Ivax to benefit from changes to WSE regulations

Ivax, the American pharmaceutical concern, will be the company to benefit from changes to requirements for foreign companies entering the Warsaw Stock Exchange. At the beginning of August, the Securities and Stock Exchange Commission (KPWiG) will amend its regulations concerning foreign companies debuting on the bourse, as now these concerns have to submit three annual financial statements, while the demanding American market only requires two. This creates additional technical problems for foreign companies and increases their costs. Ivax's prospectus is now ready and the only problem was the differences in the requirements between the Polish and American bourse. The company wants to issue new shares in Poland that would be transferred to Polfa Kutno's shareholders, but Ivax will wait until the end of the summer to issue their call to buy shares. The price will not change, it is still zł.340 per share. (Puls Biznesu, p. 6) D.W.