Polmos Białystok makes a disappointing debut on the WSE

One of the reasons for the relatively poor performance is the fact that institutional investors demand for the shares had already been fully satisfied in the IPO. Meanwhile, some of the smaller investors were selling their Polmos Białsytok shares during the first session in order to obtain cash for the zł.1.1 billion IPO of Poland's second largest oil firm Grupa Lotos, with subscriptions starting Monday. However, those who keep their Polmos Białystok shares for longer could cash in, as the price is expected to rise once a strategic investor for the company is chosen. The Treasury Ministry is expecting that investor to pay as much as zł.100 per share. (Parkiet, p. 2, Puls Biznesu, p. 4) T.J.