News Parkiet

Banking

PKO BP employees to receive 2 bn. zloty worth of stock

Staff members at PKO BP, Poland?s biggest bank, will receive an average of 50.000 zloty ($13.100) worth of stock each when their company goes public in an IPO in mid-October. Polish government has agreed to transfer 10.8 percent stake in PKO BP to all employees hired before April 2000, when the bank lost its special status as a state-owned company and became a regular corporation. Some 36.800 workers at PKO BP are expected to receive the stock. Actual number of shares will depend on seniority.

Mutual funds

Mutual fund outflows highest since Dec. 2003

Assets under management by the 150-odd Polish mutual funds rose 198 million zloty, or 0.57 percent to PLN 35.1 billion at the end of August despite the fact that new purchases were actually outnumbered by withdrawals by almost 160 million zloty, Analizy OnLine, an industry research group said. Higher deposit rates and yields on retail bonds made other investments more attractive, Analizy said in a monthly report.

Information Technology

ATM IPO may be oversubscribed

ATM SA, a Warsaw-based data carrier that sells broadband access to Internet companies and other corporate clients, received bids for ten times the number of shares it plans to sell in a 26-million zloty IPO that ends later this week, sources at the company told PARKIET yesterday. ATM has allocated 300.000 shares, at 22 zloty each, to retail investors. Institutional investors will be offered by to 817.000 existing shares sold by pre-IPO shareholders.

Information Technology

MacroSoft to raise more money

on the public market

ERP software house MacroSoft SA plans to raise between 5 and 10 million zloty in a secondary offering early next year to pay for expansion, company officials told PARKIET. MacroSoft, which has 1.7 million shares outstanding, could end up selling up to 300.000 shares to develop new software products.