SkyEurope is due for landing on a bourse near you

The company will offer a stake of 10 million new shares, which could be enlarged by a further 2.98 million shares that are in the hands of current shareholders. After the issue the share of stocks in the firm on the open market could amount to 64.9%. In Poland the shares will be offered to institutional investors only, at a price of EUR5-10 each. SkyEurope wants to collect EUR129 million from the issue. The company needs a cash injection for its planned investments. In May the holding signed a contract for the purchase of 16 Boeing 737s worth $880 million. Currently SkyEurope has 15 airplanes and offers flights to 28 cities in 16 countries. The company will close this accounting year, which ends this month, with a loss of EUR26.6 million on revenues of EUR105 million. Last year, revenues amounted to EUR63 million. (Parkiet, p. 7) A.F.