Polmos Lublin vodka producer reduces 97 percent of shares orders

APA - Austria Presse Agentur
opublikowano: 09-02-2005, 12:35

Warsaw (Puls Biznesu) – Polmos Lublin, Poland’s vodka producer, which is going to be listed in the middle of February, has built its book of orders. The shares will cost PLN 50 (EUR 12.4), while the range amounted to PLN 45-58. This means, the company has been evaluated at PLN 233 m.

Warsaw (Puls Biznesu) – Polmos Lublin, Poland’s vodka producer, which is going to be listed in the middle of February, has built its book of orders. The shares will cost PLN 50 (EUR 12.4), while the range amounted to PLN 45-58. This means, the company has been evaluated at PLN 233 m. Orders placed by individual investors who were offered 500,000 shares, were reduced by 97 percent. Institutional investors, who are still subscribing to the offer today, will be offered 2 m shares. Polmos Lublin wants to earn about PLN 100 m at this issue.

Analysts have different opinions concerning the share price. ‘It reflects the value of the company. Polmos has attractive products including Zoladkowa Gorzka vodka and it is doing well. There is big demand for its shares and one may expect big reductions’, Krzysztof Goluba, BDM PKO BP analyst commented. ‘If Polmos Lublin manages to buy Polmos Bialystok, the price of PLN 50 is suitable or even too low. But I do not think the company will success’, Bogna Sikorska, BM BGZ said. It is possible that Polmos Lublin submits an offer to buy Polmos Bialystok in a consortium with Diageo. Both companies refused to comment on the possibility, however.

(PLN 1 = EUR 0.249)Poland/Enterprises/Beverages

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