Countdown to bank PKO BP November floatation

PKO BP, the largest national retail bank, will debut on the stock exchange in the first half of November. The bank's prospectus is to be filed with the Securities and Exchange Commission (KPWiG) within the next few days. "There are only technical issues to be settled as regards the prospectus," said PKO BP president Andrzej Podsiadło yesterday. However, he would not reveal how large a stake will eventually be floated. It is only known that employees will receive slightly over 10% of the bank's shares. Podsiadło also discussed the acquisition of a 25% stake in the Post Office Bank by PKO BP, ruling out a merger of the two banks and saying that the Post Office Bank should be complementary to its big brother. In the first half of this year, PKO BP recorded a net profit of zł.844.4 million, a 17% increase over the respective period last year. (Rzeczpospolita, p. B7) T.J.