News Parkiet

Privatization

PKO BP privatization sale begins

Crowds of Polish investors flocked to buy shares of PKO BP, the country?s largest bank in the biggest privatization IPO in years, attracted by government incentives and discounts. The Treasury Ministry, which handles the IPO, sold 1.1 billion zloty worth of PKO BP stock in less than six hours to 65.000 people, some of whom have been camping out to buy the company for three days or more. Some 720 million worth of PKO shares were offered on a ?first-come, first-serve basis? initially, but the government made a last-minute decision to boost the offering to PLN 1.1 billion because of huge demand from local investors.

More people are expected to sign up for PKO BP later this month, when the government starts selling shares through domestic brokers. The Treasury said earlier it would offer 75 million shares of PKO BP, worth around 1.5 billion zloty through 514 brokerage outlets across Poland, but market watchers say the number may be raised at the expense of institutional investors.

Metals

Government delays Impexmetal sale

Boryszew chemicals maker and Bancroft, an investment firm, are getting impatient because of new delays in the sale of Impexmetal, a large, state-controlled non-ferrous metals trading company whose shares are listed on the Warsaw Stock Exchange. The bidders also question Impexmetal? plans to sell its key asset, Aluminum Konin Impexmetal aluminum works before the group?s impending privatization.

Information Technology

ComputerLand to sell

Alice Software insurance products

Poland?s no. 2 IT services company ComputerLand SA has signed a partnership agreement with German software provider Alice Software Systems, the two firms said yesterday. Warsaw-based IT firm has agreed to sell Alice?s software products for the insurance industry.

?Raising our stake in the insurance IT market is one of our priorities for the upcoming year?, vice CEO Sławomir Chłoń said. He wouldn?t say whether ComputerLand is talking about new contracts to sell Alice software here.

Banking industry and other financial institutions is a big market for ComputerLand, generating almost half its sales in the first six months of this year. The group reported 1H revenue of PLN 204 million.

Just days ago ComputerLand paid PLN 20 million for Support.pl, a privately held IT firm that specializes in insurance industry. It also has a stake in Zeto Rodan, a niche software house designing software products for stockbrokers and clearing houses.

Petrochemicals

Grupa Lotos to buy Glimar refinery after all

Poland?s second largest oil refinery Grupa Lotos will buy insolvent Rafineria Glimar, a regional refinery from south-central Poland, the head of oil industry privatization agency announced yesterday. Krzysztof Żyndul from Nafta Polska said earlier the government opposes planned merger of Gdańsk-based Grupa Lotos with Glimar because it would hurt its prospects before next year?s Initial Public Offering on the Warsaw Stock Exchange.

Building materials

Tras stock sale successful

Window-frame manufacturer Tras sold 4.8 million zloty worth of new stock in a secondary offering that ended last week, Tychy-based company said in a statement before the market opened yesterday. Cash-strapped firm will use the proceeds to buy out minority shareholders of Intur KFS, a subsidiary.

Power industry

Polish Energy Partners files for IPO

Polish Energy Partners, a privately held heat and power generator co-founded by Enterprise Investors venture capital fund has filed for IPO with Polish stock market regulator KPWiG, sources at the company said yesterday.

?We would like to use IPO proceeds to complete six new energy projects by 2006, including several wind farms and heat and power generating plants?, chief executive Robert Stelmaszczyk said.

PEP, which has annual