Markets optimistic about today's start of Arena.pl IPO
Subscription to the initial public offering of the Arena.pl portal begins
today, with the share price bracket set at zl.4.2 to zl.5. This values the
company significantly higher than the two portals already listed on the
Warsaw Stock Exchange, Interia and Hoga. However, analysts are optimistic
about Arena's chances. They predict that its revenue flow will be larger and
more stable than that of the other portals. Arena's main advantage is judged
to be that, more than being just a portal, it is also the joint owner, with
the Tel-Energo telecom company, of an Internet service provider,
E-Connections. "Other media portals do not have that possibility, so
comparing Arena to Interia or Hoga, which depend on advertising and
e-commerce, is not justified," said Arena president Rafal Plutecki. Arena
plans to show a net profit by the year 2005. (Puls Biznesu, p. 10) T.J.
