Since its debut on September 18th, the stock of Hydrobudowa Wloclawek has gained 15.3 percent. Yesterday, it cost PLN 640. The capitalization of the company amounts to PLN 1.77 billion. 76 percent of the capital is owned by listed PBG. The company is controlled by Jerzy Wisniewski. His stake has grown 18.6 percent from PLN 568m to PLN 674m.
Price increases are supported by positive news. First, the management announced 2007 forecast of PLN 35m of net income. Then, DM BZ WBK brokerage issued recommendation with PLN 650 as the target price. Yesterday, before the market opened, ING TFI investment fund said it had 7.19 percent stake in Hydrobudowa Wloclawek. Hydrobudowa Wloclawek said that the consortium it is a member of had signed contract to develop sewage treatment plant worth EUR 31.5m. The company has PLN 1.3 billion worth of orders.
“We have already submitted offers for projects worth PLN 500m and we will submit orders for contracts worth PLN 700m this year”, Anna Sylwestrzak, Hydrobudowa Wloclawek spokeswoman said.
(PLN 1 = EUR 0.265)