News Parkiet

Banking

Handlowy to pay record dividend

Banking watchdog KNB has agreed to an extra dividend by Citigroup?s Bank Handlowy, which said it plans to pay out as much as 1.56 billion zloty, or about 465 million US dollars as dividends to shareholders. Handlowy, which is 75 percent owned by Citibank said it plans to pay out 414 million zloty from last year?s profits plus 1.15 billion in accumulated earnings. The dividend will be paid on September 1st, with ex-dividend date on July 25.

Conglomerates

Elektrim files incomplete annual report

Shareholders of Elektrim power and telecoms group won?t be able to vote on how to appropriate last years profits of 247 million zloty (unconsolidated) because the company?s auditor has failed to issue an opinion about its financial statement yet again. Instead, Ernst&Young went on describing Elektrim?s various legal disputes, valuation of certain assets, debt repayments and other woes.

Home appliances

Neonet to raise PLN 65 million

Home appliance retailer Neonet SA plans to raise as much as 65 million zloty selling shares to the public in an IPO scheduled for early July, the company said yesterday. Wrocław-based Neonet plans to sell about 3.6 million new shares representing about 27 percent of outstanding equity after the IPO.

The company plans to use the proceeds to buy at least two smaller competitors, adding dozens of new retail outlets, with the balance going towards working capital and other corporate purposes.

Banking

BOŚ surges after CEO reshuffle

Shares of Bank Ochrony Środowiska, a mid-sized Polish lender controlled by Sweden?s Skandinaviska Enskilda Banken and by government-owned ecological fund rose 0.8 percent yesterday after a 2.24 percent gain on Friday on news that long-time CEO Józef Kozioł, 67, is quitting his job. Mr. Kozioł, who served as chief executive on and off for about ten years will be replaced by Sergiusz Najar, a former Citibank executive in Poland and in the Czech Republic.