Cyfrowy Polsat's IPO secures profits and praise

The debut of digital platform Cyfrowy Polsat (CP) on the Warsaw Stock Exchange (WSE) was successful and its shares rose by 5.12% on the first day of trade. WSE president Ludwik Sobolewski congratulated the company in relation to carrying out the debut in 'difficult' times, but also stressed that this was the second largest non-privatization transaction in the history of the bourse.

However, despite of the success CP's owner Zygmunt Solorz-Żak is not planning to float his broadcaster Polsat on the bourse any time soon. "There is no chance for Polsat's IPO this year. There are no such investment plans at the moment, as it does not need an investor, nor proceeds from the bourse," said Solorz-Żak.

He added that if Polsat was indeed floated, the structure of the offer would be similar to the one of CP and a stake of around 25% would be offered. Cyfrowy Polsat is getting closer to launching its mobile virtual operator project soon and is currently awaiting the execution of the ruling of the Electronic Communication Office (UKE) by Centertel and Polkomtel.

The firm has already launched a billing system and CRM, but no actual revenue projections are provided. (Rzeczpospolita, p. B3; Puls Biznesu, pp. 1, 9; Parkiet, p. 11) M.M.