Poland: Lotos and PGNiG may be listed at the same time, analysts say

APA - Austria Presse Agentur
29-03-2005, 12:32

Warsaw (Puls Biznesu) – Lotos, Polish fuel company and PGNiG, Polish gas monopoly, are preparing for their IPOs soon. Both have their issue prospectuses ready and would like their IPOs to be conducted in June. Jacek Socha, the Minister of Treasury, has said recently that only one of them would be chosen for privatisation.

Warsaw (Puls Biznesu) – Lotos, Polish fuel company and PGNiG, Polish gas monopoly, are preparing for their IPOs soon. Both have their issue prospectuses ready and would like their IPOs to be conducted in June. Jacek Socha, the Minister of Treasury, has said recently that only one of them would be chosen for privatisation. According to analysts and funds, he should not have such dilemma as both companies may place their offers immediately.

‘Experience shows that the market may absorb everything’, Grzegorz Zatryb, open pension fund Skarbiec Emerytura deputy CEO commented. There is not much data concerning the offers of Lotos and PGNiG but they are estimated at, respectively, PLN 1 billion (EUR 240 m) and PLN 1.5 billion. ‘These are very big amounts of money but I’m sure they will succeed despite present bearish moods in the stock market. But their earnings may be relatively lower than those achieved by previous privatisations’, Adam Rucinski, fund manager in pension fund PZU.

Specialists stress that both companies are big, good and well-known. ‘These IPOs will be described in newspapers and TV, both in Poland and abroad. This will lure investors’, Adam Rucinski explained. ‘These are important companies, which may be included in some indices and benchmarks, so investors, especially the big ones, cannot miss such opportunity’, Grzegorz Zatryb said.

In order for the privatisation transactions to become success, foreign investors will have to take interest in them, specialists believe. Zbigniew Mrowiec, deputy CEO at the securities and exchange commission KPWiG said that if the companies’ prospectuses are well prepared, they could be allowed to be listed within 3-4 weeks.

(PLN 1 = EUR 0.240)Poland/Enterprises/Oil and Gas/IPO

 

© ℗
Rozpowszechnianie niniejszego artykułu możliwe jest tylko i wyłącznie zgodnie z postanowieniami „Regulaminu korzystania z artykułów prasowych” i po wcześniejszym uiszczeniu należności, zgodnie z cennikiem.

Podpis: APA - Austria Presse Agentur

Polecane

Inspiracje Pulsu Biznesu

Tematy

Pzu

Puls Biznesu

Puls Inwestora / Poland: Lotos and PGNiG may be listed at the same time, analysts say