Expansion is main driving force behind bus firm IPO

Solaris president Krzysztof Olszewski, who owns 18% stake, is negotiating to take over all KB's shares in his firm. Olszewski has not revealed how much his company plans to earn from its initial public offering (IPO), saying it is too early for any forecasts. It is expected that the majority stake will remain in the hands of Olszewski's family. The company is waiting for better economic conditions and a fall of oil prices, which is one of the key factors in the transport sector. The capital raised from IPO should help to increase the company's sales to around 1,000 buses a year in 2008. Olszewski believes that 1,600 buses a year would not be a challenge for Solaris, as the position in the country's market has already been strengthened and Solaris is ready to conquer other markets. (Puls Biznesu, p.4) J.J.