2012 market indicators – main list · 2012 market indicators – main list domestic companies:...

20132012 Data

WARSAW

STOCK

EXCHANGE

2012 Market Indicators – Main List

Domestic companies: market capitalisation (at year-end) PLN 523.4 billion

Foreign companies: market capitalisation (at year-end) PLN 210.7 billion

Turnover value (cash market) PLN 209.0 billion

Turnover value (futures market) PLN 232.7 billion

Turnover value per session (all financial instruments) PLN 1 709.2 million

Number of transactions per session (all financial instruments) 59 500

Number of newly listed companies in 2012 19

Number of all listed companies (at year-end) 438

incl. foreign companies 43

WIG20 index change in 2012 20.45 %

mWIG40 index change in 2012 17.42 %

sWIG80 index change in 2012 22.92 %

WIG-Plus index change in 2012 7.56 %

WIG index change in 2012 26.24 %

P/E ratio (at year-end) 12.4

P/BV ratio (at year-end) 0.95

Number of sessions in 2012 249

FactBook 20132012 Data

Fact Book 20132012 Data

Official publication of the Warsaw Stock Exchange © Copyright by Warsaw Stock Exchange, March 2013

Książęca 4, 00-498 Warsaw, Poland Internet: www.wse.com.pl E-mail: [email protected]

Cover design by: Art Group Sp. z o.o. Typesetting: Baddog

ISSN 1428-1171

Every effort has been made to ensure that the details contained in this publication are accurate. However, the Warsaw Stock Exchange assumes no responsibility for any errors or omissions.

This publication is for information purposes only and is not intended as an offer or a solicitation with respect to any product described herein.

The Warsaw Stock Exchange Fact Book 2013 contains information about the organisation and operation of the Exchange, key events and statistical data for the year 2012, data sets for previous years as well as informa-tion about listed instruments and WSE members. The first section brings information on the regulated WSE market whereas subsequent sections are devoted to the NewConnect market and Catalyst, the WSE’s market for debt instruments.

This annual Fact Book will be a useful reference for both individual and institutional investors, journalists, those working for financial institutions, as well as students and anyone interested in the capital market in Poland. The Fact Book has been prepared according to the same blueprint for many years, helping users to find and compare the required information.

As a periodical publication, the Fact Book is designed to help Readers track changes on the Polish capital market and gain a better insight into the role of the Warsaw Stock Exchange in Poland’s economy.

The Warsaw Stock Exchange

ContentsThe Polish Capital Market ...................................................................................................... 7The Warsaw Stock Exchange ............................................................................................... 9The International Status of the WSE .................................................................................. 15Important Events in 2013 .................................................................................................... 17

WSE MAIN MARKET ............................................................................................................ 192012 on the WSE Main Market ...................................................................................... 21Companies ..................................................................................................................... 23Foreign companies in 2012 ........................................................................................... 78Structured Products ....................................................................................................... 84Investment Certificates .................................................................................................. 86ETFs ................................................................................................................................ 87Option Warrants ............................................................................................................. 88Short Selling .................................................................................................................. 89WSE Indices ................................................................................................................... 90Investors ....................................................................................................................... 137WSE Listing Process – Regulated Market ................................................................... 140WSE Partner Programmes ........................................................................................... 149WSE Members ............................................................................................................. 154Organisation of Trading ............................................................................................... 162Electronic Distribution of Market Data ........................................................................ 176Listed Companies ........................................................................................................ 179

The Derivatives Market .............................................................................................. 189Important events on the derivatives market in 2012 .................................................. 191Futures ......................................................................................................................... 192WIG20 options ............................................................................................................. 198MiniWIG20 – index participation units ....................................................................... 200

NewConnect ...................................................................................................................... 203Information about NewConnect .................................................................................. 2052012 on NewConnect .................................................................................................. 207Companies ................................................................................................................... 208Investors ....................................................................................................................... 258NewConnect Indices .................................................................................................... 259Trading Rules ............................................................................................................... 271NewConnect Members ................................................................................................ 276Market Animator/Market Maker .................................................................................. 278Authorised Advisers on NewConnect ........................................................................ 279Mandatory Disclosures ................................................................................................ 282Distribution of NewConnect data ................................................................................ 282Listed Companies ........................................................................................................ 285

Catalyst .............................................................................................................................. 295Information about CATALYST ..................................................................................... 2972012 on Catalyst .......................................................................................................... 298Instruments listed on Catalyst ..................................................................................... 299Catalyst Trading Rules ................................................................................................. 342Listing on Catalyst ....................................................................................................... 348Catalyst participants .................................................................................................... 349Authorised Advisers on Catalyst ................................................................................. 354The Catalyst Strategic Partner Programme ................................................................ 354Mandatory disclosures for Catalyst issuers ................................................................ 355Distribution of Catalyst information ............................................................................ 355List of Catalyst Issuers ................................................................................................. 356

WSE Energy Market ........................................................................................................... 358WSE Energy Market in 2012 ........................................................................................ 359Market Participants ...................................................................................................... 360

The History of the Warsaw Stock Exchange 1991-2012 .................................................. 361Exchange Holidays in 2013 ............................................................................................... 368Adresses ............................................................................................................................ 369

Warsaw Stock Exchange

The main institutions of the Polish capital market are: the Warsaw Stock Exchange (WSE), which organises the trading in finan-cial instruments, the National Depository for Securities (NDS), which handles the clearing and settlement of transactions, processes corporate actions and provides safekeeping of financial instruments, and, thirdly, broker-age houses, which serve as intermediaries in transactions. Supervision over the market is effected by the Polish Financial Supervision Authority (PFSA).

The National Depository for Securities (NDS) was established in 1991 as an integral part of the Warsaw Stock Exchange. On 7 Novem-ber 1994 the Depository became an inde-pendent institution operating as a joint stock company. As a central institution, the NDS is responsible for the management and super-vision of the depository and clearing system in relation to operations in financial instru-ments in Poland, based on the best global practices, including the principle of full dema-terialisation of securities. The NDS also pro-vides a number of services for issuers, i.e. in-termediary services in dividend payments to shareholders, share assimilation, exchange, conversion and splits as well as execution of pre-emptive rights.

Another important role of the National De-pository for Securities is to establish op-erational links in order to clear transactions relating to foreign companies listed on the WSE under a dual listing arrangement. The NDS maintains 19 operational links with for-eign depository institutions. Through those links, foreign companies from the following countries can be listed on the WSE: Austria, Bulgaria, Canada, Czech Republic, Estonia, France, Germany, Hungary, Italy, Lithuania, Latvia, Romania, Slovakia, Sweden, United Kingdom and the USA.

In July 2011, the National Depository for Se-

curities delegated some responsibilities to KDPW_CCP. Those responsibilities were re-lated to settlement of transactions concluded on the regulated market and in the Alternative Trading System as well as settlement liquidity guarantees. The NDS retained responsibili-ties related to clearing of transactions and a central depository of securities. By introduc-ing this change the NDS complied with inter-national standards and significantly improved competitiveness of the Polish capital market.

KDPW_CCP runs transaction settlements us-ing mechanisms that allow the systemic re-duction of the risk of parties’ default under transactions.

The clearing house engages into guarantee-ing and settling transactions on the cash mar-ket and derivatives market on the regulated market and under the Alternative Trading System (ATS) as well as transactions made outside the organised trading system (OTC transactions). Transactions accepted for set-tlement at KDPW_CCP undergo novation, which means that KDPW_CCP becomes the buyer for each seller, and a seller for each buyer under a transaction (central counter-party).

The regulated OTC market, mostly han-dling wholesale transactions, is organised by BondSpot, which engages in wholesale trading in treasury bonds and bills within Treasury BondSpot Poland, and in trading in municipal, corporate and mortgage bonds within the regulated OTC market and ATS, both of which are part of Catalyst.

The capital market is supervised by the Polish Financial Supervision Authority (PFSA). This supervision covers, among others, the War-saw Stock Exchange, the National Depository for Securities, investment companies, insur-ance companies, investment funds, brokers, investment advisors and issuers of WSE-

The Polish Capital Market

7

Fact Book 2013

listed financial instruments. This supervision over the capital market is intended to ensure universal access to reliable information on the securities market and observance of fair trading and competition rules by entities op-erating in that market. The PFSA works with government agencies, the National Bank of Poland as well as capital market institutions and participants. The PFSA’s responsibilities also include the drafting of legal acts con-cerning the capital market and disseminating knowledge about that market.

Legal regulationsThe capital market in Poland is regulated, in particular, by the following legal acts: Act on Public Offering, Conditions Gov-

erning the Introduction of Financial In-struments to Organised Trading, and on Public Companies;

Act on Trading in Financial Instruments; Act on Capital Market Supervision as well as secondary legislation related to those acts.

Each of these acts addresses one of the main three aspects of capital market op-erations: the primary market, secondary trading and market supervision. Statutory regulations conform with the standards of the Single European Financial Market, as de-fined in directives and regulations issued by the European Parliament, the Council and the European Commission.

Participants of the capital market

POLISH FINANCIAL SUPERVISION AUTHORITY

Structure of the Polish capital market

National Depositoryfor SecuritiesKDPW_CCP

IndividualInvestors

Brokerage Houses

BondSpot SA

ClearingBank

(NBP)

IssuersInstitutional

Investors

WarsawStock

Exchange

8


The Warsaw Stock Exchange began its op-erations in 1991. The responsibility of the Warsaw Stock Exchange (WSE) is to organ-ise public trading in financial instruments, to promote such trading and to disseminate market information. The Exchange also or-ganises an alternative trading system out-side the regulated market.

The WSE is among the fastest growing ex-changes among European regulated mar-kets and alternative markets regulated by stock exchanges, and also the largest stock exchange in Central and Eastern Europe.

The legal foundations of WSE operations: Polish Code of Commercial Companies

and Partnerships, Act on Trading in Financial Instruments, Act on Public Offering, Conditions

Governing the Introduction of Financial Instruments to Organised Trading, and on Public Companies,

WSE Articles of Association, WSE Rules.

WSE as a public companyIn 1991 the WSE began its operations as a treasury-owned joint stock company. In 2010 the Treasury effected a public offering of WSE shares which attracted immense in-terest among investors: more than 320,000 individual investors subscribed to its shares and there was also a very significant over-subscription rate among institutional inves-tors. The Treasury sold a total of 26,786,530 shares in the public offering, out of which 8,035,959 shares were taken up by indi-vidual investors at the unit price of PLN 43 whereas 18,750,571 were taken up by insti-tutional investors at the unit price of PLN 46.Starting from 9 November 2010 the WSE has been listed in the WSE Main List. The aim of the Warsaw Stock Exchange as a public company is to continue efforts aimed at raising its international profile by

expanding the range of products offered to investors and issuers, by seeking new companies and intermediaries, by improv-ing the organisation, technologies and legal framework of the capital market. The WSE pursues a growth strategy aimed at enhanc-ing the appeal and competitiveness of the Polish market on the international arena and to enhance its position as a regional finan-cial hub.

On 5 December 2011 the Management Board of the WSE adopted a decision to is-sue bonds on the public market. The WSE issued 1.7 million bearer bonds, A series, with a total nominal value of PLN 170 mil-lion, targeted at qualified investors. The WSE also issued 750,000 bearer bonds, B series, with a total nominal value of PLN 75 million, targeted at individual investors. Both series are listed on Catalyst, the WSE’s market of debt instruments. The WSE used the funds raised through its bond issue to finance the takeover of TGE (Polish Power Exchange).

The Warsaw Stock Exchange

9

Fact Book 2013

As of 31 December 2012, the WSE Group comprised the Warsaw Stock Exchange (a Polish joint stock company) as the parent

company, and four subsidiaries. Moreover, the WSE held stakes in two affiliates.

The control over TGE and its subsidiaries was assumed in February 2012 as a result of the purchase of stakes in the share capital of TGE in two tranches, respectively 80.33%

and 7.67%. During subsequent months the WSE gradually increased its engagement in TGE, reaching 100% in December 2012.

