Lotos Group IPO looks "most likely" in September 2005

"The Treasury Minister obliged the Lotos management board to call the general shareholders meeting. It will decide about the transfer of shares in these companies to the Gdańsk-based refinery. The session should be held no later than 14 January 2005," announced Nafta Polska president, Krzysztof Żyndul. He also admitted that Lotos' IPO will take place in the second half of next year, most likely in September. "It all depends on how long it will take to consolidate the refineries with the rest of the group," stressed Żyndul. The company also needs to sort out the issues of financing of the IGCC installation and resolving the situation with Naftoport. (Puls Biznesu, pp. 1, 7) M.M.