SkyEurope completes its international IPO tour on WSE

It currently has airbases in Bratislava, Budapest, Kraków and Warsaw. In 2004 the firm managed to increase the number of its passengers by as much as 471% in comparison to the year 2003. In the same period sales income grew from EUR13.1 million to EUR63 million. Yesterday the company's shares were for the first time traded on the Warsaw Stock Exchange (WSE). "We have chosen WSE because this is one of the best bourses in the region," said Alain Skowronek, president of SkyEurope's supervisory board. At the close of trade the company's share price on the WSE was zł.24, which was 2.13% higher than the reference rating. Turnover came to zł.2.2 million. In Poland 20 million of the company's shares from the IPO were offered to institutional investors only. The value of the offer was EUR78 million, including EUR60 million of new capital. The money will be devoted to strengthening the carrier's position in Central and Eastern Europe, as well as to entering EU candidate countries, such as Bulgaria and Romania. (Parkiet, p. 2) A.F.