise at least 1 billion zloty selling Polmos, the maker of popular ?Żubrówka? bison-brand vodka, with the stake offered on sale expected to fetch over 700 million zloty, or 100 zloty a share.

Trading in Polmos Białystok was suspended briefly following the announcement. The stock rose briefly only to sink back near its opening price, closing at 80 zloty, unchanged from Monday?s close.

Information Technology

Softbank sees 75 million zloty profit in 2006

Information technology provider Softbank SA, part of Prokom Software IT group, says it is expecting profits of around 75 million zloty on sales of PLN 760 million zloty next year. Those estimates include projected earnings of three smaller IT firms that will be acquired later this year using proceeds from this month?s secondary offering, Softbank said.

Banking

BGŻ unveils new strategy

Polish agricultural lender Bank Gospodarki Żywnościowej said yesterday it doesn?t expect to list its shares on Warsaw Stock Exchange at least until mid-2007. In the meantime BGŻ, part owned by the Netherlands-based Rabobank, plans to increase its market share from 3 to 5 percent. Cost to income ratio, a key performance measure for banks, is set to decline to 65 percent from 82 percent today.

Health care

Another hospital goes public

Shares of EMC Instytut Medyczny were registered for public trading by the Securities and Exchanges Commission yesterday, making the company the second publicly traded hospital operator in Poland. Wrocław-based EMC Instytut Medyczny, which runs three hospitals and several clinics in south-western Poland, plans to raise from 13 to 15 million zloty to finance new medical facilities. Controlled by three individual investors, EMC Instytut Medyczny reported 6.5 million zloty in sales and a small profit in the four months to March 31.