News Parkiet

Capital market

Long-term investments may be tax-exempt

The Ministry of Finance proposed to exempt from tax long-term investments in stocks. However, it hasn't define what is a "long-term investment". Igor Chalupec, the deputy minister, suggests to describe with this term investments that last for at least 3 years period. The Ministry also proposed to treat in a special way share issuance costs. That would help newly listed companies to pay lower taxes.

IT

Techmex's market debut in May

Techmex, a Bielsko-based computer distributor, today will disclose price range within which it will sell its shares through an initial public offering in May. The company will issue 3 mln shares. The four-day-subscription period starts on April 19th. BDM PKO BP brokerage valued a share at 39.1 zloty. BDM expects the company's revenue will climb this year to over 500 mln zloty from 317 mln zloty posted for the last year. It forecasts Techmex's net profit will double to 14 mln zloty.

Macroeconomics

Inflation rate rose slightly

Poland's annual inflation rate rose slightly to 1.7 percent in March, said Central Statistical Office. The year-on-year increase in consumer prices compared with 1.6 percent in February. Food and energy prices, which rose by 3.1 percent, are boosting the inflation. The inflation will probably accelerate in the coming months when higher taxes will come into effect, economists say. They forecast it will jump to 2.5 percent in May and will remain at that level until the year's end.

Privatisation

Privatisation revenue depends on PKO's sale

The Ministry of the Treasury plans to raise 8.83 bln zloty from privatisation this year. It will fulfill its plan if it manage to sell PKO BP, the biggest Polish lender, Przemysław Morysiak, the deputy minister of the Treasury, said yesterday. The Ministry wants to sell 30 percent stake in PKO through an IPO in November. Analysts say the stake may be worth 4 up to 6 bln zloty. So far this year, the Ministry raised 1 bln zloty selling minority stakes in smaller companies.