News Parkiet

Capital market

Attorney's office in Warsaw investigates Impel

District attorney's office in Warsaw is investigating possible violation of securities regulation by Impel, publicly traded cleaning and security company. The prosecutors are investigating whether the company should have informed investors in its last year's IPO prospectus that it would likely lose most of its public subsidies for hiring lightly disabled workers after Poland's EU entry in May. Impel has 8 thousand disabled employees out of total of 20 thousand. New rules forced the company to cancel its previous earnings forecast in July.

Privatization

At least eight state-owned companies to go public next year

Polish Ministry of State Treasury plans to list on the Warsaw Stock Exchange shares in at least eight state-owned companies in 2005. Privatization sales may bring the government 2 up to 3 billion zloty. Zelmer home-appliance maker may be the first state-owned enterprise to go public next year. "Zelmer IPO is scheduled for January," Dariusz Witkowski, the deputy treasury minister said yesterday. Other state firms to privatized next year include Ciech chemicals trading company, Polmos Białystok vodka maker and Enea power plant. Share sale of Grupa Lotos second largest Polish refinery is planned on September.

Venture capital

bmp launches share offering

German venture capital fund bmp on Monday launched a sale of a new issue of shares to existing shareholders. Outside investors may apply for bmp's shares starting next Tuesday, November 30, in parallel sales on the German and Polish markets. The subscription period will run till December 8, when the offering price will be set. The initial date for dual listing of bmp shares in Warsaw and Frankfurt has been scheduled on December 16. bmp investment portfolio includes 61 percent stake in internet portal Bankier.pl and 40 percent stake in e-marketing agency K2 Internet. The fund aims to nearly triple its investment in Polish companies to a total of 7.1 million euro.