Minister announces key IPO's for chemical sector

The Treasury Minister Aleksander Grad announced that on Monday, May 26 nitrogen plant ZA Tarnów will present its issue prospectus and that this will be one of two large IPO to be carried out in the coming months. "At the end of the year the issue prospectus of nitrogen plant ZA Kędzierzyn should be submitted to the Financial Supervision Commission (KNF). The debut of the firm should take place in early 2009, most likely in February," said the Minister.

Ludwik Sobolewski, president of the Warsaw Stock Exchange (WSE), added that the bourse is meant for companies which require large amounts of proceeds for investments, while heavy chemical companies are perceived as an attractive investment due security of investments.

"I observe enormous interest in shares of chemical companies from sector investors, also from those abroad," said Grad.

He is sure that there will be no problem with debuts of the both companies and he announced that the second phase of the privatization is planned for 2009 when the state will sell all of its shares to sector investors. (Puls Biznesu, pp. 1, 4-5) M.M.