Ruch prepares December 22 bourse debut

The company will issue 15.5 million shares, two-thirds of which will be directed at institutional investors and the rest at individual investors. "Proceeds from the floatation are estimated at a maximum of zl.250 million," said Adam Pawlowicz, president of Ruch. "The funds will co-finance an investment program, the value of which stands at zl.572 million over 2007-2009." The offer has been constructed in such a way to prevent the company's current shareholder, the State Treasury, from receiving any funds from the IPO. Its share in the company also stands to drop to 72.5%. "Next year we may begin looking for an investor interested in taking over a controlling stake," announced Ireneusz Dabrowski, deputy treasury minister. Anti-monopoly measures may also see the firm sold to a foreign competitor or domestic commercial company from outside the sector. (Puls Biznesu, p.1,7) M.M.