In Brief: Piano firm bankrupt; Orbis sale; Chemiskor share issue; PKN shares
The board of Legnica-based musical instruments manufacturer Fabryka
Fortepianow i Pianin has filed for bankruptcy. The decision comes after the
company's main creditor Bank Zachodni turned down a request to repay a zl. 3
million loan in installments. (Puls Biznesu, page 4) ... Treasury Minister
Emil Wasacz has announced that the Treasury's 35% stake in
hotel-and-catering chain Orbis will be sold off to an investor, rumored to
be either Bass of Britain or Accor of France, by the end of July. (Parkiet,
page 2) ... Tannery Chemiskor is to issue between 2 million and 7 million
series-E shares in an effort to keep the company solvent. (Parkiet, page 3)
... Oil producer and distributor Polski Koncern Naftowy (PKN) Orlen says the
price per share for individual investors will likely be set at zl. 18 to
zl.19, which is lower than the price PKN shares are currently listed at on
the Warsaw bourse. (Parkiet, page 1) S.M.
