Legia IPO delayed

After three quarters of the year, Legia's EBITDA was negative and amounted to zł.1.82 million. "It is hard to estimate when the company will be continuously profitable, but for sure it will not take place before the conclusion of the stadium's expansion planned for 2009," said Wojciech Kostrzewa, president of ITI. Work on the modernization of the stadium will start in June 2007.