News Parkiet

Equity markets

Investors flock to ATM's 46 million zloty IPO

Andrzej, a retail investor who woudn't give his last name is so sure he will profit from the initial public offering of ATM Grupa TV producer, he is using much of his life savings to sign up for 250 shares of Wroclaw-based company, priced at 36 zloty each. He is not alone. Dozens of retail investors stormed Warsaw brokerage house DM Millennium, lining up to buy ATM at one of two brokers selling the stock on Tuesday the final day of this year's last IPO. Sources say the firm's retail tranche of just 205 000 shares will be heavily oversubscribed.

Telecommunications

Poland forgives KGHM's phone company license fees

Polish Infrastructure Ministry has written off 570 million zloty in license fees and other payments by Telefonia Dialog, local phone company wholly-owned by KGHM Polish Copper mining group. Friday's decision means Dialog will likely post large, one-time gain this year.

Third-largest fixed-line telecommunications firm in Poland, Telefonia Dialog is projecting annual sales of some 450 million zloty next year. The firm is already EBITDA-positive thanks to rapid regional expansion from its home base in south-western Poland, with financing provided by its parent-company.

Fashion industry

Redan takes over Troll specialty clothing retailer

Redan S.A. fashion retailer has announced the acquisition of two niche clothing chains using proceeds from recent IPO. Publicly traded firm said in a statement it would pay PLN 3 million plus 0.45 million dollars and up to 80 000 own shares for a majority stake in Troll Market, a new holding firm controlling Troll and Trend Station clothing retailers, which design and sell lingerie and women's clothing.

Public finances

Government asks bureaucrats to cut cell phone costs

Polish government is planning a new cost-cutting program, Council of Ministers said in a statement on Tuesday. Government bureaucrats will have to cut their mobile phone bills by 15 percent, saving an estimated 6.2 million zloty per year.