Bumper IPO share issues next year - but experts warn of stocks pitfall

According to their estimates privatization offers will constitute almost zł.16 billion. The value of the IPOs of the National Grid (PSE), Polish Oil and Gas (PGNiG), oil company Grupa Lotos and Southern Energy Concern (PKE) will amount to zł.6.7 billion. BH analysts say investments by pension and investment funds will help absorb the large amount of the new shares on the market. Marek Szymański from ING Investment Management suggests the supply of shares will result in the failure of some floatations and a fall in prices of previously listed stock. (Rzeczpospolita, pp. A1, B1) M.M.