Briefs
GTC takes off...
GTC, Central Europe's largest listed property developer took the Warsaw
Stock Market by storm on its market debut, seeing its shares quoted as high
as 98 zlotys which translates into a market value of USD 470 million.
Better known for building the Galeria Mokotow centre in Warsaw, GTC plans to
use the funds raised to double its lettable space in Poland by 2005 to
190,000 sqm. Analysts believe that pension funds wishing for a higher
allocation of the stock were mainly responsible for the 12.6 percent climb
from its IPO price.
...but flies lower
GTC revealed net profits of USD 2.1 mln (operating profits of USD 7.5 mln)
for the first quarter 2004. These figures are lower than for the
corresponding period in 2003 (USD 13.9 mln and USD 10.7 mln respectively).
GTC has blamed the figures on the sale of a 50 pct stake in Galeria Mokotów.
Eur 1.6 mln profit for Stalexport
Steel products distri
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