News Parkiet

Forwarding

Pekaes fell as employees sold off their shares

Shares of Pekaes trucking company, which begun trading on the Warsaw Stock Exchange on Friday, dropped 1.5 percent at the end of trading session. Shares were sold to public at 10 zloty and opened on Friday at 12.5 zloty. They fell sharply few minutes later as the employees started to sell off their holdings. "Many employees were impatient waiting for the company's debut on the WSE. They have made good money on the investment," told PARKIET one of the Pekaes officials, who asked not to be named. Pekaes employees, who decided to sell shares on Friday, garnered a 300 percent profit.

The economy

Ukraine's economic crisis not likely

As thousands of Ukrainians continued protests against forging presidential election results, Ukrainian businessmen and foreign investors don't seem to worry about the country's economy, which grew over 12 percent in the first ten months of this year. Viktor Kapustin, vice president of the parliamentary banking and finance committee, said Friday that Ukrainians had started withdrawing their money from banks although he added it wasn't a significant problem. Economist say economic crisis in the 50 million nation is unlikely because the conflict is strictly political in nature.

Beverages

Polmos Lublin seeks money for acquisitions

Polish Securities and Exchanges Commission may approve IPO plans of Polmos Lublin as early as November 30. The company is likely to become the first publicly traded vodka maker on the Warsaw Stock Exchange. "The company will issue new shares, as well as existing shareholders will sell some of their holdings," CEO Wiesław Skrobowski told PARKIET. He added, the firm would spend the money raised in an IPO to improve its sales and also would seek acquisitions. "We want to be a dynamic player in consolidating our industry," said Skrobowski.