Early investors sign up to grab Netia shares May 19

Investors signing up to acquire shares in telecoms company Netia, beginning May 19, will pay the higher parity price of zl. 150 per share, while the official price will be established June 7. The company is planning its IPO in July and will become the third telecoms operator after Telekomunikacja Polska SA (TP SA) and Szeptel to be listed on the Warsaw Stock Exchange (WSE). Netia is also the first Polish company to be listed on the Nasdaq, where its stock, under the form of depositary receipts, has been trading at $28-$29 a share since last July. The company will issue almost 5 million shares worth around zl. 542 - zl. 738 million. Half of the shares will be bought by Netia's strategic investor, Swedish public telecoms operator Telia, at $35 per share from Telia's four current financial investors including Dankner Investment. Telia will increase its current stake to over 48%. About 1.9 million shares will go to institutional investors, 300,000 shares to individual investors and the remaining shares to company employees at a 30% discount. (Gazeta Wyborcza, page 32) P.S.