Full steam ahead for TVN's share issue

Individual investors will be able to subscribe for 2.7 million shares between November 22-29 and institutional investors, for whom 15.3 million shares were allocated, between December 1-3. TVN's representatives hope that the company will soon find its place among the top 20 companies whose fortunes create the WIG20 index. The offer consists only of TVN's old shares (28.4% of its capital) as no new shares were issued. ITI states it wants to present its issue prospectus to the Luxembourg Stock Exchange, but this does not necessarily mean that TVN will be actually present on that bourse. "TVN's shares will only be present on the Polish market," said Małgorzata Czaplicka from TVN's investor relations department. TVN's Q3 2004 income was zł.139 million, a 30% increase compared to Q3 2003, while its net profit increased almost tenfold to reach zł.23 million in Q3 2004. (Parkiet, p. 1) D.W.