Ciech pushes for more independence as floatation nears

The company's largest shareholder, with a 52% stake, is the State Treasury. Ciech's management said that it wants as little political interference in the enterprise as possible, and it seems like its expectation will come true, as the state treasury plans to withdraw from the group. "We have to calculate when it will be profitable to withdraw from this investment," said Deputy Treasury Minister Tadeusz Soroka. The Treasury will pull out of the venture in a series of steps in order not to influence the value of the company. In May, a definite decision should be made concerning the debut, on which Ciech hopes to raise between zł.150-200 million. The value of the company has been estimated at zł. 500 million. (Puls Biznesu, p. 8) A.K.