Pekaes hopes to raise zł.100 million from new share issue

"We expect to raise about zł.100 million," said Ryszard Witek, a member of Pekaes management board. The final decision on the capital increase will be made during a shareholders' meeting today. The biggest stockholder is the State Treasury, which owns a 52.52% stake. If the new issue turns out to be a success, Pekaes will most probably spend the capital on investments. This year, the company plans to modernize its fleet and purchase at least 50 trucks. In 2002 Pekaes posted a profit of zł.11 million on revenues on zl.535 million. (Puls Biznesu, p. 11) A.F.