November was a very good month for the main market of the Warsaw Stock Exchange (WSE). The total of 15 companies had their IPOs in the markets run by the WSE – 9 in the main market and 6 in the NewConnect market.
IPOs of Companies
The November IPOs included two foreign companies Ronson Europe (the Netherlands) and Kernel Holding (a Ukrainian company registered in Luxembourg). At the end of November 345 companies including 21 foreign ones were listed at the WSE. Out of 345 73 companies including 10 foreign ones had their IPOs at the WSE in 2007.
On 5th November Ronson Europe had its IPO at the WSE. Ronson Europe is a developer executing through its subsidiaries (Special Purpose Vehicles - SPVs) housing projects. The Company has been constantly increasing its geographical coverage based on the held titles to acquired lands.
On 7th November the ?apy-based Rolling Stock Repair Workshops were listed for the first time at the WSE. The Repair Workshops is the 10th company that in 2007 migrated from MTS-CeTO over-the-counter market to the exchange market. The core activities of the Company include repair, reconstruction and upgrading of freight cars owned by PKP Cargo, repair and building of cars of private carriers and sale of heat energy and technical gases.
On 8th November company Introl was listed for the first time. The core activity of the Capital Group of the company is the provision of services involving the installation of control, measuring and automation equipment, electric systems, pipelines, boiler systems, maintenance systems and environmental protection systems as well as manufacturing and sale of temperature measuring devices including in particular all kinds of industrial temperature sensors.
On 14th November a company called Complex had its IPO at the WSE. The Company manufactures and distributes machinery spare parts including but not limited to: roller bearings, slide bearings, bearing assemblies, other components of bearing engineering, repair kits for wheels, bearing liners, retaining rings, V-belts, technical seals and bolted joints.
On 19th November the company called Asseco Business Solutions belonging to Asseco Capital Group had its IPO at the WSE. Asseco Business Solutions is a company active in the IT area, providing IT solutions for corporate bodies, regardless of their size, sector and specific nature of their business. Asseco Business Solutions offer includes provision, adaptation and customisation of own business applications for corporate bodies.
On 20th November the company called Prima Moda had its IPO at the WSE. The core activities of the Company include retail sale of footwear and leather ware. The Company activities include distribution of footwear imported mainly from Italy in own footwear stores located throughout Poland. The Company is active in the Polish market in the medium and upper footwear market segments.
On 23rd November company Kernel Holding had its IPO – it is the second Ukrainian company at the WSE . The Kernel Group runs integrated activities in the sector of bottled edible oil and agribusiness that covers all manufacturing phases – starting from cultivation of agricultural crops ending up with delivery of finished goods to the consumer. The Group is in the possession and manages the oil seed processing plants that are used for oil seed processing, then refining and bottling.
On 28th November company called Wielton had its IPO at the WSE. Wielton is the largest Polish producer of articulated trailers and trailers. The Company products are applied primarily in international haulage of palletised goods, haulage of aggregate, stone, coal, scrap metal, agricultural produce and in container transport.
On 30th November the company called City Interactive had its IPO at the WSE. The Company operates in computer game producer and seller market both in domestic and foreign markets. The core business activity of the issuer is to develop and provide a wide product range of computer games.
WSE Members
On 5th November a remote member of the WSE NeoNet Securities AB domiciled in Stockholm launched its operations at the WSE comprising the trade in all securities on own and third party account.
On 6th November DekaBank Deutsche Girozentrale domiciled in Frankfurt was admitted to WSE trade as an Exchange member.
On 20th November X-Trade Brokers brokerage house, an Exchange Member, launched its operations at the WSE involving trade in derivatives on its own account. On 26th November X-Trade Brokers started acting as a market maker for futures for EUR and USD exchange rates.
AT present the Exchange Members include 43 entities, of which 17 companies are remote members based in Hungary, Czech Republic, Austria, the United Kingdom, France, Germany, Sweden and Estonia.
Other events
In November another meeting was held from a series IPO Day – Day of Novices, organized by the Association of Individual Investors jointly with the Warsaw Stock Exchange (WSE) and The National Depository for Securities S.A. (KDPW)
At the meeting held on 14th November the offers were presented by the following companies: Alumast, Sonel and Pro-Bud.
On 29th November the following companies made their presentations: Europejski Fundusz Hipoteczny (European Mortgage Fund), Plast-Box and InternetGroup.
In November subsequent meetings with WSE-listed foreign companies were held at the Foreign Company Information Forum. On 6th November the Forum hosted a Czech company called Pegas Nonwovens, on 9th November a German company called bmp AG, and on 14th November a Ukrainian company called Astarta Kiev.
Foreign Company Information Forum is addressed at foreign companies listed at Warsaw Stock Exchange, investors and journalists. The objective of meetings is to provide information about foreign businesses to Polish retail and institutional investors and also to stimulate the trade in stock of such businesses at the WSE.
