News Parkiet

Equity markets

Investors lining up for privatization IPOs

Equity analysts working at London-based emerging market investment funds say they are interested in future privatization IPOs in Poland. Polish government has indicated it wants to raise as much as 20 billion zloty in a series of stock market sales within the next few years, selling stakes in WSiP publishing house, Ciech chemicals trading company and several power plants. The largest and potentially the most attractive IPOs include state-owned savings bank PKO BP, scheduled for privatization at the end of this year.

Equity market

Poland to speed up privatization,

Kaniewski says

Treasury Minister Zbigniew Kaniewski said the government has redoubled its efforts to sell as many state-owned companies as possible this year, offsetting the shortfall in public spending. Kaniewski, who took over as Treasury Minister several weeks ago, reiterated plans to float 30 percent of PKO BP savings bank later this year.

He also said the government is still counting on privatization revenue from the IPOs of PKE power plant and Enea power distributor, as well as POGC, Poland?s national oil and gas company.

By the end of February Treasury Ministry raised just 975 million zloty from privatization sales. The government has previously announced privatization target of 8.8 billion zloty for all of 2004.

Chemicals

Boryszew raises takeover bid for Oława

Boryszew anti-freeze maker has raised its offer for minority-held stock in publicly traded Oława S.A. from 35 to 43 zloty per share. The move comes after a group of minority investors threatened to block Boryszew?s plans to delist the company. Boryszew and its subsidiaries already has approximately 87 pct. of Oława?s outstanding stock. Oława makes lead oxide powder and other chemical compounds used by automotive and glass-making industries.

Equity market

WSE halts trading

WSE authorities suspended trading yesterday afternoon, citing unidentified technical glitch in one of its IT systems. The bourse resumed trading one hour later.