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Polmos Lublin gears up for IPO, Takeovers and New Brands

Tomorrow, the board of the Securities and Stock Exchange Commission (KPWiG) will meet and is likely to agree to allow Polmos Lublin to go public.

The firm will be the first publicly listed vodka producer. The issue prospectus was submitted on September 27, but Polmos is coy about making any details public.

"The company is going to issue new shares, but the current shareholders will also sell part of their stakes," said Wieslaw Skrobowski, Polmos Lublin president.

The capital raised will be devoted to the distiller's development.

"We are going to invest in our existing brands as well as to launch new ones. For this reason we need to increase our capacity. We also want to become an active player in consolidating the market. We are planning to take part, among others, in the privatization of Polmos Bialystok," explained Skrobowski.

He added that since the company's privatization in 2001 production and sales have risen 300%.

(WBJ 29.xi.04)

 
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