KDPW SA(33,33%)

BondSpot SA(92,47%)

AFFILIATESSUBSIDIARIES

KDPW_CCP SA(100%)

WSEInfoEngine SA(100%)

Centrum Giełdowe SA(24,79%)

Instytut Rynku Kapitałowego WSE Research SA

(100%)

THE WARSAW STOCK EXCHANGE

Towarowa Giełda Energii SA(100%)

IRGiT SA (100%)

Info GT Sp. z o.o. (under liquidation)

(100%)

The WSE Group

10


Governing Bodies of the WSEGeneral Meeting of Shareholders

The General Meeting of Shareholders is the highest governing body of the Warsaw Stock Exchange. All shareholders have the right to participate in the General Meet-ing which is empowered, among others, to amend the WSE Articles of Association and elect members of the WSE Supervisory Board.

Supervisory Board

The Supervisory Board oversees the op-eration of the Warsaw Stock Exchange and consists of 5 to 7 members. The Superviso-ry Board holds its meetings at least once in three months. Its members are elected for a joint term office which lasts 3 years.

WSE Supervisory Board (as at end of 2012)

Leszek PAWŁOWICZ – ChairmanMarek WIERZBOWSKI – Vice-ChairmanPaweł GRANIEWSKI – delegated by the Supervisory Board to act temporarily as a Member of the Management Board of the WSESławomir KRUPAJacek LEWANDOWSKISebastian SKUZAMarek SŁOMSKI

Management Board

The Management Board coordinates day-to-day operations of the Warsaw Stock Exchange, admits securities to trading and defines related procedures, admits WSE members to stock exchange activities and supervises the trading activities of brokers and brokerage houses. The Management Board consists of 3 to 5 members and is headed by the President.

WSE Management Board (as at 31 December 2012)

Adam MACIEJEWSKI – Vice-President, acting President of the Management BoardLidia ADAMSKA – MemberBeata JAROSZ – MemberLudwik SOBOLEWSKI – President, suspend-ed in his duties under a decision of the Su-pervisory Board.

11

Fact Book 2013

Participation in international organisationsThe Warsaw Stock Exchange is a member of international professional organisations. Since October 1994, the WSE has been a full member of the World Federation of Exchanges (WFE), an organisation which brings together all major exchanges world-wide. Within this organisation the WSE co-operates with exchanges from other coun-tries in the implementation and unification of standards. As the first exchange from Central and Eastern Europe, the WSE was granted Designated Offshore Securities Market status by the United States Secu-rities and Exchange Commission in May 1997. This status confirmed the position of the WSE as a well-regulated capital market which meets standards recognised in the USA. Since 1992 the WSE has been work-ing jointly with the Federation of European Securities Exchanges (FESE). In 1999, it be-came an associate member of the Federa-tion, gaining full membership in June 2004.

WSE marketsAt the end of 2012, the Warsaw Stock Ex-change conducted trading in financial in-struments on the following markets:

The Main List has been in operation since 16 April 1991 when the WSE began its operations for the first time. This is a regulated market, supervised by the Pol-ish Financial Supervision Authority. The following securities and financial instru-ments are traded here: equities, bonds, pre-emptive rights, rights to shares, in-vestment certificates, structured instru-ments, ETFs, stock warrants and deriva-tives, i.e. futures contracts, options and index participation units.

NewConnect is a market organised and maintained by the WSE as an alterna-tive trading system. It was designed for start-ups and developing companies. NewConnect was launched on 30 August 2007. Instruments which may be traded under this alternative trading system in-clude equities, rights to shares, pre-emp-tive rights, depositary receipts, as well as other equity-based instruments.

Catalyst is a debt instruments market for municipal, corporate, co-operative, treasury and mortgage bonds. Founded on 30 September 2009, it consists of two trading platforms organised by the WSE as a regulated market and as an alterna-tive trading system (ATS) and two analo-gous markets operated by BondSpot.

Poee WSE Energy Market was launched on 11 December 2010. Poee is a trans-action platform for energy deals and energy-related futures for all catego-ries of players on the energy market. On 1 April 2013 the WSE will discontinue the organisation of commodities trading. According to the strategy pursued by the WSE Group, the commodities trading, i.e. energy trading, will be concentrated at TGE, a WSE Group company.

12


Regulatory and supervisory powers of the WSEUnder the Act on Trading in Financial Instru-ments, the WSE defines, in its Rules, areas such as the criteria and condition for admission to trading on its markets, the rules of trading in financial instruments as well as issuers’ dis-closures on the market which is not the official quotations market. The WSE Rules also define the eligibility criteria for WSE membership. The specific rules of trading, the order placement and transaction regime are defined in the De-tailed Rules Exchange Trading Rules. Those documents are available from www.gpw.pl.

The Warsaw Stock Exchange supervises the performance of obligations by issuers and WSE members, as defined in the WSE Rules. Failure to adhere to those obligations may be subject to a penalty defined in the Rules.

As the organiser of the Alternative Trading Sys-tem, the WSE defines the rules of operation under the ATS in the Rules of the Alternative Trading System. Those Rules apply to the trad-ing in equities on NewConnect and to trading in debt instruments on Catalyst.

The legal regulations of the WSE are constantly reviewed from the perspective of trading prac-tices, improvement of standards, security of trading and suggestions put forward by market participants.

Stock market informationDissemination of market information is among the key responsibilities of the Warsaw Stock Exchange. Stock market information is dis-tributed mainly through electronic channels. Information is made available through com-mercial and public services. Distributors that have signed a relevant agreement with the WSE are provided with market information on a commercial basis, receiving data in real time via satellite. Distributors then forward the data to other groups of recipients such as individual investors or financial institutions.

Apart from paid-for commercial services, avail-able through data vendors, brokerage houses, internet portals or mobile operators, investors can also access the WSE’s market information free of charge: via websites of particular mar-kets, specialised content sites or Teletext from public television (TVP). However, the coverage offered by public sources is limited and provid-ed with some delay. The WSE also publishes Ceduła, an official daily electronic bulletin fea-turing quotations and market indicators.

More information on data distribution from WSE-operated markets can be found on pages 174, 279 and 351.

WSE markets (as at end of 2012)

NEW CONNECT(Alternative Trading System)

CATALYSTWSE and BondSpot

Market of Debt Instruments(Regulated + Alternative Trading System)

WSE Energy MarketMAIN LIST(Regulated)


MAIN PARALLEL

13

Fact Book 2013

Promotion and marketingAlongside its organisational and supervisory functions, as well as work on systematic mar-ket development, the responsibilities of the WSE include promotion and education. The WSE engages in such activities through a va-riety of channels, targeting key stakeholders, both domestic and international, such as in-vestors, potential and listed issuers as well as intermediaries.

The WSE engages in marketing and promo-tional activities in Poland and in other countries. Some of those efforts are direct, involving cli-ents and market participants, while others are indirect and are conducted through a network of business partners and contributors.

Each year numerous conferences, seminars and training sessions are held at the WSE headquarters. Targeted at investors, potential issuers, financial intermediaries. the media etc., those events are designed to present the WSE products, attract new issuers and investors, im-prove the standards of information exchange between issuers and investors, and enhance the corporate governance and corporate social responsibility standards in listed companies.

Key events promoting the WSE and the Polish capital market in 2012

21 March – Representatives of the Polish busi-ness community met with the Ukrainian Prime Minister Mykola Azarov in the headquarters of the Warsaw Stock Exchange. The visit of the Ukrainian Prime Minister provided an opportu-nity to discuss the economic relations between the two countries, collaboration between Pol-ish and Ukrainian business and growth op-portunities offered by the WSE for Ukrainian enterprises. 30–31 May – Warsaw hosted the second edi-tion of the ‘CEE IPO Summit’. The guests of the summit, i.e. potential issuers and global inves-tors, took part in panel discussions focusing on Europe’s economic dilemmas, investments in Central and Eastern Europe, and the position of the Warsaw bourse on the map of European capital markets.

31 August – On the 5th anniversary of the NewConnect, Warsaw hosted the NewConnect Convention/Catalyst Bond Congress, a meeting of communities associated with the two mar-kets, organised in a different city each year (so far in Łódź, Poznań, Wrocław and Gdańsk). The Congress comprised a conference and a fair.

September – The Treasury Ministry launched the second edition of its educational campaign entitled ‘Shareholder Democracy. Informed In-vestments’ (PL title: Akcjonariat Obywatelski. Inwestuj świadomie). The campaign is targeted at individual investors. Participants are invited to take part in free workshops facilitated by pro-fessionals throughout Poland and make use of online knowledge resources at www.Akcjonar-iatObywatelski.pl. The WSE is a partner of the campaign.

4 October – The WSE and UniCredit CAIB Po-land, in collaboration with the Treasury Ministry, the Polish Embassy in Rome and the Promos Chamber of Commerce in Milan, organised a conference entitled ‘Poland – a World of New Financial Opportunities at Your Fingertips.’ The conference, held in Milan, aimed to give Italian investors a picture of the potential of the Polish capital market as well as opportunities arising from the privatisation plan developed by the Polish government for 2012–2013.

11 October – The Capital Market Day was held under the auspices of the Warsaw Stock Ex-change. This initiative aims to provide individ-ual investors with an opportunity to liaise face-to-face with companies and give companies a platform to present their business.

6 December – The WSE headquarters hosted the 5th edition of ‘Warsaw Economic Hub’ (pre-viously: ‘Warsaw – CEE Financial Hub’). This international conference was co-organised by the WSE, International Herald Tribune and The Warsaw Voice. The topics included the poten-tial of Poland’s economy and of Warsaw as the regional business hub. Investors and entre-preneurs from Europe and the world received up-to-date information on Poland’s regional, European and global role and on its modern, growing economy.

14


The Warsaw Stock Exchange is the largest ex-change of financial instruments in Central and Eastern Europe, and one of the most dynami-cally growing European markets. By undertak-ing intensive efforts to enhance international growth, the WSE has steadily reinforced its position not just in its region but on the entire continent as well. The international status of the WSE is reflected in foreign companies list-ed on its markets, high engagement of foreign investors, participation of remote members and foreign business partners.

A comparison with other European exchanges in 2012 indicates that the WSE has increased its advantage over other exchanges of the re-gion. In terms of the number of IPO in 2012, the WSE came first again, not only in the re-

gion but also in Europe. The WSE earned this position thanks to its 105 IPO on both equities markets. In terms of the value of IPO (EUR 739 million), the WSE took the 5th position in Eu-rope. For a number of years now, the WSE has maintained the best position in the region, also in terms of the number of traded instruments, turnover and capitalisation of listed companies.

Issuers listed on WSE markets represent 51% of companies from the region’s exchanges. Their share in equities trading in Central and Eastern Europe has gone up to 54.2%.

The International Status of the WSE

Liczba debiutów na giełdach europejskich w roku 2012 (rynek podstawowy + ASO)

0

50

100

150

200

250

WSE LSEGroup

OMX

WSELSE Group

OMXEuronext

Luxembourg SEDeutsche Boerse

Oslo BorsBME

SIX SwissWiener Boerse

Irish SE

EuronextDeutsche Börse

Oslo Børs

Luxembourg SE

BME (Spanish

Exchanges)

SIX Swiss

80

25 19 17 7 5 4 4

105

Number of IPOs on European markets in 2012 (regulated and alternative markets)

Source: IPO Watch Europe Report, 1-4, 2012.

15

Fact Book 2013

Foreign companies The WSE’s strategy to attract companies from the region has systematically borne fruit. Throughout 2012 a total of 6 new companies from outside Poland arrived on the Warsaw trading floor (4 on the Main List and 2 on NewConnect). At the end of 2012 a total of 51 foreign companies were listed on both equities markets (43 on the Main List and 8 on NewConnect), with a to-tal capitalisation of nearly PLN 211 billion. Among them, the largest number came from Ukraine and the Czech Republic.

