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EconMin reiterates plans to float coal firms KHW, JSW on Warsaw bourse in 2011

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Date: 2010-09-09 11:15

The initial public offerings of Katowicki Holding Weglowy (KHW), one of the country's three biggest hard coal mining firms, and Jastrzebska Spolka Weglowa (JSW), Europe's biggest producer of coking coal, is possible next year, deputy PM and economy minister Waldemar Pawlak has said during the Economic Forum in Krynica.


In late August, KHW's CEO Stanislaw Gajos said that the firm planned to debut on the Warsaw Stock Exchange (WSE) in H2/2011. The offer of new-issue shares could be worth of around PLN 1.5bn (EUR 0.4bn), Gajos said. KHW's annual revenue is around PLN 4.0bn (EUR 1.0bn).

In June, JSW's CEO Jaroslaw Zagorowski said that the firm's 2011 IPO would be worth of around PLN 3.5bn (EUR 0.9bn). After JSW posted PLN 340mn loss in 2009, on the back of the steel and coke sectors' crisis, in Jan-Apr, 2010, it swung into net profit of PLN 200mn.

lk/tom