LC Corp's IPO fails to impress the market

Only for a few minutes did the shares exceeded their initial value of zł.6.5, but after that they declined by almost 7% by the end of trade. There were opinions that shares of the developer were too expensive, but no one expected such a poor debut, especially bearing in mind the reduction in subscription amounting to 98.1%. Apart from that, the company is owned by Leszek Czarnecki who is regarded as the Polish guru of investors. The IPO showed that neither the name of the famous founder of the company, nor operations in the booming reality sector ensure a successful debut unless a company stands on firm grounds and profits are not ascribed on paper alone. Analysts indicate that this might mark a turning point on the primary bourse market, which will affect developer companies first. On the other hand, daily Parkiet suggests that there are plenty of companies which increased the value of their shares in the weeks following their IPO's. Nevertheless, this was the largest IPO to date of a private Polish company with a value exceeding zł.1 billion. (Parkiet, pp. 1, 2-3; Puls Biznesu, p. 6; Rzeczpospolita,  June 30 - July 2, p. B5)