Drozapol-Profil hopes its IPO will help it become a steel market consolidator

The company hopes to raise zł.20-50 million from its floatation, which would be spent on acquisitions and on consolidating the market. "We intend to collect more money than previously anticipated, but we will debut this year," said company president Wojciech Rybka. The capital will be designated to create a national group selling steel products, producing steel constructions, machines and related elements. Wojciech Rybka refused to reveal potential take over targets, but the offer is likely to be well received by investors. "Our first half profit was twice the figure for the whole of 2003 and this month we exceeded last year's revenues," added Rybka. (Puls Biznesu, p. 13) M.M.