Warsaw (Puls Biznesu) – At the breakthrough of December and January, PLL LOT, the Polish flag carrier will have its issue prospectus.
“We want to prepare all documents necessary for the IPO, including the prospectus”, Marek Grabarek, LOT CEO said. The date of the IPO will be decided by JP Morgan bank, which is helping the airline at the IPO. “It will be made in the first half of 2006 but detailed date depends on the situation in the market”, the CEO added.
“The carrier's results are strictly connected with the situation of the economy. If the latter improves, the company's situation should, too. Listing the company in several months' time when there should be good situation in the stock market seems a good idea”, Adam Ruciński, TFI PZU investment advisor commented.
A 25.1 percent stake of LOT owned by Sair Group's bankruptcy officer plus new shares constituting 30 percent of today's capital will be offered. “The value of the company will be published at the end of October”, Marek Grabarek said. Till year-end, the decision will be made in LOT concerning short-hauld planes. “We need planes for 130-200 passengers which may fly 4,500-6,000 km. We probably will order fewer than 10 planes”, Marek Grabarek explained.