Pekaes to fund trucks and rail cargo bid with IPO

Transport concern Pekaes plans to raise zł.100 million from the floor with the IPO scheduled for fall this year. The cash injection will be used to invest in more trucks and fund an attempt to enter the rail cargo sector. At the end of May the largest private French transport company Norbert Dentressangle (ND) placed an offer to purchase Pekaes' stock. But ND Polska director Andrzej Wierzbicki said: "The Treasury Ministry replied that it was not interested in our offer." Andrzej Król from the Ministry explained that the state was not willing to sell its stake. He added that the company would issue new shares and then float them, which would be one way of inviting an investor at a later stage. "We will not try to buy shares by all means. We can develop in other ways in the region," Wierzbicki said. (Puls Biznesu, pp. 1, 5) M.M.