Derivatives marketThe WSE is the only stock exchange in Central and Eastern Europe to attract inves-tors with a well-developed market of deriv-atives and structured products. In 2012 the WSE again was among European leaders with regard to derivatives. As in previous years, index-based futures attracted most interest. As in the preceding three years, WSE came 4th in Europe in 2012 in terms trading volume for this type of futures.

Foreign investors

As in 2011, foreign investors strongly dom-inated the Main List in 2012, accounting for 48% of trading on that market.

Among foreign brokers, the largest group in H1 and H2 came from the United King-dom, followed by French institutions.

Wolumen obrotu kontraktami terminowymi na indeksy w 2012r.

0

50

100

400

WSEEUREX EuronextLiffe

NASDAQ OMX Nordic

BME (Spanish

Exchanges)

Borsa Italiana

Oslo Børs

Athens Exchange

383.6

84.2

32.6

9.0 7.2 5.9 5.0 2.2

Index-based futures trading volume in 2012 (in million)

Source: IPO Watch Europe Report, 1-4, 2012.

16


A high number of IPOs 2012 brought a record number of IPOs to the WSE again. 105 new issuers on its two equities markets assured European leader-ship for the WSE in terms of IPOs and a fifth position in terms of the value of IPOs. 40% of all European IPOs in 2012 took place on the Warsaw trading floor.

89 out of 105 IPOs took place on NewCon-nect, the most dynamically growing alterna-tive market in Europe. At the end of 2012, a total of 429 companies were listed there.

Catalyst, the WSE debt market, also devel-oped robustly during 2012. The number of issuers leapt to 156, and the value of issues grew by 30.9%, reaching a record mark of PLN 52.3 billion.

Expanded range of WSE’s products and servicesThe Warsaw Stock Exchange gives inves-tors an opportunity to trade in a broad ar-ray of financial instruments which are also traded on global markets. Investors may choose from global indices, precious metals and agricultural produce.

In September, 237 structured products were added to the range, among them: turbo cer-tificates, trackers, WIG20 warrants and, as a new arrival on the WSE, factor certificates which enable commodities investments with a fixed leverage (gold, silver, oil, sugar, wheat and corn), as well as stock exchange indices (EURO, STOXX50, WIG20 and DAX).

In April 2012 an opportunity to place cross orders was offered. Cross orders supple-ment the entire range of orders and are likely to drive the trading volume on the WSE. Cross orders are intended for WSE members, enabling transactions between different customers of a particular WSE

member or between a WSE member and its customer. Those orders are a format falling between orders underlying the session trad-ing and orders underlying block trades.

New indicesIn 2012, two new indices were added to the list of WSE ratios.

Starting from May 2012, the WSE has been calculating WIG-CEE, which was introduced in response to the growing number of issu-ers from Central and Eastern Europe, and as an element of the WSE’s strategy to re-inforce its position in the region. After WIG-Poland and WIG-Ukraine, WIG-CEE is the third index based on the criterion of the is-suer’s country of origin.

On 3 December 2012 the WSE launched WIG20TR. The composition of this index corresponds with the WIG20 portfolio but, unlike WIG20, which is a price index, WIG20TR is calculated on the basis of yield from shares (dividends and pre-emptive rights). For this reason, it is WIG20TR that should be viewed as the main point of ref-erence to assess investments in the largest listed companies.

Takeover of the Polish Power Exchange (TGE)In February 2012 the WSE acquired shares in TGE in two tranches, 80.33% and 7.67% respectively, thus gaining control over TGE and its subsidiaries. Following subsequent transactions, the WSE’s stake in TGE stood at 100% as of 31 December 2012.The takeover of TGE by the WSE was an important step for the development and consolidation of trading in commodities and commodity-based financial instruments.

Important Events in 2013

17

Fact Book 2013

Work on the new transactionsystem2012 saw intensive work on the new transac-tion system, planned for launch on 15 April 2013. The Universal Trading Platform (UTP) raises the technology at the WSE to another level. In comparison with the previous War-set system, UTP is much faster, more effi-cient and has a much higher capacity which, in practice, enables the processing of a much greater number of orders (20,000 orders per second, vs. slightly over 300 under Warset).

With the arrival of UTP, the Polish stock mar-ket will operate under a system which meets world-class standards, guaranteeing the or-ganisation of trading in line with the ever in-creasing expectations of market participants, and with global trends. By joining the New York, Paris, Lisbon or Amsterdam exchang-es, all of which use the UTP, the Warsaw Stock Exchange enters the network of global stock markets operating with state-of-the-art solutions.

18

WSE MAIN MARKET

WSE Main List

After 2011, which was fairly unsuccessful for stock exchange investors, 2012 saw all the main WSE indices and most sectoral indices go up. However, the rising indices did not entail an increase in trading in financial instruments.

The value of WIG, an index of the Main List, increased by 26.2% throughout the year. As regards price indices, the greatest leap was recorded for sWIG80, the index of small companies (an increase by 22.9%), as well as for WIG20 (up by 20.4%) and mWIG40 (up by 17.4%). The index of the smallest compa-nies, WIG-Plus, rose by 7.6%.

Computed since May 2012, WIG CEE, the index of Central European companies listed on the WSE, dropped by 8%. During the same period WIG Poland, the index of Pol-ish companies, leapt by 28.2% whereas the index of Ukrainian companies lost 8.5%.

Return rates on WSE indices in 2012

WIG20 20.4%

mWIG40 17.4%

sWIG80 22.9%

WIG-Plus 7.6%

WIG 26.2%

WIG-CEE -8.0%

WIG-Poland 28.2%

WIG-Ukraine -8.5%

Among sectoral indices, WIG-Basic Materi-als achieved the highest rate of return, ris-ing by 78.9% throughout the year. It was followed by WIG-Chemicals (+57.9%), WIG-Oil&Gas (+39.1%), WIG-Banks (+22.6%), WIG-Developers (+9.6%) WIG-Media (+7.8%), WIG-Food (+5.3%) and WIG-IT (+3.7%). However, the values of indices representing the construction industry, tele-coms and energy recorded losses, declining by, respectively, 30.9%, 21.2% and 2.7%.

Return rates for sectoral subindices in 2012 (%)

WIG-BANKS 22.64%

WIG-CONSTRUCTION -30.86%

WIG-CHEMICALS 57.89%

WIG-DEVELOPERS 9.55%

WIG-ENERGY -2.66%

WIG-IT 3.67%

WIG-MEDIA 7.81%

WIG-OIL&GAS 39.08%

WIG-FOOD 5.31%

WIG-BASIC MATERIALS 78.94%

WIG-TELECOM -21.16%

The market value of companies listed at the end of 2012 totalled PLN 734. billion, out of which the value of domestic companies represented PLN 532 billion. PKO BP was the largest domestic company at the end of 2012, with a capitalisation of PLN 46.2 bil-lion. Throughout the year, the Warsaw floor welcomed 19 newcomers whereas 7 com-panies were delisted. Among IPOs taking place in 2012, the largest was that of ALIOR Bank. As then current shareholders sold their shares, PLN 2 billion worth of securities were brought into trading.

The value of equities trading on the Main List reached PLN 202.9 billion, out of which PLN 87.6 billion were order-book trades. In com-parison with 2011, the value of equities trad-ing was 24% lower whereas the volume of equities trading rose vis-à-vis 2011, reaching 33.7 billion shares, up by 7% versus one year earlier. The average transaction value for the year was PLN 16.2 thousand (18.0 thousand for 2011). As in preceding years, investors were most readily engaged in trading in blue chips (the share of WIG20 constituents repre-sented 79.7%).

2012 on the WSE Main Market

21

Fact Book 2013

The stock market situation in 2012 can be subdivided into two periods. Between the year beginning and end of May, the value of WIG, the main WSE index, rose from 38 thou-sand to 42 thousand points, then dropping to 37 thousand. Between the start of June and the end of the year, WIG systematically went through subsequent peaks, closing the year at nearly 48 thousand points (slightly lower than at the start of 2011). Overall, WIG gained 27.3% between the end of May and end of December. However, this increase in WIG value was not matched by an increase in equities trading. Investors viewed this trend as transient, which is why the balance of eq-uities trading in H2 was slightly lower than in the first six months of 2012.

Foreign investors maintained their leading position in equities trading (with a share of approx. 48%), and they were followed by domestic financial institutions (34%) and in-dividual investors (18%, i.e. the same as in 2011). UK brokers prevail among foreign in-

vestors whereas investment funds and pen-sion funds are the domestic leaders. At the end of the year, the number of investment accounts reached 1.5 million.

In 2012 the WSE reinforced its status as the regional leader in terms of the number of IPOs, the number of listed companies, the market value of companies and the value of equities trading, Throughout the year, the value of equities trading effected in Warsaw represented a half of the figure for the entire Central Europe, i.e. the markets in Bratisla-va, Budapest, Bucharest, Sophia, Ljubljana, Prague and Vienna.

The WIG index in 2012

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r50 000

45 000

40 000

35 000

30 000

36 653.285 Jun

47 920.7519 Dec

22

WSE Main List

Market segments

Shares of all listed companies on the regu-lated market are classified into one of the following 4 segments: MINUS 5, 5 PLUS, 50 PLUS or 250 PLUS. Companies are classified into MINUS 5, 5 PLUS, 50 PLUS or 250 PLUS according to their capitalisation. Capitalisation is calculated as the arithmetic mean of a com-pany’s capitalization for the last three months: The MINUS 5 segment includes shares of

companies with capitalisation up to EUR 5 million;

The 5 PLUS segment includes shares of companies with capitalisation of EUR 5 to 50 million;

The 50 PLUS segment includes shares of companies with capitalisation of EUR 50 to 250 million;

The 250 PLUS segment includes shares of companies with capitalisation over EUR 250 million.

Moreover, shares of companies which have high price volatility or which are under bankruptcy proceedings may be moved to the ALERT LIST and then moved to listing under the single-price auction system.Shares of companies classified as MINUS 5 and ALERT LIST are not taken into consid-eration as index constituents.

Liquidity Support ProgrammeIn order to support liquidity on the eq-uity market, the Warsaw Stock Exchange launched its Liquidity Support Programme. The Programme was designed for compa-nies which, according to the WSE’s crite-ria, experience low liquidity in the trading of their shares. Given the purposes to be pursued within the Liquidity Support Pro-gramme, such as improved liquidity of stock trading and improved communication with investors, the Programme is recommended for all listed companies.

Within the Liquidity Support Programme, listed companies are obligated to: enter into a contract with an Issuer’s Mar-

ket Maker under the general terms and conditions defined in the WSE Rules,

run an investor relations section on their own website: the scope of information to be published as well as the manner of presentation is specified by the WSE,

actively use the Investor Relations section at www.wseinfospace.eu.

Lower Liquidity ZoneIf the average value of transactions involv-ing shares of a particular company is lower than PLN 25,000 per session in the last quar-ter of the year, and if the average number of transactions is lower than 10 per session and the company chooses not to join the Li-quidity Support Programme, it will be classi-fied by the WSE to the Lower Liquidity Zone.

Shares of companies which have been clas-sified to the Lower Liquidity Zone are: removed from the WSE index portfolio, moved to the single-price auction system, specially marked in the WSE’s press

releases and in the WSE newsletter (Ceduła).

Corporate governanceThe first ever document specifying corpo-rate governance rules for listed companies was adopted by the WSE in 2002. Amended rules were laid down in ‘Best Practices in Public Companies 2005’. Starting from 2008, a new corporate governance document, en-titled ‘Best Practices for WSE Listed Compa-nies’, came into force. In 2010 the document was adapted to incorporate the most recent changes in the law, current international trends in corporate governance and expecta-tions of market participants. In 2011 the WSE introduced more changes to promote inno-

Companies

23

Fact Book 2013

vative solutions aimed to improve the quality of governance in companies whereas in 2012 changes were made regarding the organisa-tion of electronic General meetings by listed companies.

