PZU posts record profit ahead of June public offer

This is a record high result and a boost from zł.1.51 billion recorded in the previous year. The good news will rise investors' hopes who are waiting for PZU's public offer which is due to take place in June 2005. The State Treasury has already selected four consortia as potential advisers in the privatization process. These include Credit Suisse First Boston and BZ WBK Brokerage House, CA IB Financial Advisers with CA IB Securities and Bank BPH Brokerage House, HSBC Investment Services (Poland) and Bankowy Dom Maklerski PKO BP, as well as Citigroup Global Markets Polska and the brokerage house of Bank Handlowy. The winner of the tender is to be announced by the end of January. (Puls Biznesu, December 24-26, p.3) A.K.