Will PKO BP privatization cause a headache for other IPO's ?

The shadow of the sale of retail banking giant PKO BP looms over other privatization plans, with three other companies waiting for the Treasury to conduct their IPOs possibly before the end of the year. Plans to privatize textbook publisher WSiP, white goods producer Zelmer and the Kozienice power plant depend on whether there will be enough funds left on the market after the multi-billion złoty offer of a 30% stake in PKO BP. "One needs to remember that [on top of the PKO BP offering], the Securities and Exchange Commission (KPWiG) is receiving an increasing number of IPO applications from private firms," fears Deputy Treasury Minister Dariusz Witkowski. However, analysts believe that the Treasury's fears are ungrounded in the long run. "Large IPOs attract foreign institutional investors who often take a broader interest in our market after the deal has been completed," said Piotr Rzeźniczak, portfolio manager at Pioneer Pekao Investments. (Parkiet, p. 7) T.J.