The document begins with a Preamble and its content is subdivided into four sections:I. Recommendations concerning best prac-

tices in listed companies,II. Best practices applied by management

boards of listed companies,III. Best practices applied by members of su-

pervisory boards,IV. Best practices applied by shareholders.

The aim behind the ‘Best Practices’ is to enhance transparency of listed companies, improve the quality of communication be-tween companies and investors, strengthen the protection of shareholders’ rights (also in matters not regulated by law), while avoid-ing burdens for listed companies that would not be offset by market benefits. For this rea-son, ‘Best Practices’ cover exclusively those areas where application of such practices is likely to improve the market valuation of companies and, consequently, reduce the cost of raising capital. The WSE liaises with listed companies in matters related to inter-pretation of corporate governance rules and monitors issuers’ compliance with manda-tory disclosures described in ‘Best Practices for WSE Listed Companies’.

The Warsaw Stock Exchange has developed a dedicated corporate governance website (www.corp-gov.gpw.pl) with a mission to promote corporate governance rules, es-tablish an active forum for exchanging opin-ions and enhance communication with listed companies. The website presents informa-tion on implementation of corporate govern-ance in companies, and updates of corporate governance events initiated by the WSE and its EduPartners.

New companiesIn 2012 the WSE Main List was among the most active IPO platforms among Europe’s regulated markets. The IPO of ALOR Bank, worth EUR 511 million, was the highlight of the year, marking the largest private place-ment in the history of the Polish stock ex-change. It was also the 5th largest European IPO in Q4 of 2012, and the largest initial offer-ing among banks.

Two of the new entrants on the Main List suc-cessfully fulfilled their growth plans, making a transition from NewConnect to the main trading floor.

PLEASE NOTE: All names of companies from tables included in the Fact Book 2013 are given as at 31 December 2012 – cf. Table ‘Change of company names’, page 26.

Newly listed companies in 2012No. Company

Issueprice

First quotation* Price of shares / rights to shares

(PDA) at year-end

Price change in relation to

dateprice of shares / rights to shares

(PDA)issue price first quotation

(PLN) (PLN) (PLN) (%) (%)

1 GETINOBLE 1.33 20.01 1.56 1.79 34.59 14.74

2 BOWIM 8.50 25.01 10.50 4.23 -50.24 -59.71

3 NOKAUT 12.00 14.03 12.64 6.59 -45.08 -47.86

4 VANTAGE 4.72 26.03 1.81 1.31 -72.25 -27.62

5 KRKA 202.10 11.04 210.00 220.00 8.86 4.76

6 SOLAR 13.00 19.04 13.84 5.60 -56.92 -59.54

7 MOBRUK 99.00 25.04 99.00 50.00 -49.49 -49.49

8 WORKSERV 6.00 26.04 7.90 5.65 -5.83 -28.48

9 MEXPOLSKA 10.00 25.05 10.05 2.35 -76.50 -76.62

24

WSE Main List

No. Company Issueprice

First quotation* Price of shares / rights to shares

(PDA) at year-end

Price change in relation to

dateprice of shares / rights to shares

(PDA)issue price first quotation

(PLN) (PLN) (PLN) (%) (%)

10 ATMSI 2.65 28.05 2.17 1.23 -53.58 -43.32

11 PCCEXOL 1.29 3.08 1.40 4.00 210.08 185.71

12 KDMSHIPNG 32.40 9.08 33.00 25.10 -22.53 -23.94

13 TATRY 178.40 15.10 179.00 183.00 2.58 2.23

14 VOXEL 15.56 23.10 15.05 18.10 16.32 20.27

15 EXILLON 7.36 29.10 7.40 7.94 7.88 7.30

16 ZEPAK 26.20 30.10 25.90 28.45 8.59 9.85

17 ALIOR 57.00 14.12 60.90 62.65 9.91 2.87

18 INTERAOLT 24.17 18.12 25.75 26.64 10.22 3.46

19 CZTOREBKA-PDA 7.00 28.12 11.64 11.64 66.29 0.00

* Reference price on the IPO date or issuing price.

Delistings in 2012

No. CompanySuspension

date (dd.mm.yy)

Last quotation date

(dd.mm.yy) Reason for delisting

1 ELSTAROIL 8.12.11 9.03.12 annulment of dematerialisation

2 GETINOBLE1 1.06.12 15.06.12 merger with GET BANK S.A.

3 SWIECIE 15.05.12 6.08.12 annulment of dematerialisation

4 NEWWORLDN 4.10.12 18.10.12 reorganisation of issuer’s group (change of headquarters)

5 TUEUROPA 20.07.12 22.10.12 annulment of dematerialisation

6 JAGO 24.10.12 bankruptcy by liquidation

7 CENTKLIMA 1.10.12 29.11.12 annulment of dematerialisation

Changes in nominal value in 2012

No. CompanyQuotation date before change

(dd.mm)

Quotation date after change

(dd.mm)

Ratio

splits

1 LIBRA 13.03 14.03 1:10

2 PLASTBOX 17.05 18.05 1:5

consolidations

1 HERKULES 18.09 19.09 1:5

25

Fact Book 2013

Change of company names in 2012

No. Old name Old ticker New name New ticker Change date (dd.mm)

1 CERSANIT CST ROVESE RSE 18.01

2 EUROFAKTR EFR GREMISLTN GRS 28.02

3 HERMAN HER IFCAPITAL IFC 19.03

4 IZNS IZN KANIA KAN 27.03

5 CENTROZAP CZP IDEON IDE 23.05

6 PRONOX PRO REGNON REG 30.05

7 WARFAMA WFM URSUS URS 8.06

8 GETBANK GTB GETINOBLE GNB 18.06

9 TRION TIN KBDOM KBD 19.06

10 CPENERGIA CPE DUON DUO 2.07

11 HARDEX HDX LIBRA LBC 4.09

11 ANTI ANT GREENECO GET 25.09

Equity trading value in 2012 (PLN million)

Continuous trading

Single-price system Block trades Other* Total

January 17 756.6 2.1 473.2 33.2 18 265.0

February 17 941.9 3.4 3 310.3 49.2 21 305.0

March 19 166.4 6.5 586.8 0.2 19 760.0

April 12 486.9 1.8 244.7 1 001.6 13 735.0

May 14 231.7 1.9 608.3 1 603.4 16 445.0

June 15 410.9 1.3 291.7 55.8 15 760.0

July 15 686.0 2.0 3 476.5 372.4 19 537.0

August 14 371.9 2.3 3 198.9 1 723.6 19 297.0

September 15 032.3 2.9 673.4 0.8 15 709.0

October 15 996.1 3.1 367.0 688.3 17 054.0

November 14 891.7 2.2 468.8 123.9 15 487.0

December 14 443.1 3.2 1 298.7 129.2 15 874.0

Total 187 415.5 32.6 14 998.1 5 781.60 208 228.0

* Purchases of large blocks and public sell offers.

26

WSE Main List

No. Company Ticker Order-book trades Block trades

Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of

transactions per session

Average number of orders per

session

Turnover value

Number of transactions

(PLN million) (%) (%) shares (PLN million)

1 KGHM KGH 33 379.1 17.81 119.66 944 802 3 874 21 907 590.8 120

2 PKOBP PKO 20 534.4 10.95 84.73 2 409 576 2 580 18 224 3 400.0 188

3 PZU PZU 18 208.5 9.71 66.56 211 778 1 661 12 759 1 649.9 133

4 PEKAO PEO 15 691.2 8.37 40.32 418 032 1 501 10 942 254.1 96

5 PKNORLEN PKN 11 266.6 6.01 68.20 1 148 671 1 580 11 929 213.4 95

6 TPSA TPS 11 166.0 5.96 56.71 2 946 340 1 239 7 262 384.9 130

7 PGE PGE 10 257.2 5.47 40.09 2 178 676 1 629 9 475 3 964.6 138

8 PGNIG PGN 4 978.5 2.66 20.97 4 903 944 970 4 037 62.0 39

9 JSW JSW 3 235.3 1.73 35.42 138 368 1 020 6 732 64.4 54

10 TAURONPE TPE 3 198.9 1.71 42.14 2 667 725 960 4 551 26.2 37

11 BORYSZEW BRS 2 754.5 1.47 200.36 16 530 044 803 4 767 315.5 131

12 EUROCASH EUR 2 042.5 1.09 50.82 213 850 229 712 630.4 104

13 SYNTHOS SNS 2 036.1 1.09 28.48 1 436 050 759 2 712 117.9 21

14 LOTOS LTS 2 013.2 1.07 54.56 282 163 810 4 506 18.0 18

15 BRE BRE 1 885.8 1.01 15.48 25 798 401 2 122 27.1 20

16 POLIMEXMS PXM 1 871.1 1.00 422.22 8 786 535 953 3 475 11.2 9

17 KERNEL KER 1 715.7 0.92 33.44 103 740 455 2 592 48.4 33

18 BOGDANKA LWB 1 704.0 0.91 40.74 55 354 408 2 124 6.4 16

19 GTC GTC 1 649.0 0.88 89.42 907 154 674 3 566 13.0 21

20 TVN TVN 1 625.3 0.87 117.68 738 498 761 4 380 86.2 47

21 PETROLINV OIL 1 592.5 0.85 503.94 3 388 160 1 420 6 586 36.9 11

22 ASSECOPOL ACP 1 589.9 0.85 44.75 136 876 530 2 781 28.6 32

23 MIDAS MDS 1 281.7 0.68 151.01 6 555 194 668 2 898 1.6 5

24 PBG PBG 1 270.6 0.68 803.13 340 294 1 101 5 231 0.5 3

25 HAWE HWE 1 242.6 0.66 282.75 1 153 811 803 2 760 74.2 23

26 HANDLOWY BHW 1 146.4 0.61 10.95 57 167 417 2 391 5.3 11

27 NETIA NET 987.5 0.53 45.44 693 196 177 604 18.5 25

28 CYFRPLSAT CPS 856.6 0.46 37.07 240 413 206 741 40.4 46

29 KOV KOV 791.0 0.42 137.02 2 206 233 577 2 517 1.1 4

30 GETIN GTN 779.3 0.42 43.67 1 261 758 400 1 479 11.9 18

Equities by trading value in 2012

27

Fact Book 2013


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



31 GETINOBLE GNB 746.9 0.40 19.23 1 845 108 235 834 29.1 26

32 MILLENNIUM MIL 737.3 0.39 15.32 744 920 157 734 1.5 11

33 GPW GPW 720.7 0.38 72.52 77 074 294 3 433 17.2 22

34 AZOTYTARNOW ATT 592.4 0.32 36.15 58 982 142 587 27.5 15

35 INGBSK BSK 561.5 0.30 5.24 27 346 78 536 0.8 4

36 ENEA ENA 561.4 0.30 8.79 137 298 202 984 62.2 27

37 IDMSA IDM 546.1 0.29 465.72 3 650 522 430 1 652 101.3 75

38 CDPROJEKT CDR 537.3 0.29 100.70 382 896 442 1 915 1.6 5

39 CIECH CIE 493.7 0.26 49.63 104 444 165 678 2.9 6

40 LPP LPP 474.7 0.25 10.77 623 25 258 1.7 7

41 BIOTON BIO 439.9 0.23 71.73 20 267 861 276 7 610 3.6 10

42 ALCHEMIA ALC 410.7 0.22 68.50 318 373 96 364 312.9 154

43 AMREST EAT 397.5 0.21 29.00 21 477 25 140 66.4 4

44 ATLANTIS ATS 394.4 0.21 440.95 5 092 695 352 1 862 0.1 1

45 CEDC CDC 389.6 0.21 101.49 123 866 355 1 624 6.3 9

46 CEZ CEZ 380.0 0.20 0.54 12 884 26 2 846 0.8 2

47 KREDYTB KRB 317.4 0.17 9.09 98 968 48 229 0.6 2

48 AGORA AGO 309.5 0.17 67.73 122 867 122 578 1.4 5

49 BOMI BMI 289.5 0.15 656.36 1 041 662 349 1 238

50 IFCAPITAL IFC 285.9 0.15 2254.39 1 499 368 438 1 210 1.6 4

51 PULAWY ZAP 285.7 0.15 24.62 10 916 97 395 2.2 4

52 CCC CCC 284.8 0.15 15.69 19 872 25 168 2.0 7

53 SKOTAN SKT 279.0 0.15 153.92 314 990 281 992 13.9 23

54 CCIINT CCI 259.8 0.14 17.00 34 498 11 75 3.4 7

55 ALIOR ALR 250.6 0.13 33.67 512 857 1 197 2 624 750.0 7

56 UNICREDIT UCG 226.2 0.12 0.27 58 916 22 770 0.8 2

57 CORMAY CRM 220.6 0.12 73.16 68 481 185 752 7.5 35

58 EKOEXPORT EEX 217.2 0.12 173.54 54 918 245 1 000 0.4 3

59 BUDIMEX BDX 217.1 0.12 12.59 12 890 90 558 0.2 2

60 EMPERIA EMP 215.7 0.12 27.70 14 742 79 377 31.8 18

Equities by trading value in 2012 (contd.)

