News Parkiet

Equity markets

Analysts see small gains for Polmos Białystok

Shares of Polmos Białystok are expected to gain from their IPO price of 80 zloty a share when they begin trading on the WSE today, equity analysts told PARKIET on Wednesday. Few expect big gains because overall mood on the Warsaw bourse remains grim. Artur Olender, the head of DM Penetrator which handled Polmos IPO, expects Polmos to start trading at around 85 zloty a share.

Metals

Kęty reiterates earnings guidance

Aluminum packaging maker Grupa Kęty says it is on track to meet this year?s earnings estimate of 102 million zloty despite weaker first quarter profits. Kęty?s earnings fell 25 percent to PLN 17.4 million on lower sales because of higher aluminum prices accompanied a 16 percent decline of the euro versus Polish zloty.

Banking

DomBank to increase lending

Łódź-based DomBank, Poland?s seventh biggest lender, says it plans to increase mortgage lending to more than 1 billion zloty this year. DomBank, which is part of Getin Bank, a key asset of the publicly traded Getin Holding financial group, said it expects Return On Equity of 21 percent, with cost to revenues ratio at just 39 percent.

Privatization funds

Piast files a suit over Dwory sale

NFI Piast privatization fund has filed a suit against artificial rubber maker Firma Chemiczna Dwory claiming that it has lost money through premature sale of its 1.9 percent stake in the company because it didn?t have enough information to properly estimate Dwory?s real value. Piast sold its stake for less than 3.7 million zloty to an unnamed buyer months before Dwory?s IPO last year.

New economy

Online music store plans expansion

Online music store Iplay.pl says it will begin offering as many as 250.000 songs after signing distribution agreements with Warner Music and Sony/BMG. The company, part of an investment portfolio of MCI Management venture capital fund, plans international expansion to other parts of Central and Eastern Europe.