BA CA issue prospectus to be made public tomorrow

Austrian analysts believe that Polish investors will spend up to around EUR 100 million to buy shares of Bank Austria Creditanstalt (BA CA) when they hit the floor. The issue prospectus is to be presented to selected investors tomorrow, and shares will go on sale on October, 14. Meanwhile BA CA's management board promised that dividends will be paid in złoty and not euro and that the bank would be listed only in Warsaw and Vienna. Martin Gruell from BA CA also said that the bank was planning to invest some EUR 500 million in Central and Eastern Europe within three years, primarily by buying stakes in local banks abandoned by other foreign investors. BA CA may be willing to strengthen its engagement in Poland, following the successful takeover of bank PBK BPH, whose development is still accelerating. Ildiko Fueredi from BA CA announced it does not intend to enlargen its 71% stake in the Polish bank. (Puls Biznesu, pp. 1, 7; Parkiet, p. 3) M.K.