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TVN starts trading at 35.2 zloty

Shares of TVN SA, one of Poland's two main commercial TV stations begun trading at 35.2 zloty on their market debut on Warsaw Stock Exchange yesterday. The stock opened 10 percent higher from its selling price of 32 zloty per share despite analyst estimates that high-priced TVN would have little to gain on the IPO.

Tuesday's trading volume in TVN stock reached PLN 366 million ($118 million). Over 5 million shares, a third of those sold in this month's biggest IPO changed hands.

Despite its massive debt load, TVN plans to invest over 60 million zloty next year, CEO Piotr Walter said.

Based on Tuesday's closing price of 35.5 zloty, TVN now has market capitalization of some 2.3 billion zloty ($740 million). Shares of TVN will probably be included in WIG20 blue-chip index sometime next year, WSE head Wiesław Rozłucki said yesterday.

Personal care products

Hygienika shifts production to Marki

Hygienika SA diaper and tampon manufacturer plans to consolidate production in Marki near Warsaw, increasing its output of feminine hygiene products. Production at Hygienika's 1.2 million euro Marki plant will start in February, chief executive Hubert Stępniewicz told PARKIET on Friday. The company, which lost over half its value since the IPO in June, says it expects up to 3 million zloty in extra gains selling one of its properties in Wesoła, east of the Polish capital.

Personal care products

Unimil sells new shares to buy Condomi AG

Unimil S.A, Poland's only publicly traded condom maker, said it has raised 68 million zloty selling 1.7 million new shares to pay for the acquisition and restructuring of its parent-company, Condomi AG from Germany. Kraków-based firm has been planning to sell new shares worth as much as 100 million zloty to buy Condomi's bank loans and other liabilities. Unimil said it would go ahead with the planned takeover despite lower than expected demand for new stock.