Second time lucky for Puławy's IPO?

Following the company's failure to be floated back in 2001, this time Puławy representatives plan to sell 5.515 million new B series shares. Yesterday, the company published its issue prospectus. The offer was divided into two tranches, one for individual investors (1.65 million shares) and the other aimed at institutional investors (3.86 million shares). The subscription is to commence on August 29 and last until September 9. The Treasury Ministry, which owns the company is postponing the floatation on purpose in order to avoid the simultaneous listing of several companies. "Investors are very skeptical about companies which have previously failed to have a successful IPO. However, this issue will greatly depend on the size of success of the IPO of the Police Chemical Plant which will taker place earlier," said Mirosław Saj, an analyst with bank BISE. (Puls Biznesu, p. 10) A.K.