Warsaw (Puls Biznesu) – Yesterday, shares of SkyEurope low-cost airline were for the first time listed in the Warsaw stock exchanged. In the beginning they added 8 percent, similarly to the rises in the Vienna market. Shares sold in IPO cost EUR 6.0. At the opening, they cost PLN 25.5 (EUR 6.5). It’s quite a good result for SkyEurope which has not generated income yet.
This company is mainly evaluated basing on expectations. It is in the development phase and future will show how it manages. Transportation market is huge and develops dynamically but not everybody will find its place there, Adam Rucinski, TFI PZU investment advisor said.This will be a speculative paper and I don’t believe it will be very popular in the Polish stock market, Miroslaw Saj, DM BISE broker added.So far, SkyEurope had EUR 27m of funds from private equity funds. The company built four bases in Poland, Hungary and Slovakia. It has transported 2.4m passengers with 15 airplanes. It has earned EUR 60m in the IPO. Those funds will be spent mainly to develop fleet. Wizz Air may be another low-cost airline to be listed. LOT, the Polish flag carrier promised its IPO in the first half of next year.(PLN 1 = EUR 0.256)