Polsat stalls its WSE show

The delay is because the firm needs more time to adjust to International Accounting Standards and EU directives. According to the owner of the private TV channel, Zygmunt Solorz-Żak, 20-25 percent of the company's shares will be traded on the Warsaw Stock Exchange.

The funds from the IPO are to be spent on various projects such as a digital platform, program purchases and the enhancement of the company's liquidity. Solorz-Żak also announced that in order to obtain more funds, Polsat might consider issuing bonds. However, the WSE flotation remains the company's main priority.

According to research company AGB Polska, in 2004 the broadcaster's income from advertisement reached zł.1.48 billion as compared to zł.1.64 billion in 2003 while the second biggest commercial television station, TVN, listed on the WSE since December last year, earned zł.1.4 billion in 2004 and zł.1.5 billion in 2003.

Polsat and TVN operate the leading commercial TV channels. Polsat also operates a digital pay-TV platform and is present in the Baltic states.