WSE hopes simplified procedures will help bring in small cap IT firms

The Warsaw Stock Exchange (WSE) is seeking to attract small IT and Internet companies by introducing new regulations and a simplified procedure for conducting initial public offerings (IPOs), says WSE president Wieslaw Rozlucki. Companies will have the opportunity to conduct their IPOs directly on the stock exchange, rather than by having investors subscribe for shares, making the whole process quicker and less costly. "We are at an advanced stage of negotiations regarding this issue with several companies. The first such offering could take place as soon as January 2001," says Rozlucki. WSE will also introduce a new financial instrument, so-called subscription warrants, which could be used by companies to pay underwriters of share issues or as stock options for management. (Puls Biznesu, p.7