Grupa Lotos IPO could fuel market enthusiasm for PGNiG flotation

"The chances for the permission are 90%," said an anonymous source in KPWiG. Treasury Minister Jacek Socha confirmed earlier announcements that the group's IPO could possibly take place by the end of May. Lotos representatives are more cautious and say a date closer to June is more probable. However, the sooner the debut of Grupa Lotos, the better the hopes are for a debut by Polish Oil and Gas (PGNiG). "If Lotos was to be floated on the break of May and June then the government could find a spot in June for the offer of PGNiG. A two-three week break between the IPOs would be better received by the market," said Rafał Salwa, an analyst with Internetowy Dom Maklerski. (Puls Biznesu, p. 10) A.K.