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The best private banks in 2008

The best private banks in 2008

An informative guide for high net-worth individuals on the range of service providers that are available

FX debate

FX debate

Currency markets in a post credit crisis world

Friday, April 11, 2008

Warsaw bourse’s IPO prospectus to be ready on turn of May/June.





Warsaw bourse’s IPO prospectus to be ready on turn of May/June. The Warsaw Stock Exchange’s (WSE) issue prospectus should be ready at the turn of May and June, CEO Ludwik Sobolewski said. He did not determine the term of the prospectus submission with the Financial Supervision Commission (KNF). Sobolewski upheld the plans under which the WSE is to conduct the initial public offering (IPO) in October, and the bourse debut could take place in the middle of that month. In mid-March, Wojciech Stankiewicz, partner at McKinsey & Co, advisor to the treasury ministry in this privatisation process, said that the issue prospectus would be published on Sep 22 and price range for the purpose of book-building would be settled. Book-building is due to be held between Sep 22 and Oct 2. On Oct 2, the issue price will be settled and subscriptions for individual investors, started on Sep 26, will end. In the first phase of the privatisation, the State Treasury plans to trade 47.82% shares in the WSE, out of which 19% will be offered in an open tranche and 28.82% in a tranche directed at domestic financial institutions - brokerage houses, investment and pension funds. ISB


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