PZU privatization prospectus promised by mid-August

State-owned PZU, the country's largest insurance company, is accelerating the pace of its privatization. Plans have now been drawn up for issuing to the Securities and Stock Exchange Commission (KPWiG) by mid-August a prospectus for PZU's stock market debut. Although neither PZU representatives nor its shareholders have confirmed any of the details of the company's launch on the Warsaw Stock Exchange (WSE), Puls Biznesu is reporting that the public offering is expected to take place before the September parliamentary elections. Adam Taukert, adviser to the PZU president, says that currently, intensive efforts are being made to put PZU on public offer as soon as possible, while Treasury Minister Aldona Kamela-Sowinska promised several weeks ago that the issue plan would be ready by September, which would give PZU a chance to make its stock exchange debut before the end of the year. According to Marcin Wroblewski, a market analyst with brokers DM WBK, PZU's debut on the stock exchange is bound to be well received by pension funds and institutional investors. (Puls Biznesu, p. 6) M.T.K.