On 12th November in the Quotation Room of the Warsaw Stock Exchange a conference was held entitled „Financial Policy of the Capital City of Warsaw”, attended, inter alia, by Hanna Gronkiewicz-Waltz, the Mayor of Warsaw and Miros?aw Czekaj, the Treasurer of Warsaw. The conference was hosted by Ludwik Sobolewski, CEO of the WSE. The CEO of the WSE emphasized in his speech that a strategic objective of the WSE was to build in Warsaw a financial centre for the Central and Eastern Europe. Hanna Gronkiewicz-Waltz, the Mayor of Warsaw said that WSE objectives are a part of the development strategy of Warsaw whose one of the pillars will be investment-oriented budget policy.
Between 22-23 November CEE Derivatives Forum was held. It was attended by Polish and foreign guests representing derivative markets. The main idea of CEE Derivatives Forum is to exchange information and experience in relation to the derivative markets in Central European countries.
CEE Derivatives Forum is an open initiative that may be attended by everybody interested: retail and institutional investors, representatives of brokerage houses and banks, exchange market institutions, representatives of scientific community, mass media etc.
Since 26th November X-Trade Brokers, acting as an official WSE partner in derivative market, commenced to play a role of market maker for EUR and USD futures – currency pairs with PLN. The Exchange does not rule out an option of launching new categories of currency futures including but not limited to GBP/PLN and CHF/PLN.
In November 2007 for the first time since March 2005, the traded volume of currency futures exceeded 1000 contracts per month.
Statistical Highlights
|
Percentage
changes in exchange indices in November |
From
the beginning of the year |
|
|
WIG20 |
-8.6% |
7.9% |
|
MWIG40 |
-12.1% |
9.7% |
|
SWIG80 |
-12.8% |
26.2% |
|
WIG |
-10.2% |
12.4% |
|
TECHWIG |
-8.4% |
-12.3% |
|
WIG-PL |
-10.4% |
11.6% |
In the population of all companies listed in the main market 41 recorded a positive rate of return.
|
Highest
stock price growth rates in November |
|||
|
Company
|
Price
as of 31.10.07 |
Price
as of 30.11.07 |
Change
% |
|
EUROFAKTR |
5,37 |
9,05 |
68,5 |
|
SIMPLE |
10,00 |
11,50 |
15,0 |
|
WAWEL |
242,00 |
278,00 |
14,9 |
The exchange traded volume in the spot market amounted to PLN 36,295 M in value terms and was by 6% lower than that in October. In the futures market the traded volume amounted to PLN 70,245 M in value terms and was by 2% lower than in the previous month.
|
Trade
in instruments (PLN M) |
|
|
Stock** |
35
763 |
|
Bonds** |
160 |
|
MiniWIG20 |
2,4 |
|
Futures
|
|
|
Value* |
70
201 |
|
Volume
(pcs.) |
993
798 |
|
Options |
|
|
Value* |
42,2 |
|
Volume
(pcs.) |
31
884 |
*calculated taking into consideration the value of contracts / options
**excl. bundle transactions
More statistics in Monthly Newsletter
In November another 6 companies had their IPOs. By the end of month 19 companies were listed with the total traded volume above PLN 206 M.
IPOs
On 5th November a real estate agency called Pó?noc Nieruchomo?ci had its IPO in the NewConnect Market. The company is the first real estate agency listed in the NC market. The Company focuses its activities on the intermediary services in the trade of real estate in secondary market, whereas its main operational area is in the Cracow region.
On 6th November a company called Security System Integration had its IPO in NewConnect market. The Company runs its business in the fields of production and integration of systems in the segments of Electronic Security Systems and IT.
On 15th November a company called TELESTRADA had its IPO in NewConnect market. The Company is a virtual operator of a telecommunications fixed line network – does not possess its own infrastructure and operates using the networks of other telecom operators.
On 16th November a company called Technopark2 had its IPO in the NewConnect market. Two major areas of Company activities include redeveloping activities and lease of office space. The first activity involves making economic use of the already existing real estate. The Company buys real estate, changes the concept of their economic use and sells to another investor. At present the Company operations are focused on the Pozna? market.
On 20th November a company called LUG had its IPO in the NewConnect market. LUG is a producer of industrial and decorative lighting fittings. Company products are used both for indoor and outdoor lighting of buildings. The Company is one of major domestic producers of lighting fittings used to illuminate buildings and edifices.
On 30th November a company called LIBERTY GROUP had its IPO in the NewConnect market.
The Company is a public relations agency focusing on three areas:
- communication and media-oriented activities,
- media advisory services during IPOs,
- crisis management.
Other Events
In November, on the top of new companies that had their IPOs, another 18 entities were added to the list of Authorised Advisers.
Two more companies acquired a membership status in the NewConnect market. These include:
- Bank Gospodarki Zywnosciowej S.A.
- Bank Polska Kasa Opieki S.A.
On 5th November a new market maker in the NewConnect market launched its activities, viz. Beskidzki Dom Maklerski S.A. brokerage house.
At the end of November in the NewConnect market:
- 22 Market Members (of which 4 play a role of market makers),
- 84 Authorised Advisors,
- 29 information distributors,
- 15 distributors of companies’ reports were operational.
Effective from 12th November the NCIndex has been published continuously from the start to the end of quotations – with 5 minute intervals.
More information about the NewConnect Market can be found on a Web site: NewConnect
