News Parkiet

Power industry

Elektrim scrambles for money

to pay for ZE PAK

Elektrim power and telecoms group has until the end of March to secure financing for the expansion of Zespół Elektrowni PAK power plant. If the money is not available, Poland?s third largest electricity maker could lose as much as 1 billion zloty ($255 million) in government compensation for the termination of KDT energy contracts. Elektrim owns approximately 38.5 percent of ZE PAK. EBRD, which is supposed to co-finance resumption of work at ZE PAK said it probably won?t make a decision on the matter before June.

Telecommunications

Netia on a lookout for new acquisitions

Poland?s second largest local phone company Netia S.A. says it is looking for new M&A opportunities after buying two smaller, fixed-line operators last year.

The company has already made a bid for KGHM?s Telefonia Dialog, third largest market player.

Netia?s CEO Wojciech Mądalski reiterated this year?s plans for double-digit sales growth this year. His company posted 14.9 percent increase in sales to PLN 700 million.

In January Netia paid almost 100 million zloty for regional fixed-line operator El-Net, gaining 61.00- new subscribers in Warsaw and in Bydgoszcz.

Equity markets

OMHEX closer to victory in a bid

for Vilnus stock exchange

OHMEX Nordic alliance bought minority stake in the National Stock Exchange of Lithuania, virtually assuring its victory in a bid for the Vilnus bourse. The Scandinavians now have 10 percent of the Vilnus exchange, but have already secured purchase of 24 percent stake from minority investors.

Warsaw Stock Exchange in a consortium with Euronext as well as Helsinki-led OHMEX are bidding for the 54 percent stake in Lithuanian stock exchange, scheduled for privatization this year.

Information Technology

Matrix.pl may list on WSE

Matrix.pl software house is considering listing its shares on Warsaw Stock Exchange in an IPO worth up to 30 million zloty, CEO and co-founder Marek Kobiałka told PARKIET yesterday. Warsaw-based company could use the money to pay for the development of new products and possible acquisitions, Kobiałka said.

Founded in 1993 by a group of Polish programmers, who previously worked in Switzerland, Matrix.pl is best known as the maker of Symfonia Enterprise Resource Management (ERP) software for small and medium-sized companies. The firm has annual sales of approximately 90 million zloty, with 5 percent net margins.