Today, the last rehearsal of ZA Tarnow management by the commission of financial supervision KNF will be held.
“As far as I know, KNF has no more objections to the prospectus. On May 26th, I expect it will be published”, Aleksander Grad said.
ZA Kedzierzyn will be another bait for investors.
“At the end of the year, Kedzierzyn’s prospectus should be submitted at KNF. The IPO will be conducted early 2009, probably in February”, Aleksander Grad forecasts.
“The stock exchange is a suitable place for companies which need big money to finance their investments. Chemical giants are perceived as attractive on international financial markets. Their capitalization is high, which provides investment security”, Ludwik Sobolewski stressed.
“I can see that strategic investors, including foreign ones, are already very much interested in the stock of chemical producers”, Aleksander Grad added.
He is sure there will be no problem with the IPOs and promises the second stage of privatization already.
“Then, a real fight between investors will take place. The treasury and Nafta Polska, the state-owned enterprise founded to privatize the chemical sector, will sell their whole stakes in chemical companies. I hope this will increase the interest of financial investors who would like to buy Tarnow and Kedzierzyn stakes in the first stage when the capital will be increased”, Aleksander Grad believed.
In his opinion, these investors should buy the shares first in order to earn in the second stage of privatization when strategic investors will have to pay more to seize control over the firms.
The second stage of privatization will take place in 2009.
“The second stage of privatization of Police and Pulawy which are already listed will take place in the years 2009-10”, Aleksander Grad added.
(PLN 1 = EUR 0.296)