28

WSE Main List


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



61 BGZ BGZ 206.1 0.11 45.35 12 180 183 731 10.4 34

62 ROVESE RSE 203.3 0.11 32.30 290 237 126 597 24.8 32

63 ZEPAK ZEP 203.0 0.11 18.91 193 069 348 1 725 54.5 13

64 NEWWORLDR NWR 198.9 0.11 4.50 47 763 10 1 595

65 CALATRAVA CTC 198.8 0.11 202.28 2 028 457 133 878 44.6 75

66 NFIEMF EMF 188.8 0.10 34.74 78 023 33 101 17.2 4

67 DSS DSS 187.0 0.10 476.13 247 198 274 1 020

68 KOPEX KPX 180.8 0.10 12.09 35 713 69 399 1.6 5

69 KREZUS KZS 175.1 0.09 34.04 66 366 187 494 31.2 36

70 ASTARTA AST 174.3 0.09 11.89 11 664 38 186 4.0 14

71 TRAKCJA TRK 166.9 0.09 72.30 673 908 213 753

72 MOL MOL 165.3 0.09 0.63 2 632 4 1 186 9.8 8

73 RAFAKO RFK 163.8 0.09 35.71 75 572 126 589 28.4 13

74 OPENFIN OPF 162.5 0.09 20.50 44 671 22 135

75 HBPOLSKA HBP 156.6 0.08 227.06 1 919 578 220 1 154 0.2 1

76 IMPEXMET IPX 154.3 0.08 20.77 164 241 102 454 2.2 14

77 POLNORD PND 152.4 0.08 56.17 46 656 149 747 21.3 6

78 BANKBPH BPH 141.4 0.08 4.60 14 171 36 330

79 EFH EFH 141.0 0.08 226.87 1 334 810 144 937

80 ORBIS ORB 139.0 0.07 8.26 13 867 27 312 13.9 3

81 ECHO ECH 138.4 0.07 14.33 130 579 32 217 86.1 6

82 INTEGERPL ITG 137.8 0.07 18.40 3 863 32 195 17.1 6

83 SADOVAYA SGR 137.0 0.07 366.33 158 435 190 972 0.1 1

84 PEP PEP 137.0 0.07 83.65 22 044 63 410 0.6 3

85 POLJADLO PLJ 135.2 0.07 706.35 1 210 324 151 641 1.7 8

86 GREENECO GET 132.6 0.07 1528.21 260 351 198 621

87 KRUK KRU 130.8 0.07 16.88 11 357 30 206 1.2 4

88 RESBUD RES 129.3 0.07 959.53 34 080 243 819 0.9 2

89 MCI MCI 127.6 0.07 41.84 104 596 130 651 0.2 1

90 TUEUROPA ERP 126.6 0.07 85.23 3 301 4 38 2.0 6


29

Fact Book 2013


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



91 FON FON 124.6 0.07 210.33 2 839 208 140 1 491

92 RANKPROGR RNK 124.4 0.07 82.67 41 932 142 646 62.8 30

93 GANT GNT 122.6 0.07 132.09 103 411 172 726 2.3 9

94 FAMUR FMF 115.8 0.06 5.82 111 711 38 193 0.7 1

95 INTERCARS CAR 114.0 0.06 10.49 4 961 14 121 21.1 8

96 POLICE PCE 113.7 0.06 14.55 43 834 87 384

97 URSUS URS 111.3 0.06 246.73 202 109 167 693 15.2 4

98 APATOR APT 108.2 0.06 18.21 17 532 35 244 13.7 12

99 DUDA DUD 104.9 0.06 60.51 675 531 133 1 071

100 CITYINTER CIA 103.0 0.05 32.40 16 461 74 449

101 SYGNITY SGN 100.8 0.05 51.54 23 154 82 431 5.7 11

102 COMP CMP 92.0 0.05 24.04 5 715 13 130

103 ORZBIALY OBL 87.9 0.05 23.32 15 550 17 122

104 KETY KTY 87.6 0.05 8.97 2 859 20 168 14.1 6

105 GRAJEWO GRJ 87.1 0.05 15.94 30 908 59 242 2.1 14

106 AMICA AMC 86.0 0.05 33.14 7 729 37 271 0.3 2

107 MNI MNI 83.9 0.04 47.30 166 123 57 429 11.7 13

108 MILKILAND MLK 82.9 0.04 16.16 20 249 34 182 0.1 1

109 BENEFIT BFT 80.6 0.04 23.54 2 039 5 32 8.0 18

110 WAWEL WWL 76.8 0.04 8.40 504 15 148 0.1 1

111 JWCONSTR JWC 76.4 0.04 29.18 62 456 75 394 0.9 2

112 MIRBUD MRB 76.3 0.04 76.66 230 912 118 446

113 COMARCH CMR 73.4 0.04 17.82 4 489 21 181 0.4 1

114 SWIECIE MSC 73.0 0.04 29.26 6 874 20 100 0.3 3

115 ZELMER ZLR 70.4 0.04 13.91 8 450 22 142 0.4 1

116 AGROTON AGT 69.9 0.04 24.92 21 288 60 296 0.6 2

117 BZWBK BZW 69.1 0.04 0.41 1 206 17 205

118 PELION PEL 67.5 0.04 21.53 8 520 14 126 3.3 5

119 KOGENERA KGN 64.8 0.03 5.91 3 326 13 105 2.8 7

120 VISTULA VST 63.7 0.03 56.26 251 709 91 490 2.0 1


30

WSE Main List


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



121 PCGUARD PCG 63.5 0.03 195.33 197 871 116 628 13.2 38

122 IMPEL IPL 61.1 0.03 47.74 9 112 24 142 0.4 2

123 WASKO WAS 59.2 0.03 26.35 96 496 101 579

124 SOBIESKI BVD 58.5 0.03 11.21 1 130 62 665

125 LCCORP LCC 56.3 0.03 10.66 190 034 53 406 0.5 1

126 OVOSTAR OVO 55.9 0.03 10.14 2 443 20 124

127 STALPROD STP 55.6 0.03 7.52 1 048 16 171 6.2 4

128 MENNICA MNC 54.6 0.03 0.97 12 600 27 206 3.5 3

129 COALENERG CLE 54.1 0.03 21.72 9 815 16 77

130 STAPORKOW ZUK 53.5 0.03 47.38 7 907 36 145 2.9 13

131 SECOGROUP SWG 53.3 0.03 16.31 6 799 4 44 0.4 2

132 BARLINEK BRK 53.3 0.03 26.76 191 197 83 449 0.1 1

133 ALTERCO ALT 53.1 0.03 841.76 73 942 126 488 1.1 6

134 08OCTAVA 08N 52.0 0.03 113.10 172 193 52 221 124.6 11

135 FORTUNA FEG 51.3 0.03 6.57 13 195 11 347 1.8 4

136 IGROUP IGR 51.1 0.03 346.52 558 122 90 452 1.9 14

137 NEUCA NEU 50.5 0.03 14.02 2 381 15 104 2.2 3

138 MONNARI MON 50.3 0.03 178.07 174 720 101 489

139 KRKA KRK 49.8 0.03 0.71 1 403 0 3

140 LENTEX LTX 49.7 0.03 16.93 40 857 37 141 2.0 6

141 ZPUE PUE 49.5 0.03 50.38 1 124 10 107 40.3 6

142 STALEXP STX 49.5 0.03 33.70 162 128 45 459 15.8 3

143 COLIAN COL 49.3 0.03 21.41 87 799 47 338 18.8 18

144 ACTION ACT 48.7 0.03 15.80 9 301 17 114 5.1 22

145 WESTAISIC WES 48.6 0.03 377.16 167 122 100 520

146 GRAAL GRL 46.9 0.03 65.87 19 149 72 358 4.8 5

147 FERRUM FER 46.6 0.02 24.41 18 867 28 218 13.4 16

148 SILVANO SFG 46.4 0.02 9.33 14 376 12 73 1.5 3

149 PLAZACNTR PLZ 46.3 0.02 7.41 84 853 22 143 1.2 2

150 IDEON IDE 43.8 0.02 70.94 978 600 63 1 416


31

Fact Book 2013


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



151 LUBAWA LBW 43.3 0.02 51.12 220 503 72 576 0.8 4

152 HYGIENIKA HGN 43.1 0.02 178.79 143 121 66 355 10.6 7

153 MERCOR MCR 43.0 0.02 22.82 14 141 26 185 0.8 1

154 ATM ATM 43.0 0.02 15.13 22 076 18 87

155 KREDYTIN KRI 42.7 0.02 24.95 12 861 14 106 0.4 1

156 BBIDEVNFI BBD 42.6 0.02 34.76 502 016 50 416 19.3 22

157 DOMDEV DOM 42.2 0.02 5.33 5 278 17 111

158 ZASTAL ZST 42.1 0.02 121.82 103 958 72 347 4.6 8

159 SANOK SNK 41.8 0.02 10.17 10 758 19 101

160 COGNOR COG 41.6 0.02 22.94 59 425 57 322 1.0 3

161 MOSTALZAB MSZ 41.5 0.02 45.30 132 862 56 506 39.5 28

162 RELPOL RLP 41.1 0.02 96.32 25 323 44 251 16.6 13

163 RUBICON RBC 40.5 0.02 162.79 502 489 76 352 1.7 4

164 KSGAGRO KSG 40.2 0.02 16.51 9 896 19 167

165 ABPL ABE 38.5 0.02 15.46 7 394 5 54 0.4 1

166 MOSTALWAR MSW 38.0 0.02 13.12 10 539 24 189

167 GROCLIN GCN 37.0 0.02 59.68 12 266 65 503

168 DEBICA DBC 36.8 0.02 14.74 2 627 11 121 75.9 2

169 KOMPUTRON KOM 36.0 0.02 71.59 23 624 75 384

170 ABMSOLID ABM 35.9 0.02 611.31 80 465 79 341 0.2 1

171 ACE ACE 35.2 0.02 28.67 24 135 20 127 0.4 3

172 HERKULES HRS 35.2 0.02 202.32 352 733 48 541

173 REGNON REG 34.8 0.02 192.45 1 333 107 58 928

174 MIRACULUM MIR 33.3 0.02 132.00 415 552 58 469 0.2 1

175 ENERGOINS ENI 32.9 0.02 18.81 12 825 17 223 1.8 1

176 IMCOMPANY IMC 31.7 0.02 8.13 10 217 20 124

177 EKO EKO 30.9 0.02 112.42 26 335 21 126 2.7 13

178 IZOSTAL IZS 30.2 0.02 12.04 15 661 16 122 0.3 2

179 BBIZENNFI BBZ 30.2 0.02 78.08 380 285 83 457 5.0 3

180 ATMGRUPA ATG 30.1 0.02 45.90 108 125 56 334 2.0 1


32

WSE Main List


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



181 ELBUDOWA ELB 29.9 0.02 6.02 1 149 5 70

182 MAGELLAN MAG 29.6 0.02 10.64 2 724 11 75 0.6 1

183 BOS BOS 29.5 0.02 5.03 3 969 21 241

184 WIELTON WLT 28.8 0.02 13.72 33 262 35 173

185 MOSTALEXP MSX 28.6 0.02 127.23 216 543 50 405 1.0 6

186 ASBIS ASB 28.1 0.01 21.14 45 884 26 138 0.5 1

187 FORTE FTE 28.1 0.01 11.08 10 211 14 110 0.7 1

188 JAGO JAG 27.8 0.01 324.77 731 607 68 480

