Privatization funds
NIF index hits five-year high
NIF index, which tracks performance of the mostly forgotten 14 privatization funds that went public in 1997 rose almost 5 percent to a five-year high of 85.64 points yesterday as investors tried to cash in on buybacks and asset sales. Virtually no equity analysts follow the funds, which have extensive cross-holdings and own small stakes in hundreds of former state-owned companies across Poland. The funds, which traditionally trade at a significant discount because of poor asset quality are now distributing their substantial cash holdings buying back massive amounts of own stock on the WSE.
Privatization
JSW mine holding may be sold through
the stock exchange...