Polmos Białystok IPO greatly oversubscribed

The company is going to enter the bourse on May 12. The Treasury offered individual investors over 1.44 million shares, that is 12.15% of the firm's capital. Institutional investors bought 2.38 million shares, 20% of the capital. The Treasury Ministry still has at its disposal 10% of the distiller's shares. "This stake is not going to be offered in the tranch for individual investors. Most probably it will be acquired by a strategic investor," said Artur Olender, president of the Penetrator brokerage house, which offers Polmos' shares. The vodka producer, which has a 22% share of the domestic market, announced that its sales revenues in Q1 amounted to zł.264.3 million, which is an increase of 9% in comparison to the analogous period of 2004. The net profit in the same period grew by 28% and reached zł.15.5 million. (Parkiet, May 7-8, p. 4) A.F.