189 MIT MIT 27.5 0.01 34.57 191 120 45 358 1.2 3

190 ABCDATA ABC 26.9 0.01 9.34 46 733 38 299

191 ELKOP EKP 25.8 0.01 104.34 407 075 45 446

192 APLISENS APN 25.7 0.01 18.36 9 508 13 69

193 MIESZKO MSO 25.2 0.01 16.09 26 010 25 166 0.4 1

194 FARMACOL FCL 24.9 0.01 4.77 4 093 9 89

195 FERRO FRO 24.4 0.01 15.89 13 315 8 54 0.3 1

196 STALPROFI STF 24.4 0.01 10.77 5 842 12 76

197 ZETKAMA ZKA 24.3 0.01 32.19 2 726 24 171 30.6 18

198 EMCINSMED EMC 24.2 0.01 37.71 8 591 15 90 1.2 5

199 NOWAGALA CNG 24.0 0.01 23.87 46 634 13 84 3.9 9

200 IPOPEMA IPE 23.7 0.01 11.00 13 067 11 84 0.1 1

201 REDAN RDN 23.4 0.01 67.39 46 338 45 262 8.3 11

202 OTMUCHOW OTM 23.4 0.01 19.69 10 081 15 125

203 SFINKS SFS 22.7 0.01 96.55 59 821 43 259 7.2 6

204 BLACKLION BLI 22.6 0.01 17.17 82 548 45 234 0.1 1

205 CHEMOS CHS 22.1 0.01 64.13 349 052 41 566

206 ENERGOPLD EPD 22.1 0.01 87.81 195 778 55 319 10.7 12

207 OPONEO.PL OPN 21.6 0.01 18.88 10 030 16 131 1.1 3

208 AMBRA AMB 21.5 0.01 18.35 13 136 14 149

209 TESGAS TSG 20.9 0.01 72.55 18 456 20 195 0.1 1

210 PAGED PGD 20.8 0.01 44.69 6 798 15 116 25.1 15


33

Fact Book 2013


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



211 KINOPOL KPL 20.5 0.01 21.08 9 003 16 99 5.9 5

212 RADPOL RDL 20.4 0.01 10.28 9 391 15 155 2.5 16

213 SOLAR SOL 20.4 0.01 7.00 11 168 15 102 2.0 2

214 FASING FSG 19.7 0.01 42.83 3 231 25 126 10.6 8

215 ACAUTOGAZ ACG 19.7 0.01 9.32 3 452 11 76 0.3 1

216 PEPEES PPS 19.2 0.01 31.71 84 763 32 225 3.4 4

217 ATREM ATR 19.2 0.01 76.89 14 125 22 206

218 AVIASG ASG 19.1 0.01 8.64 2 044 18 120

219 ZAMET ZMT 19.0 0.01 9.00 34 014 25 123 0.4 1

220 QUMAKSEK QSM 18.3 0.01 19.11 7 964 11 102

221 ENERGOPOL EPL 18.3 0.01 25.20 10 600 21 219 0.4 3

222 PROTEKTOR PRT 18.2 0.01 30.02 19 780 18 150 2.5 2

223 NOVITA NVT 18.0 0.01 38.67 3 338 16 156 3.6 4

224 ORCOGROUP OPG 17.8 0.01 8.17 5 595 31 1 691

225 VANTAGE VTG 17.6 0.01 21.35 62 989 36 162 0.2 1

226 ARMATURA ARM 17.5 0.01 14.75 47 549 38 233

227 ZYWIEC ZWC 17.1 0.01 0.34 140 16 170 0.1 1

228 4FUNMEDIA 4FM 16.7 0.01 32.13 3 707 11 71 5.5 8

229 PBSFINANSE PBF 16.7 0.01 35.67 123 454 36 210 4.2 7

230 SNIEZKA SKA 16.6 0.01 11.17 2 106 7 66

231 IQP IQP 16.5 0.01 60.95 45 832 37 240 6.1 1

232 UNIBEP UNI 16.2 0.01 9.48 12 692 14 85 0.3 1

233 KANIA KAN 16.0 0.01 18.15 38 211 28 161 0.6 3

234 PLASTBOX PLX 16.0 0.01 11.01 18 020 12 84 2.2 4

235 INTERSPPL IPO 15.8 0.01 70.15 20 471 35 184

236 HYDROTOR HDR 15.8 0.01 29.74 2 346 11 89 0.4 1

237 BERLING BRG 15.7 0.01 18.13 12 310 6 89 0.4 2

238 06MAGNA 06N 15.5 0.01 77.30 180 555 46 399 7.1 7

239 TIM TIM 15.3 0.01 11.26 9 953 9 108

240 ARCTIC ATC 15.3 0.01 4.61 10 246 18 199


34

WSE Main List


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



241 ZREMB ZRE 15.1 0.01 138.25 185 930 40 381 0.1 1

242 GINOROSSI GRI 14.8 0.01 37.02 49 006 19 159 0.3 1

243 BIPROMET BPM 14.3 0.01 33.97 8 457 15 92

244 LENA LEN 14.3 0.01 31.50 23 255 16 101 4.3 7

245 WORKSERV WSE 14.1 0.01 19.06 17 475 18 75 27.4 9

246 ERG ERG 14.0 0.01 61.50 106 966 31 311

247 BUDOPOL BDL 13.9 0.01 62.02 129 521 40 422

248 K2INTERNT K2I 13.8 0.01 45.96 3 745 16 132 1.2 4

249 WARIMPEX WXF 13.8 0.01 7.14 15 126 12 165 0.3 1

250 LSTCAPITA LST 13.7 0.01 55.07 91 858 25 143 0.8 4

251 JHMDEV JHM 13.7 0.01 31.89 160 082 33 149

252 INSTALKRK INK 13.5 0.01 16.81 3 647 14 96 1.5 1

253 CAPITAL CPA 13.5 0.01 56.72 36 063 26 234 5.4 13

254 SWISSMED SWD 13.3 0.01 38.66 81 434 34 362

255 ALMA ALM 13.0 0.01 10.43 1 648 19 172 3.4 6

256 ELEKTROTI ELT 12.9 0.01 15.38 6 150 12 87

257 PANOVA NVA 12.1 0.01 10.42 2 426 10 55

258 ASSECOBS ABS 11.9 0.01 3.63 4 865 8 74

259 MWTRADE MWT 11.9 0.01 16.13 5 172 23 172 0.6 4

260 KOELNER KLR 11.8 0.01 3.43 4 483 13 84

262 KRUSZWICA KSW 11.6 0.01 2.18 1 484 17 124

261 PGODLEW PGO 11.6 0.01 6.33 24 494 15 86

263 POLAQUA PQA 11.4 0.01 7.38 8 147 19 121

264 PBOANIOLA PBO 11.3 0.01 105.82 14 457 32 213 0.4 4

265 ASSECOSLO ACS 11.2 0.01 2.58 2 211 2 24

266 ADVGRUPA ADV 11.0 0.01 50.73 3 766 14 86 23.0 17

267 ZUE ZUE 11.0 0.01 6.95 6 139 6 57

268 ASSECOSEE ASE 10.9 0.01 7.82 5 563 5 62 21.7 11

269 ERGIS EEF 10.6 0.01 11.51 18 223 11 82

270 NTTSYSTEM NTT 10.6 0.01 24.82 53 203 33 214 0.3 3


35

Fact Book 2013


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



271 BBICAPNFI BBC 10.5 0.01 52.88 47 476 38 199 12.6 10

272 IDEATFI IDA 10.4 0.01 55.13 15 713 18 94 9.8 24

273 MEDIATEL MTL 10.3 0.01 71.60 24 429 16 94 1.9 4

274 SELENAFM SEL 10.2 0.01 8.12 6 137 8 60

275 ONE2ONE O2O 10.1 0.01 184.02 51 802 32 228

276 PEKAES PEK 10.0 0.01 13.11 6 492 12 159

277 ADVADIS ADS 9.9 0.01 76.64 571 178 25 677 0.6 1

278 NOVAKBM KBM 9.9 0.01 4.56 6 514 6 56 1.2 5

279 PROCHNIK PRC 9.9 0.01 32.99 162 265 23 328

280 ERBUD ERB 9.9 0.01 5.41 2 745 12 100

281 INVESTCON INC 9.7 0.01 53.59 35 856 23 124 9.2 15

282 POINTGROUP PGM 9.6 0.01 43.97 183 277 25 171

283 JUPITER JPR 9.6 0.01 19.38 40 583 45 285

284 HUTMEN HTM 9.5 0.01 11.08 10 775 19 214 0.6 4

285 ODLEWNIE ODL 9.4 0.01 21.00 17 425 21 185

286 FOTA FOT 9.3 0.00 18.54 5 800 22 122

287 MAKRUM MKM 9.3 0.00 18.68 31 273 15 109

288 PROJPRZEM PJP 9.1 0.00 23.71 5 211 15 99

289 BUMECH BMC 9.0 0.00 34.23 4 054 13 94 7.0 3.0

290 SANWIL SNW 9.0 0.00 46.53 93 656 24 326

291 CENTKLIMA CKL 9.0 0.00 52.63 2 835 6 39

292 PROCHEM PRM 8.9 0.00 18.25 2 794 18 94 0.1 1

293 PRAGMAINK PRI 8.6 0.00 15.61 1 905 12 56

294 COMPLEX CMX 8.6 0.00 20.21 20 695 19 118

295 KRAKCHEM KCH 8.5 0.00 22.76 7 114 18 145 2.6 3

297 EUCO EUC 8.5 0.00 13.17 2 960 18 132

296 RAINBOW RBW 8.5 0.00 33.57 9 960 8 83 0.1 1

298 EUIMPLANT EUI 8.5 0.00 74.48 229 266 23 259

299 RONSON RON 8.3 0.00 3.20 35 015 11 122

300 CAMMEDIA CAM 8.3 0.00 56.85 9 782 5 31


36

WSE Main List


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



301 BSCDRUK BSC 8.2 0.00 8.94 2 112 4 31 5.0 8

302 VINDEXUS VIN 8.2 0.00 31.75 7 749 13 82 7.4 16

303 INTAKUS ITK 8.1 0.00 166.74 97 097 23 138

304 ATMSI ASI 8.0 0.00 15.46 37 688 9 55

305 DECORA DCR 8.0 0.00 9.60 4 357 9 78

306 ROPCZYCE RPC 7.9 0.00 10.87 2 010 19 131

307 PEGAS PGS 7.8 0.00 1.06 394 2 184

308 DUON DUO 7.6 0.00 13.04 45 852 19 183 0.4 2

309 LIBET LBT 7.4 0.00 4.14 8 308 9 116

310 POZBUD POZ 7.3 0.00 11.26 8 814 18 124

311 DROZAPOL DPL 7.2 0.00 30.75 22 221 16 182

312 ENELMED ENE 7.1 0.00 8.11 7 679 13 96

313 KCI KCI 7.0 0.00 36.79 45 822 20 218 0.6 2

314 MOSTALPLC MSP 7.0 0.00 22.81 1 752 15 112

315 FAM FAM 6.9 0.00 20.34 21 753 14 185 1.5 8

316 ARTERIA ARR 6.9 0.00 13.73 2 161 6 53 0.4 1

317 TELL TEL 6.9 0.00 25.72 2 866 10 97

318 MARVIPOL MVP 6.8 0.00 5.73 2 994 10 88 13.4 4

319 ESSYSTEM ESS 6.8 0.00 7.08 12 183 5 47

320 EDINVEST EDI 6.8 0.00 14.67 6 005 5 48 1.6 8

321 GETINOBLE1 GNB1 6.7 0.00 0.37 13 942 22 160 9.1 4

322 REINHOLD RHD 6.7 0.00 101.97 24 980 23 175

323 NETMEDIA NEM 6.6 0.00 12.78 6 237 6 70

326 DROP DRP 6.5 0.00 10.78 2 539 7 58

324 ULMA ULM 6.5 0.00 2.63 451 4 50

