News Parkiet

Privatization

Polmos may offer IPO discount to retail investors

Retail investors who buy shares of Polmos Białystok, Poland?s no. 2 vodka distiller, may receive a discount ranging from 2 to 4 percent off the IPO price. The government plans to sell up to 93.1 percent of Polmos, a 1 billion zloty company, later this month. Exact number of shares to be sold in the IPO may be lower if the Treasury manages to sell 51 percent stake to one of four bidders vying for control over Polmos.

Telecommunications

Polish 3G license attracts five bidders

Five telecommunications groups have made their bids for Poland?s fourth 3G license by yesterday?s deadline, the country?s telecommunications watchdog said yesterday. According to unofficial reports, the bidders include all three existing mobile phone operators, as well as previously unknown, Greek-registered fund called Kiana Investments and a consortium of fixed line phone company Netia and Iceland?s Novator group.

Civil engineering

Bankruptcy rumors exaggerated, Mostostal CEO says

Mostostal Warszawa construction group has more than enough cash to keep going until it becomes profitable once again, chief executive Jarosław Popiołek said yesterday. Warsaw-based subsidiary of Spain?s Acciona will announce a new restructuring and growth strategy soon, Popiołek added. Unlike his predecessors, Mr. Popiołek, who took over just two weeks ago, says he cannot promise quick results and admits it will take at least six months for the new strategy to work. Separately, Mostostal subsidiary, a publicly traded petrochemical industry building company called Mostostal Płock said it would pay as much as 5 million zloty in dividends to its parent.

Automotive industry

Toora to list Polish unit on the WSE

Italian auto parts maker Toora said it plans to list its combined Polish units on the Warsaw Stock Exchange later this year. Aluminum rim manufacturer Zakłady Metalowe Nisko and a machining company called TMP FM Poland will be merged into one before the IPO, scheduled tentatively for the fourth quarter, Toora said. The two firms reported combined sales of nearly 145 million zloty last year.

Telecommunications

Internet Group to launch new VoIP products

Publicly traded Internet Service Provider Internet Group says it will launch new Voice Over IP and interconnection services within ?a few weeks?, chief executive and principal shareholder Józef Jędrzejczyk told PARKIET yesterday. Tiny Warsaw-based ISP, which has monthly sales of around 1 million zloty, estimates it could earn up to 30.000 euros each month from new services.

Personal finance

Consumer debt set to rise, think-tank says

Personal loans in Poland will expand by about 6 percent a year, The Gdańsk Institute of Market Economics, an independent, free-market think tank said in a report published yesterday. The institute, also known by its Polish name IBnGR says government attempts to restrict interest rates on consumer debt won?t work. Instead, the market will find a proper balance once local banks start competing with each other by lowering interest rates offered to consumers, IBnGR said.

Mutual funds

Pioneer won?t cut fund fees

Pioneer Pekao Investment Management has no plans for an across the board price cut of its mutual fund fees, chief executive Zbigniew Jagiełło said at a conference on Tuesday. PPIM, which manages assets of nearly 15 billion zloty, saw its earnings double to as much as 74.3 million zloty last year, including a 46.7 million zloty gain reported by its mutual fund management group.