All systems go for June IPO for Grupa Lotos

According to the schedule, the price range of shares will be published on May 13 and investors will be able to subscribe for shares between May 16-30. Lotos will probably debut on the Warsaw Stock Exchange before June 12. Grupa Lotos hopes to collect around zł.900 million from the issue. According to analysts, despite the unfavorable situation on the Warsaw bourse, the offer has a strong chance of being a success. "I am an optimist," stated Sebastian Słomka, an analyst with PKO BP brokerage house, " I think there should be no problem with Lotos' offer." He added that currently large offers have a much greater chance for success. Lotos intends to use the raised funds to buy three refineries in the South of Poland and Petrobaltic from the state treasury. (Puls Biznesu, pp. 1, 6) E.B.