Long awaited and delayed sale of WSiP looks like this time it will go ahead

According to sources quoted by Rzeczpospolita, the State Treasury plans to sell up to a 60% stake in education books publisher WSiP to sector investors before the company is floated in Q1 2004. In a few days, an issue prospectus will be sent to the Securities and Stock Exchange Commission (KPWiG), and at the same time investors will be invited to negotiate the purchase of larger stakes of shares. "We can confirm that these indeed are our plans. The reasons for this is that the State Treasury receives a higher price for shares sold in blocks, and it helps ensure a stable future for the company. The main interested investors are pensions funds," said WSiP president Jan Rurański. This means that only a 25% stake might be initially floated, as 15% is to be given to company employees. The share price is still unknown, but during the last tender, offers reached zł. 11.20 per unit. (Rzeczp ospolita, p. B4) M.M.