Pekaes IPO received with mixed emotion by investors

The prices of shares opened at around zł.10.25, they peaked at zł.10.45 before falling and closing at zł.9.65. Turnover was high and amounted to zł.21.6 million. Over one million of shares (3% of the company's capital) changed hands. Apart from retail investors, who own 4.1 million shares, Pekaes employees were also able to sell the 4.25 million shares they had received. "Many of them became impatient because they had to wait so long for the possibility of exiting the investment, but it was worth," said one employee. Those employees who sold their shares on Friday made a profit of 300%. All stocks from the new issue (12 million) were bought by institutional investors, some 5.7 million shares went to PTE Commercial Union, which is now the second largest Pekao shareholder. (Parkiet, p . 1) A.F.