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National airline LOT Polish Airlines is currently selecting the supplier of its mid-range planes and preparing for its IPO in early 2006.

"By the end of the year we want to prepare all necessary internal documents, which are needed for the floatation," said the carrier's president, Marek Grabarek. The final date of the IPO depends on the JP Morgan investment bank, which is helping the firm enter the bourse. "LOT's results are closely linked with the wider economic situation. If it improves, the condition of the enterprise should pick up as well. Introducing the company to the floor in a few months, if the bullish market persists on the bourse, is a good idea," said Adam Ruciński, investment advisor of TFI PZU.

(WBJ 19.ix.05)

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