325 YAWAL YWL 6.5 0.00 31.28 4 748 18 114

327 PRESCO PRE 6.3 0.00 4.09 3 238 17 84

328 HYPERION HYP 6.3 0.00 30.68 9 904 6 76 4.0 7

329 DGA DGA 6.1 0.00 40.92 13 412 15 186

330 DRAGOWSKI ADD 6.0 0.00 91.45 35 919 16 195


37

Fact Book 2013


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



331 ARCUS ARC 6.0 0.00 25.31 7 517 13 84

332 BAKALLAND BAK 5.9 0.00 9.57 7 494 11 122 0.1 1

333 ROBYG ROB 5.9 0.00 6.63 16 814 12 91 14.2 2

334 DMWDM WDM 5.7 0.00 17.12 56 739 12 148

336 BETACOM BCM 5.7 0.00 47.17 3 827 12 97

335 HARPER HRP 5.7 0.00 5.24 12 214 12 64

337 PTI PTI 5.5 0.00 3.69 1 641 13 80 0.9 1

338 WILBO WLB 5.5 0.00 105.75 40 446 15 166

339 NORTCOAST NCT 5.4 0.00 55.56 49 088 18 143

340 TFONE TFO 5.4 0.00 36.38 11 848 20 134

341 EUROTEL ETL 5.4 0.00 9.29 1 398 7 52

342 SKYLINE SKL 5.2 0.00 24.79 8 728 20 93 0.4 3

343 DELKO DEL 5.1 0.00 32.09 5 539 10 90 1.7 4

344 CASHFLOW CFL 5.1 0.00 73.20 7 349 17 142

345 ENAP ENP 4.9 0.00 26.79 21 726 12 114

346 QUERCUS QRS 4.8 0.00 5.42 8 374 8 56 0.6 1

347 WIKANA WIK 4.7 0.00 1.01 34 293 17 230

348 BMPAG BMP 4.7 0.00 8.90 6 723 10 84

349 REMAK RMK 4.6 0.00 6.12 737 12 103

350 VOXEL VOX 4.6 0.00 4.10 5 800 28 108 0.3 1

351 CCENERGY CCE 4.5 0.00 34.53 73 921 15 314

352 KREC KRC 4.5 0.00 9.93 5 937 6 59

353 IVMX IMX 4.5 0.00 6.86 3 261 9 53

354 POLNA PLA 4.3 0.00 47.69 1 572 9 107 0.3 1

355 PATENTUS PAT 4.3 0.00 21.87 9 992 11 91

356 HELIO HEL 4.3 0.00 13.16 2 423 9 104 0.2 1

357 LIBRA LBC 4.2 0.00 55.23 7 172 9 76 9.9 13

358 LSISOFT LSI 4.1 0.00 60.36 5 369 11 97

359 NOKAUT NOK 4.1 0.00 5.78 2 164 14 78

360 INTROL INL 4.0 0.00 6.58 3 967 11 79


38

WSE Main List


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



361 OPTEAM OPM 4.0 0.00 23.46 5 488 6 60 1.3 6

362 IZOLACJA IZO 3.9 0.00 1.22 16 812 17 167

363 BYTOM BTM 3.8 0.00 20.08 41 056 13 159

364 TUP TUP 3.8 0.00 9.37 5 120 16 181

365 TRANSPOL TRN 3.8 0.00 14.07 1 865 2 20 0.2 1

366 MAKARONPL MAK 3.5 0.00 14.02 5 207 11 82

367 VOTUM VOT 3.5 0.00 9.34 3 296 12 76 1.2 2

368 PCCINTER PCI 3.4 0.00 2.52 4 448 6 32

369 KOMPAP KMP 3.4 0.00 11.38 2 018 10 81 0.2 1

370 ELZAB ELZ 3.4 0.00 32.39 9 803 6 73

371 PROCAD PRD 3.2 0.00 28.69 10 392 13 120

372 ATLANTAPL ATP 3.1 0.00 7.62 1 817 11 60 0.1 1

373 POLCOLORIT PLT 3.0 0.00 17.66 67 454 9 246

375 SONEL SON 2.9 0.00 3.94 2 176 4 37

374 WANDALEX WDX 2.9 0.00 25.36 7 445 12 102

376 INTERAOLT IRL 2.9 0.00 0.55 18 243 40 75

377 PWRMEDIA PWM 2.9 0.00 74.47 11 077 7 83 0.2 2

378 SIMPLE SME 2.8 0.00 30.32 1 685 8 73 2.8 7

379 ATLASEST ATL 2.8 0.00 6.60 6 713 5 48 3.5 4

380 B3SYSTEM B3S 2.8 0.00 27.08 14 078 10 106 0.1 1

381 POLMED POM 2.8 0.00 7.06 6 014 13 70

382 AWBUD AWB 2.8 0.00 20.38 14 194 10 87 19.4 7

383 PRAGMAFA PRF 2.8 0.00 9.71 670 11 85 1.0 2

384 SKOK SKO 2.7 0.00 2.01 3 561 13 131

385 SUWARY SUW 2.7 0.00 7.08 710 5 53 2.3 2

386 INTERBUD ITB 2.5 0.00 25.51 2 120 11 69 0.4 2

387 KBDOM KBD 2.5 0.00 39.29 56 729 10 243

388 MEWA MEW 2.5 0.00 30.55 35 509 11 188

389 MCLOGIC MCL 2.4 0.00 4.02 300 2 44

390 TOYA TOA 2.4 0.00 1.20 3 603 3 27


39

Fact Book 2013


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



391 EUROMARK EMK 2.4 0.00 53.29 26 151 7 68

392 WADEX WAX 2.3 0.00 15.66 1 200 13 63

393 OLYMPIC OEG 2.2 0.00 0.26 1 608 1 18

395 PERMEDIA PMD 2.1 0.00 19.55 1 194 6 99 0.5 1

394 VARIANT VRT 2.1 0.00 61.95 5 238 12 110 1.9 7

396 INTERFERI INF 2.1 0.00 11.64 1 725 2 36 0.9 2

397 WISTIL WST 2.0 0.00 9.39 377 3 44

398 PCCEXOL PCX 2.0 0.00 1.43 7 819 23 87

399 WOJAS WOJ 1.8 0.00 12.01 1 816 7 68 3.1 2

400 BEDZIN BDZ 1.8 0.00 2.22 281 2 37

401 DREWEX DRE 1.8 0.00 61.16 19 711 7 91

402 FASTFIN FFI 1.8 0.00 7.34 16 217 13 122

403 KONSSTALI KST 1.8 0.00 0.81 192 3 47

404 PAMAPOL PMP 1.7 0.00 2.78 2 587 5 68

405 MUZA MZA 1.6 0.00 15.77 1 469 10 132 0.3 3

406 TRITON TRI 1.5 0.00 27.78 3 281 8 96 11.8 18

407 SEKO SEK 1.5 0.00 19.98 1 725 5 64

408 TRAVELPL TVL 1.5 0.00 8.86 843 5 80

409 EFEKT EFK 1.3 0.00 13.99 638 5 60 0.4 1

410 INDYKPOL IND 1.3 0.00 1.39 124 2 39

411 AGROWILL AWG 1.2 0.00 2.01 6 855 4 35

412 TALEX TLX 1.2 0.00 17.48 722 13 43 0.2 1

413 BOWIM BOW 1.1 0.00 45.32 646 7 53 31.5 7

414 AMPLI APL 1.1 0.00 28.68 2 228 3 83 0.2 2

415 PRIMAMODA PMA 1.1 0.00 12.46 801 11 122

416 TERESA TER 1.0 0.00 6.56 298 2 21 0.3 1

417 MOBRUK MBR 1.0 0.00 4.59 96 1 17

418 GREMISLTN GRS 1.0 0.00 9.34 1 356 4 81

419 UNIMA U2K 1.0 0.00 17.81 1 180 11 113

420 INPRO INP 1.0 0.00 0.68 1 101 6 44


40

WSE Main List


Turnover value

Share in turnover

Annual turnover

ratio

Average volume per

session

Average number of



session

Turnover value



421 MEGARON MEG 0.9 0.00 6.57 126 2 28 0.3 1

422 ECARD ECD 0.9 0.00 8.47 16 324 12 171

423 KOFOLA KFL 0.9 0.00 0.30 158 3 33

424 TATRY TMR 0.9 0.00 0.07 96 3 11

425 CELTIC CPD 0.8 0.00 0.33 418 3 49 0.1 1

426 RAFAMET RAF 0.8 0.00 1.02 177 11 73

427 KDMSHIPNG KDM 0.8 0.00 0.41 297 4 41

428 NORDEABP NDA 0.7 0.00 0.07 97 1 33

429 MOJ MOJ 0.7 0.00 9.37 1 605 4 63

430 KPPD KPD 0.7 0.00 1.65 107 1 23

431 EXILLON EXL 0.6 0.00 0.05 1 960 9 48

432 MISPOL MIP 0.6 0.00 3.02 1 941 2 49

433 PEMUG PMG 0.5 0.00 1.55 1 888 2 45

434 BUDVARCEN BDV 0.5 0.00 2.04 809 2 68

435 MEXPOLSKA MEX 0.4 0.00 7.35 596 3 21 2.0 6

436 EUROHOLD EHG 0.4 0.00 0.16 710 1 19

437 NEWWORLDN NWN 0.4 0.00 0.01 80 1 19

438 BEST BST 0.4 0.00 0.34 73 1 21

439 POLLENAE PLE 0.3 0.00 27.81 128 1 27

440 QUANTUM QNT 0.3 0.00 6.06 178 1 29

441 SOPHARMA SPH 0.2 0.00 1.01 100 0 10 6.3 3

442 BNPPL BNP 0.1 0.00 0.01 8 1 33

443 ELSTAROIL ELS 0.0 0.00 0.00 0 0

444 ESTAR EST 0.0 0.00 1.27 0 0 3 2.7 6


41

Fact Book 2013

No. Shares Date(dd.mm)

Turnover value

(PLN million)

Turnover volume (shares)

1 TPSA 17.10 528.06 39 409 994

2 PKOBP 31.08 509.07 14 365 713

3 KGHM 01.08 480.23 3 764 655

4 KGHM 12.01 434.68 3 572 738

5 KGHM 27.07 425.40 3 469 135

6 KGHM 14.09 414.14 2 724 229

7 KGHM 03.07 406.82 2 722 979

8 KGHM 17.07 340.74 2 901 727

9 KGHM 12.07 328.47 2 765 252

10 KGHM 28.06 327.98 2 280 352

11 PZU 15.06 322.93 993 896

12 PKOBP 18.07 313.27 9 586 619

13 KGHM 27.11 299.93 1 666 798

14 PGE 23.02 285.58 14 790 807

15 PKOBP 19.07 284.47 8 628 358

16 KGHM 21.12 277.17 1 478 638

17 PEKAO 07.12 273.40 1 665 478

18 KGHM 14.03 266.12 1 733 354

19 KGHM 15.06 262.58 1 825 519

20 KGHM 07.03 261.99 1 852 175

21 PKOBP 19.01 259.63 7 869 179

22 PZU 19.03 256.88 770 509

23 PKNORLEN 19.10 252.72 5 857 552

24 KGHM 30.05 250.32 2 018 812

25 KGHM 11.07 249.77 1 723 436

26 KGHM 29.02 247.51 1 646 761

27 TPSA 17.12 243.91 20 315 931

28 KGHM 10.07 241.09 1 644 432

29 KGHM 05.07 239.34 1 569 802

30 PZU 22.08 238.32 673 257

31 PKOBP 22.02 232.13 6 580 737

32 PKNORLEN 18.10 230.22 5 187 058

33 KGHM 19.06 227.17 1 541 836

34 KGHM 08.06 226.27 1 708 370

35 KGHM 19.01 224.18 1 757 703

36 PEKAO 15.06 223.04 1 576 337

37 PGNIG 06.11 222.28 50 804 259


Turnover value

(PLN million)


