Capital market

   Internet portal Arena.pl wants to launch a public offering worth $35 million-$40 million and debut on the Warsaw Stock Exchange (WSE) by March 2001, said Arena Chairman Witold Grzesiak. Grzesiak said that Arena.pl, whose share capital now amounts to zl. 27 million ($5.85 million), wanted to sell at least 50% of its shares to finance development. "We need money for the development of our products, mainly those linked to e-commerce, for marketing and operational costs," he said. "We will mull selling even 70% of our shares if necessary." Arena, which says it has almost 500,000 users who surf its pages at least three times per month, is owned by CentralEuropa.com, which is in turn owned by U.S. venture capital firm TDA Capital Partners. Last week Interia.pl, one of Poland's most popular portals, said it planned to become the first internet portal on the WSE by listing a minority stake in coming months.