Ruch makes backwards moves in bourse launch

It seems like the most difficult part of this plan will be the renegotiation of the agreement with the company's employees who have been guaranteed long-term employment. The case might even be investigated by the Constitutional Tribunal. The new management, headed by Adam Pawlowicz, has also submitted a motion to the Securities and Stock Exchange Commission (KPWiG) to halt the procedure to confirm the company's issue prospectus. Representatives of Ruch said that one of the reasons behind this decision was last year's poor financial results. According to preliminary estimates, Ruch made a zl.10 million loss instead of a planned profit of zl.24 million. Other reasons for the postponement of the IPO which were mentioned by the company's management is a lack of a uniform strategy and a constantly falling market share, which currently is estimated to stand at around 48% of the press distribution market in terms of quantity. (Parkiet, p. 1) A.K.