News Parkiet

Information Technology

Softbank to decide on new equity increase

Softbank information technology group and its parent Prokom Software are both talking with minority investors to try to convince them to accept new equity increase to pay for several acquisitions, including the purchase of two IT firms from Prokom itself. Special meeting called to vote on new stock issue has been postponed until May 17 because Prokom failed to gather enough votes to push through its proposals at another meeting earlier this month.

Petrochemicals

Grupa Lotos IPO priced at 26-35.5 zloty

Poland's no. 2 refinery, Gdańsk-based Grupa Lotos has priced its IPO at between 26 and 35.5 zloty on Friday. The company said earlier it plans to sell 35 million new shares. If the offering is successful, Grupa Lotos will raise between 910 and 1240 million zloty to finance planned investments, including a major expansion of its retail business and new waste oil processing facilities.

Building materials

Decora makes two acquisitions

Building materials manufacturer Decora SA went on a pre-IPO buying spree last week, entering new market segments by taking over two smaller firms. Wielkopolska-based Decora, which makes panels and skirting boards, said it has paid an undisclosed amount to buy stakes in Trans and Optimal, two similar firms selling related products. Combined annual revenues of the two companies totals 30 million zloty, Decora said. Chief executive Waldemar Osuch told PARKIET his company may buy other firms to complement his company's product portfolio.

Decora could raise approximately 20 million zloty selling one million new shares in an IPO scheduled later this year. Shares of the company are already registered for public trading by the SEC.

Privatization funds

Piast makes first investment

Warsaw-based NFI Piast has made its first significant investment since it turned into private equity fund. Piast, one of fourteen privatization funds that went public in late 1990's to help manage sale of government assets, said it has agreed to pay 4 million zloty for a 98.77 percent stake in the European Tool Corporation Polska. The fund then plans to sell back its stake in the tooling company to its Cyprus-based owner.

Metals

Chief executive to raise stake in FAM

Chief executive Mirosław Kalicki keeps adding up to his 19.2 percent stake in FAM SA, a small cast iron components manufacturer that lost over a third of its market value since its IPO late last year. Mr. Kalicki, who owns nearly 673.000 shares of FAM worth approximately 6.7 million zloty, has already asked for SEC clearance to raise his stake to 33 percent.

In December Kalicki and another major shareholder sold nearly 300.000 shares of FAM at prices ranging between 13 and 14 zloty. The stock now trades at just under 10 zloty a share.