Polish steel constructor Vistal plans to list on Warsaw bourse
WARSAW Dec 9 (Reuters) - Polish steel constructor Vistal launched what it hopes will be a 76-million zloty ($25 million) initial public offering (IPO) on Monday, joining a queue of possible new listings on the Warsaw bourse.
The Polish construction sector has suffered a wave of bankruptcies and losses, partly the result of a price war for EU-funded infrastructure projects. Vistal itself saw it net profit margin dwindle to below 0.5 percent last year on revenue of 230 million zlotys.
Investors are betting that the sector will rebound along with the accelerating Polish economy.
The Vistal offer will land after the keenly-awaited market debut on Wednesday of Poland's No.4 energy producer Energa, following its 2.4-billion zloty IPO, Warsaw's largest in more than two years. ($1 = 3.0570 Polish zlotys) (Reporting by Adrian Krajewski; Editing by Christian Lowe)