Warsaw (Puls Biznesu) – Polsat, Poland’s biggest private TV station owned by Zygmunt Solorz-Zak, is looking for an advisor who will help in its IPO.
The listing should be conducted in the fourth quarter of the year at the latest. ‘We are struggling to prepare financial statement for 2004 and changing accounting standards into international ones and at the same time we are starting to look for the advisor’, Zygmunt Solorz-Zak said.
Shares from a new emission will be listed. Polsat wants to raise funds for further development. A minority stake of 20-25 percent will be offered. In 2004, Polsat’s advertisement income amounted to PLN 1.48 billion (EUR 362.6 m) against PLN 1.64 billion a year earlier, according to data of AGB Polska research company. Polsat has not published its results for 2003 and 2004 yet.
(PLN 1 = EUR 0.245)
Podpis: APA - Austria Presse Agentur