Ivax's shares debuting on WSE reach world high

At the beginning of trade, the firm was quoted at zł.50.5, but this rose to as high as zł.65, which means that the shares cost about USD 21, or 40% more than its shares quoted on the American and British markets. The reason for such a high price may be the result of low supply of the shares in Warsaw with simultaneous high demand. Yesterday, the spread between the best purchase and selling offers amounted to even 30%. At the close of trade on Friday, Ivax's standing in Warsaw was zł.55 (USD 17.5), while at the same time it was USD 15.5 on the New York Stock Exchange. According to analysts, it is rather improbable that foreign Ivax investors would want to make use of this difference and to sell their shares in Warsaw. (Parkiet, p. 5) A.F.