Poczta Polska looks forward to stock exchange debut

The Poczta Polska (PP) state postal network has asked the Infrastructure Ministry to carry out its commercialisation. Tadeusz Bartkowiak, head of PP, explains that it should be transformed into a state-owned company in order to enter the stock exchange market. “From the point of view of its economic condition, the PP is not yet ready to be privatised through the capital market, so the best option would be for the company’s shares to be floated in 2006-2007,” Rzeczpospolita was told by a PP director. Currently, PP is a public enterprise, hindering its development. The post cannot issue bonds secured with its property even though it badly needs funds for investment, the cost of which is estimated at ZL3.5-4bn. Meanwhile, PP calculates the value of its assets at ZL2-3bn. “From our point of view, commercialisation means access to cheaper capital, higher transparency and better management,” claims Dominik Czajewski, strategy director at PP.