Profits from Dom Development's IPO to aid growth

"The bourse will compare us with Globe Trade Center and Echo. It is hard to estimate whether the company would enter the WIG20 index. Initially it might be difficult, due to lower capitalization than GTC, for instance," said Janusz Zalewski, financial director of Dom Development. Proceeds from the floatation will be designated for purchasing land and increasing the number of development projects, as well as repaying a zl.10 million loan granted by Dom Development BV. So far the company has completed 43 projects, it is currently working on 15 and plans to initiate 33 new projects. In H1 of 2006 the firm sold 946 flats, compared with 712 over the same period in the previous year. "We want to strengthen our position in Warsaw, where we concentrate on construction and sales, while later we will consider expansion to other towns," said Jaroslaw Szanajca, president of Dom Development. (Puls Biznesu, pp.1, 12) M.M.