News Parkiet

Equity markets

Leveraged investors may lose money

on Zelmer IPO

Retail investors who borrowed funds to buy shares of Zelmer SA, a large, state-owned home appliance manufacturer, could lose money unless the stock gains more than 40 percent from its IPO price of 12.9 zloty. The offering was fifty times oversubscribed, in part because too many people tried to buy shares at the margin, taking expensive loans from banks and stockbrokers.

Law

Poland to lower equity threshold

for investment advisors

Finance Ministry officials said they are working on a new law that would allow limited liability companies to offer personal investment services Industry sources claim the move will open up investment services market.

Equity markets

Śrubex goes public

Śrubex SA, Łańcut, eastern Poland-based manufacturer of screws and metal fasteners said on Friday it plans to sell 80 million zloty worth of existing stock and new shares in an IPO set to begin on January 27. The company, now held by several privatization and investment funds, says it needs up to 40 million zloty to pay for expenses and upgrades.

Existing shareholders, including three NFI privatization funds controlled by Bank Austria's CA IB, plan to sell half a million shares at around 80 zloty each.

Information Technology

ComArch sees stronger

export sales

ComArch software house estimates its export sales of billing software and other IT products could rise to 100 million zloty ($31 million), or nearly a quarter of its total revenues this year. Export sales accounted for 20 percent of ComArch's total revenues in 2004.