Companies begin to put their IPO's on hold

Most analysts privately advise others to adopt a similar wait-and-see attitude for at least several weeks. The first company to pull out was Hoopla.pl, an online white goods and consumer electronics retailer. ZM Herman, a meat producer, whose subscription closes on February 14, now wants to push back the IPO and lower the bottom range of its offer price. "We are terrified by what is happening on the WSE," says Teresa Pietrzyk, Herman Vice-President. Krossglass, a maker of fibreglass products, also is waiting for the stock market to stabilize, as is Pro-Bud, a construction firm. Two companies which got the green light only on Monday, namely Hardex, a producer of felt boards, and Harper Hygienics, also said they would wait with their IPOs despite earlier statements to the contrary. One exception to the rule may be Cyfrowy Polsat, whose long-awaited IPO is expected to be a success with institutional investors. "We will make the decision in a matter of days," said a spokeswoman for the company. Most stock market analysts reckon a rebound should come within several weeks. Interestingly, NewConnect, the small-cap market that is theoretically more risky, is doing better than the WSE and is attracting new issues. Also on the plus side the WIG index closed up 0.74% at the close of trade. (Parkiet, p. 1, 14; Puls Biznesu, p. 1, 4, 5; Gazeta Wyborcza, p. 1) R.M.