PKN's IPO price set with hefty discounts for early birds

This IPO price concurs with predictions of zl. 20 to zl. 25 made earlier by a number of reputable brokerage firms. Investors will be eligible for a 6% discount during the first period of subscription slated for between Nov. 4 and Nov. 15. Those investors buying shares between Nov. 15 and Nov. 19 will be entitled to a 2% discount. The Ministry expects the sale of PKN shares to be a success, considering the incentives it is offering and the attractiveness of the oil business. Further privatization of PKN will be decided upon based on the response of investors to the IPO. (Prawo i Gospodarka, Oct. 30 - Nov. 1, page 1, Gazeta Wyborcza, page 30, 31).