Treasury to pocket proceeds from Zelmer's IPO

The issue prospect was sent to the Securities and Stock Exchange Commission (KPWiG) at the beginning of September. For the time being, however, Zelmer will not receive any additional financial aid from the stock investors. The Treasury Minister decided that 85% of A series stock which belong to the Treasury will go public. New shareholders will decide on an additional issue which would increase the company's equity. Meanwhile, the concern is doing pretty well. Even though prices of materials on the world markets are constantly rising, Libold projects that Zelmer's net profit should amount to zł.14 million at the end of Q3. He also sustains the company's projections for the financial result for the entire year, which according to him should be zł.16.8 million. After the third quarter sales on the domestic market grew by 17% in comparison to analogous period of 2003, while exports increased by 5%. (Puls Biznesu, p. 6) A.F.