News Parkiet

Petrochemicals

Oil could break $60 per barrel,

analysts say

Prices of crude oil keep going up on the global market, with Brent crude rising to an all-time high of $46.8 per barrel yesterday. Some people on the financial markets say oil could go as high as 60 dollars if the trend continues. Gasoline prices in Poland are still relatively low because of zloty?s recent strength versus US dollars, but economists warn that won?t last long.

Banking

PKO BP privatization

delayed by parliament

Polish government has rejected a non-binding proposal by the parliament to bar foreign investors from participating in privatization sale of PKO BP, the country?s largest bank yesterday. However, Treasury Minister Jacek Socha said PKO BP?s debut on the Warsaw bourse will be postponed at least until November 10. Subscriptions from individual investors will begin on October 11, four days later than originally planned. Smaller IPO of WSiP textbook publisher will also go ahead as planned, despite attempts by the Sejm to block the sale.

Chemicals

Unimil raises cash to buy parent company?s debt

Unimil SA, Poland?s sole publicly traded condom-maker, has announced details of the secondary offering scheduled for October 12 through 14. Kraków-based company says it will seek as much as 100 million zloty ($28 million), raising money to buy unpaid debts of its parent, Germany?s Condomi AG. ?This way we will take indirect control of Condomi?, chief executive Grzegorz Winogradski said. In addition to debt repayment, Unimil plans to spend approximately 16 million zloty to buy an unnamed European condom manufacturing company.

Institutional investors from Poland have already said they would buy the entire offering of 2 million shares. Unimil now has just over a million shares outstanding.

Telecommunications

ATM starts trading at 23 zloty

Shares of ATM SA, a niche data carrier from Warsaw, went public at 23 zloty per share or 4.5 percent above the company?s IPO price yesterday. ATM and its existing shareholders sold 25 million zloty worth of stock priced at 22 zloty per share in a small offering earlier this month. ATM, which has annual sales of less than 100 million zloty, plans to spend IPO proceeds to expand its fiber optics network in Warsaw and elsewhere.

Telecommunications

Polkomtel sale this year unlikely, shareholder says

Polish shareholders controlling Polkomtel SA, the country?s third largest mobile phone company, are unlikely to sell their combined 60 percent stake this year, chief executive of PSE, a major shareholder, said yesterday. ?We are not planning Polkomtel sale, there?s no need to rush?, Stanisław Dobrzański said.