Undervalued Wólczanka won't be merged with Vistula, PZU proclaims

"I would like to increase our capital engagement in Wólczanka to 20%, similar to that we have in Vistula," said Wojciech Grzybowski, president of PZU NFI Management. According to Grzybowski, Wólczanka is one of few companies listed on the Warsaw Stock Exchange that is undervalued, with the firm currently having a market assessment of zł.35 million. NFI bought shares in the company for almost zł.15 a piece, while the lowest share price Wólczanka commanded last year was zł.3.45. In 2003, the Łódź-based company recorded a zł.1.5 million profit on revenues of zł.92 million. Vistula, on the other hand, which has an estimated market value of zł.70 million, incurred losses of zł.3 million last year on revenues of zł.111 million. (Puls Biznesu, p. 7) A.K.