WARSAW, April 5 The initial public offering
(IPO) of Poland's top coal trader Weglokoks may take place in
early 2013 rather than late 2012, as market conditions may be
more favourable then, a Polish minister was quoted as saying on
"We want the company to be ready for privatisation in late
autumn this year, but maybe spring next year will be a better
date," Deputy Economy Minister Tomasz Tomczykiewicz told the
Dziennik Gazeta Prawna newspaper.
Fully state-owned Weglokoks said at the end of March its
IPO, assuming the sale of 20-40 percent of the group's shares,
could be worth around 500 million zlotys ($158 million).
In the past two decades, Poland has struggled to make its
ailing coal industry profitable. An increase in global coal
prices in the last two years has helped to make some of the
sector's restructured businesses more attractive to investors.
If listed, Weglokoks would join coking coal producer
Jastrzebska Spolka Weglowa and miner Bogdanka
on the Warsaw stock exchange.
Poland last week approved an ambitious 15 billion zloty
privatisation programme, assuming the sale of 300
state-controlled companies by the end of 2013, with the largest
transactions expected to be conducted via the Warsaw bourse.
Privatisations via the stock exchange this year include the
sale of possibly 100 percent of real estate holding PHN and a
stake in power firm ZE PAK. The IPO of PHN is expected in the
first half of 2012, with ZE PAK's at the turn of September and
The country's sales plans also cover its largest coal
companies, Kompania Weglowa and Katowicki Holding Weglowy, but
these are not expected to take place any earlier than in 2013.
($1 = 3.1680 Polish zlotys)
(Reporting by Maciej Onoszko; Editing by Mark Potter)