PZU to submit amended Prospectus to WSE by Friday

The new, amended IPO Prospectus of insurance giant PZU, will be sent to the Securities and Stock Exchange Commission (KPWiG) by Friday at the latest. At the request of the Commission, around 500 corrections have been made to the Prospectus since August. The take-over of 21% of PZU shares by Eureko will depend on the decision of the Interior Ministry. In turn, the decision on admittance of the company to public trading is in the hands of KPWiG. The indication of KPWiG Chairman, Jacek Socha, that PZU may be admitted to the stock exchange this month, has gained extra momentum since the announcement of the new Treasury Minister, Wieslaw Kaczmarek. The State Treasury is likely to be in favor of PZU's admittance to public trading, since it will be able to maintain a tighter control over the company. However, the final decision on the issue of 29% of PZU shares will depend on Kaczmarek, who officially has until the end of 2002 to make the decision. According to analysts, the Minister may wait for an improved overall situation on world markets or may decide to issue only a part of the 29% package. (Puls Biznesu, p. 7) P.W.