Poland/Enterprises/Media
Warsaw (Puls Biznesu) – Zygmunt Solorz-Zak, the CEO of Polsat television broadcasting, told ‘Puls Biznesu’ in an interview that he had decided for an IPO of Polsat. ‘I have made an informal decision’, Polsat’s CEO said. The company will issue new stock, that will build a 20-30 percent stake of the company. ‘We need money for investments’, Zygmunt Solorz-Zak explained.
Polsat has been looking for an investor for nearly three years. According to Zygmunt Solorz-Zak, it was too time-consuming to prepare new analyses for each interested party. In his opinion, the stock will show the real value of his company. Polsat is already preparing the issue prospectus. ‘This is going to be a long process because we are a big company. The IPO will be possible next year, probably in the second half’, Polsat’s CEO said.
In the near future, TVN television will conduct its IPO. A 25-percent stake will be worth USD 150 million (EUR 118.8 million). ‘Polsat is a better company. The price depends on many elements, including debts. We do not have big debts’, Polsat’s CEO said.
Analysts welcomed the plans. ‘The offer may be of much interest for investors. Because TVN is going to be listed its obvious that Polsat has to look for capital not to stay behind. Investors will have the opportunity to compare both companies’, Remigiusz Sopel, the analyst from Internetowy Dom Maklerski commented. ‘It is a good idea as in the world the majority of media companies are listed. Besides, media have big influence on politics and society. Therefore, transparency should be possibly big’, Wojciech Szymon Kowalski, a free-lance analyst added.
(USD 1 = EUR 0.792)