In Brief: Gdynia Shipyard 2003 loss; Ceramika Nowa Gala a hit; BWE loss

On Friday the shareholders of Gdynia Shipyard are to meet and accept the financial results of the company for 2003. According to initial estimates the net loss was to amount to zł.72.3 million, however, following an in-depth audit the loss will stand at zł.206 million. (Puls Biznesu, p. 6) ... Although the public offering of shares in Ceramika Nowa Gala will be officially closed today, it was revealed that demand was well above expectations - 33 times higher than shares available - and reached zł.1 billion. (Puls Biznesu, p. 9) ... The management of Bank Współpracy Europejskiej (BWE), which is controlled by Bartimpex, is to decide next week upon a share issue worth between zł.20-40 million with the aim of raising capital to cover its 2002 losses which exceed zł.33 million. Neither the shareholder nor company representatives wanted to reveal whether a loan of zł.40 million which was planned to be granted to BWE by Bartimpex was ever transferred. (Puls Biznesu, p. 7) A.K.