Polmos Lublin looks to invest IPO funds in major share of Polmos Białystock

Before this happens, however, the National Deposit of Shares needs to register 1.5 million shares today from the E issue that were sold in the public offer. Altogether 4.37 million shares are allowed to enter circ ulation and the final price amounts to zł.50 a piece. "Previous valuation rested in a range between zł.45 and zł.58 so the company believes the price is attractive and the investors are likely to make quick profit on shares," commented Waldemar Wasiluk, a member of Polmos Lublin's managing board. Shares were also sold to 63 institutional investors. The capital raised has been spent by Polmos Lublin on debtor's bills, bonds of BRE Mortgage Bank and Carrefour Polska bonds. Other investment plans drawn up by Polmos Lublin include the purchase of the major stake in Polmos Białystok, which is on the threshold of privatization. The Lublin company has already submitted a preliminary offer to the Treasury Ministry. (Parkiet p.4) M.G..