News Parkiet

Equity market

IPO markets are back

At least a dozen Polish firms are expected to file for IPO within the next three months. Polish SEC already has its hands full working on twelve IPO prospectuses filed earlier and could double the number of meetings scheduled to approve new listings to two per month. IPO candidates include Elstar Oils Canola oil-maker, Artman clothing retailer, Inter Cars and JC Auto car parts distributors, WSiP educational publisher and Hygienika, which makes feminine hygiene products and baby diapers.

Equity markets

Prizes awarded to student investors

Gazeta Giełdy Parkiet together with Polish president Aleksander Kwaśniewski and the SEC announced the winners of the second edition of Internet Stock Market Trading Contest on Friday, awarding MBAs, internships and educational trips to some of the 2600 students who participated in the event.

Internet

o2.pl posts record earnings on 30 pct. margins

o2.pl web portal has more than doubled its sales to PLN 1.8 million last year, showing profits rare for an Internet company. Earnings rose to 570.000 zloty ($150.000) from PLN 0.26 million in 2002. o2.pl sells ISP services using third-party infrastructure in addition to revenue from advertising on its website and banners displayed on Tlen.pl instant messenger.

Engineering

Contractor files for Mostostal?s bankruptcy over payment dispute

MPRD Warszawa road building company has filed for bankruptcy of Mostostal Warszawa construction group over a disputed payment. Sources close to MPRD say Mostostal has ?millions of zlotys? in unpaid bills for construction work on Siekierkowska highway in Warsaw. Publicly traded Mostostal charges MPRD is trying to ?blackmail? the company in an attempt to extort the payment.

Equity markets

Armatura IPO uncertain

Kraków-based Armatura bathroom equipment maker may call off or delay IPO plans because its main shareholder believes it has non-core assets that could be sold to raise the cash it needs. Armatura, which is controlled by PZU Życie insurer is planning to relocate its production plant located in downtown Kraków and sell the property.