Privatization plans for white goods giant could face delays

The country's largest white goods producer, Zelmer, is planning to float on the stock exchange at the beginning of December. The Treasury Ministry is using the debut to privatize the company. BAA Polska consortium and BZ WBK brokerage house, which have been advisers to the process since March, recently presented the ministry with pre-privatization analysis. However, according to unofficial sources, while Zelmer's issue prospect is almost ready and it could be submitted to the Securities and Stock Exchange Commission at the beginning of September there are many indications that the sale could be delayed until next year. Either way the value of the issue is estimated at about zł.300 million. (Parkiet, p. 8) A.F.