Apparel producer's IPO attractive, if irregular

However, Puls Biznesu claims that the company's issue prospectus contains several irregularities connected with Monnari Trade president Marek Banasiak's past activities. The document does not mention the fact that Banasiak makes child support payments to his two children, who are also shareholders of the company and own shares worth zl.100 million. The prospectus also refers to the company previously owned by Banasiak, As-Line, and says that the company went bankrupt because its contractors did not make payments on time. However, according to Puls Biznesu, the court refused to recognize As-Line's bankruptcy due to a lack of assets to cover its creditors claims. The court ruling also mentioned Banasiak's "inappropriate loan and price policy" and "wrong economic policy." Regardless, according to most analysts Monnari Trade's IPO will be successful. "I am quite sure that Monnari's IPO will be a success," stated Jaroslaw Parczewski, an analyst with DM BGZ. (Puls Biznesu, pp. 1, 4-5) E.B.