Zelmer's IPO strikes the right cord among small investors

The confirmation of this news would mean that the Rzeszów based company closed its share issue with the largest subscription reduction in the history of the Polish primary market. It seems that of each 1,000 shares investors wanted to buy they will get only 14. This huge demand from small investors is not a big surprise, since all the existing brokerage houses mediated in the offer. Also, the price of one share for individual investors was only zł.12.9, as compared to zł.13.2 that institutional investors had to pay. According to Flawiusz Pawluk, CA IB analyst, the increase in the standing of the firm during its debut on the Warsaw Stock Exchange on January 27 will not be as high as in the case of, for instance, PKO BP. "I would expect an increase by 5-10%. It is a good result, taking into consideration the current situation," he said. (Parkiet, p. 1; Puls Biznesu, pp. 1, 4-5, 14) A.F.