News Parkiet

Privatization

PKO BP starts trading at 23.2 zloty

Shares of PKO BP, Poland?s no. 1 bank by assets, begun trading on the Warsaw Stock Exchange on Wednesday at 23.2 zloty or 17.8 percent above the offering price for most retail investors. The stock closed at 24.5 zloty on huge trading volume as institutional investors added to the number of shares they were allowed to buy in the country?s biggest ever initial public offering.

A record 2.78 billion zloty worth of PKO BP shares, or 16 percent of the stock sold in this month?s IPO changed hands on Wednesday, an all-time record in terms of trading volume in the thirteen-year history of Poland?s stock market.

Market watchers said foreign investors were buying PKO BP citing its capitalization, market value and liquidity. PKO BP will be among the three biggest companies in Poland?s blue-chip WIG20 index when it will be added in late December.

Polish government has raised approximately 7.5 billion zloty ($2.3 billion) selling 38 percent stake in PKO BP.

Media

Broker FM

reports third-quarter profit

Broker FM, a holding company that owns Poland?s no. 1 commercial radio station RMF FM, reported third-quarter profits of 2.7 million zloty, or 0.81 zloty per share after getting rid of money-losing TV project. Kraków-based firm founded by Polish expatriate Stanisław Tyczyński said its revenue was up almost 40 percent to PLN 36.5 million ($11 million).

Wholly-owned RMF FM accounted for three-quarters of Broker?s sales. EBITDA stood at 5.6 million zloty.

Footwear

CCC plans 50 million zloty offering

CCC shoe retailer has announced plans of a 50 million zloty Initial Public Offering later this month one day after securing SEC clearance to sell 6.4 million shares at around 7.8 zloty per share.

The company said it would use the proceeds to open 95 new retail outlets across the country. CCC now has 5 percent share of Poland?s retail footwear market, with annual sales at PLN 246 million last year.

Two of the existing shareholders, CEO Dariusz Miłek and private investor Leszek Gaczorek, said they plan to sell 1.6 million shares of CCC.