Pharmaceutical firm sets sights on Warsaw stock listing by autumn

The Securities and Stock Exchange Commission will consider the IPO of American-owned pharmaceutical company Ivax this August, possibly leading to its listing on the Warsaw Stock Exchange (WSE) in September. Ivax owns a 24.99% stake in Polfa Kutno, a domestic pharmaceutical company, and hopes to acquire up to 50% of shares in the company. Later it will replace Polfa's shares with its own and start trading on the WSE. Ivax would like to bring about a consolidation of Polfa Kutno, Jelfa and its own Polish trading subsidiary in the longer term. (Parkiet, p.4) J.J.