38 EUROCASH 31.05 217.04 5 639 718

39 KGHM 06.03 212.88 1 499 641

40 KGHM 01.02 212.77 1 487 560

41 KGHM 28.03 212.45 1 473 223

42 PZU 06.09 212.40 609 523

43 KGHM 10.05 209.97 1 615 998

44 PGE 16.08 209.41 10 256 375

45 PZU 21.12 206.61 481 510

46 KGHM 09.08 202.26 1 567 938

47 PKOBP 31.01 202.14 5 790 109

48 PKOBP 04.12 201.99 5 737 213

49 KGHM 17.05 201.82 1 662 830

50 KGHM 14.11 201.49 1 193 513

51 KGHM 30.07 200.21 1 575 687

52 KGHM 26.01 199.68 1 515 052

53 PKOBP 26.01 199.02 5 677 511

54 KGHM 16.03 196.43 1 282 721

55 KGHM 19.11 195.07 1 110 649

56 KGHM 25.07 195.05 1 714 199

57 KGHM 28.11 193.21 1 107 841

58 PZU 15.02 192.58 565 999

59 PKOBP 20.07 190.87 5 910 490

60 KGHM 30.03 190.61 1 337 082

61 PZU 20.12 190.45 438 269

62 KGHM 12.12 190.42 1 016 843

63 KGHM 27.06 187.60 1 267 838

64 KGHM 07.09 187.40 1 341 732

65 KGHM 31.01 187.19 1 339 130

66 KGHM 24.02 187.00 1 313 744

67 PGE 14.08 186.97 9 276 218

68 ALIOR 14.12 184.35 3 035 630

69 TPSA 18.10 184.24 13 599 089

70 PEKAO 18.07 183.13 1 291 731

71 PEKAO 26.01 182.56 1 174 706

72 PKOBP 26.04 180.97 5 578 483

73 TPSA 15.06 180.11 10 502 344

74 PKOBP 15.06 179.92 5 465 940

Shares with highest daily turnover in 2012

42

WSE Main List


Turnover value

(PLN million)


75 PZU 20.08 178.53 497 233

76 KGHM 18.06 178.41 1 236 481

77 PZU 24.08 177.10 491 719

78 KGHM 29.06 176.83 1 220 911

79 KGHM 28.09 176.01 1 158 264

80 KGHM 31.05 175.97 1 385 224

81 PGE 24.02 175.17 8 884 191

82 PKOBP 16.03 173.65 4 961 454

83 TPSA 18.06 173.63 10 080 008

84 PKOBP 24.02 173.39 5 083 373

85 KGHM 24.09 173.29 1 147 860

86 PKOBP 21.09 171.64 4 654 409

87 PZU 09.02 171.37 499 610


Turnover value

(PLN million)


88 KGHM 05.12 170.63 930 440

89 KGHM 20.06 170.36 1 152 627

90 KGHM 04.04 169.73 1 199 077

91 KGHM 24.05 166.45 1 410 284

92 KGHM 10.02 166.34 1 207 750

93 KGHM 08.05 166.21 1 262 363

94 PKOBP 21.12 166.05 4 536 568

95 KGHM 09.03 165.43 1 127 277

96 KGHM 05.03 165.19 1 113 203

97 KGHM 06.07 164.76 1 096 794

98 KGHM 12.06 164.69 1 181 044

99 KGHM 12.09 163.88 1 135 063

100 KGHM 13.12 163.76 869 039

Shares with highest daily turnover in 2012 (contd.)

Shares by return in 2012

No. Company Rate of return since year-beginning (%)

Price

low high end

(PLN) (EUR) (PLN) (PLN) (PLN)1 URSUS 419.92 463.65 0.66 4.89 3.46

2 KREZUS 206.67 232.44 5.81 19.74 18.40

3 KINOPOL 173.12 196.07 5.50 13.80 13.55

4 GRAAL 171.82 194.67 5.37 15.60 14.95

5 ENERGOINS 137.32 157.25 6.00 14.50 14.50

6 LPP 131.22 150.64 1 952.00 4 890.00 4 550.00

7 GRAJEWO 130.30 149.64 5.22 15.10 13.15

8 ZPUE 129.42 148.69 112.90 257.00 247.90

9 EMCINSMED 124.96 143.87 6.81 16.60 15.95

10 INTERSPPL 118.52 136.83 1.34 4.56 2.95

11 KGHM 113.40 131.33 109.60 194.80 190.00

12 AVIASG 111.64 129.42 24.51 60.00 60.00

13 ERGIS 111.39 129.16 1.32 3.43 3.34

14 WISTIL 111.11 128.85 5.94 33.02 11.40

15 IMCOMPANY 109.35 126.94 7.70 17.35 16.35

16 NFIEMF 107.87 125.33 8.02 16.66 16.65

17 MENNICA 106.56 123.92 10.62 24.60 22.66

18 APLISENS 97.96 114.59 7.41 14.59 14.49

43

Fact Book 2013


Price

low high end

(PLN) (EUR) (PLN) (PLN) (PLN)

19 WIELTON 97.84 114.48 2.26 4.90 4.25

20 AZOTYTARNOW 97.80 114.42 25.25 54.00 53.90

21 ASBIS 96.48 112.98 1.37 3.00 2.88

22 BEST 92.15 108.30 11.25 36.50 24.00

23 PCCEXOL 89.57 105.51 2.01 4.50 4.00

24 APATOR 88.87 104.74 17.61 32.69 32.63

25 OTMUCHOW 87.39 103.13 5.70 11.00 10.70

26 BERLING 86.31 101.96 3.28 6.79 6.60

27 EKOEXPORT 83.74 99.17 8.00 24.95 14.85

28 GREENECO 83.33 98.72 0.56 3.56 1.65

29 PULAWY 82.51 97.84 81.00 144.80 137.50

30 RELPOL 81.86 97.14 4.50 9.20 8.06

31 LOTOS 76.82 91.68 21.30 43.78 41.20

32 SNIEZKA 76.46 91.28 22.72 39.75 39.39

33 ZETKAMA 74.25 88.88 23.40 45.45 41.38

34 ATM 73.75 88.34 5.50 10.50 10.39

35 BENEFIT 73.54 88.12 133.00 260.00 230.00

36 AMICA 70.78 85.13 31.31 55.00 54.65

37 PROTEKTOR 70.46 84.77 2.28 4.70 4.04

38 ZAMET 68.57 82.74 1.34 2.94 2.65

39 KREDYTB 68.37 82.51 9.48 16.80 16.50

40 OLYMPIC 67.95 82.06 3.25 6.89 6.55

41 NTTSYSTEM 67.44 81.42 0.44 1.11 0.72

42 MEGARON 66.80 80.81 18.31 38.60 33.50

43 BIOTON 66.67 80.15 0.05 0.13 0.10

44 FAMUR 66.20 80.16 2.71 4.97 4.77

45 WAWEL 66.20 80.16 484.40 804.00 798.00

46 PCGUARD 66.09 80.03 0.72 2.20 1.91

47 AMBRA 64.73 78.57 5.13 8.70 8.09

48 SKOTAN 63.86 77.60 2.44 5.15 4.08

49 MERCOR 63.36 77.07 8.17 16.18 14.80

50 FASING 62.50 76.15 16.10 29.89 26.67

51 INTEGERPL 61.28 74.83 111.10 195.00 184.50

52 KRAKCHEM 60.93 74.45 3.61 6.40 5.90

53 MCI 60.86 74.37 3.75 6.45 6.37

54 CCC 59.85 73.27 45.12 76.70 73.00

55 EKO 59.77 73.19 3.05 7.04 6.95

Shares by return in 2012 (contd.)

44

WSE Main List


Price

low high end


56 VOXEL 58.77 72.11 14.00 19.81 18.10

57 EDINVEST 58.69 72.02 2.47 5.95 4.00

58 ZELMER 58.17 71.46 25.50 39.33 39.28

59 STAPORKOW 57.75 71.00 13.25 39.00 20.47

60 ODLEWNIE 56.80 69.96 1.21 2.62 1.96

61 SANOK 56.45 69.60 10.47 19.23 18.15

62 BANKBPH 54.23 67.18 30.77 49.50 48.89

63 EUROCASH 53.83 66.75 27.71 49.00 43.70

64 SECOGROUP 53.76 66.68 20.36 39.30 35.21

65 ECHO 53.50 66.38 3.28 5.57 5.05

66 PEP 51.53 64.26 18.15 32.95 28.70

67 ROPCZYCE 50.88 63.55 11.00 20.00 17.20

68 PZU 50.85 63.53 290.10 441.50 437.00

69 YAWAL 50.70 63.37 3.40 7.80 5.35

70 AMREST 50.31 62.94 61.00 99.00 96.20

71 HANDLOWY 49.87 62.46 65.35 102.10 98.30

72 SELENAFM 49.81 62.39 5.12 11.90 7.94

73 KOFOLA 49.30 61.85 16.92 32.00 27.50

74 LENA 48.40 60.89 1.85 3.15 3.00

75 SIMPLE 47.53 59.93 4.80 10.34 7.23

76 WADEX 46.66 58.98 4.90 11.00 10.78

77 PKNORLEN 46.02 58.29 31.44 53.70 49.50

78 PWRMEDIA 45.03 57.23 0.70 1.58 1.30

79 MOSTALPLC 44.83 57.00 10.35 22.84 21.00

80 KETY 44.46 56.60 97.60 151.10 144.90

81 FORTE 44.43 56.56 8.60 12.90 12.90

82 INSTALKRK 44.00 56.09 11.52 17.95 17.15

83 HYGIENIKA 43.18 55.22 0.76 1.59 1.26

84 ROBYG 43.11 55.18 1.04 1.84 1.43

85 ENAP 43.08 55.03 0.65 1.18 0.93

86 NEUCA 42.96 54.97 67.50 100.00 95.50

87 MIESZKO 42.95 54.97 2.96 4.56 4.36

88 FARMACOL 42.94 54.95 19.50 33.83 32.59

89 RESBUD 41.52 53.40 3.33 70.00 5.59

90 HYDROTOR 41.44 53.33 19.84 33.55 26.94

91 VOTUM 41.00 52.85 3.25 5.00 4.64

92 RAINBOW 40.96 52.79 2.25 4.50 4.13


45

Fact Book 2013


Price

low high end


93 BBIDEVNFI 40.74 52.70 0.27 0.40 0.38

94 PRESCO 40.54 52.35 5.04 9.90 7.28

95 MONNARI 40.24 51.97 0.71 1.51 1.15

96 NOVITA 40.18 51.95 17.00 24.94 22.60

97 MWTRADE 40.00 51.76 6.70 12.00 9.80

98 EUROTEL 38.84 50.51 11.44 17.99 17.30

99 ELEKTROTI 38.40 50.03 6.50 10.50 8.60

100 GETINOBLE 38.29 49.91 1.32 2.15 1.79

101 IMPEL 36.66 48.14 22.10 31.90 30.74

102 ZASTAL 36.23 47.70 0.69 2.63 1.88

103 ACAUTOGAZ 35.81 47.22 19.00 24.89 24.50

104 VISTULA 35.48 46.87 0.72 1.38 1.08

105 PROJPRZEM 35.38 46.76 4.76 9.83 8.80

106 BOGDANKA 35.15 46.51 103.90 143.00 136.00

107 COMARCH 35.15 46.50 53.90 80.00 73.50

108 OPENFIN 34.95 46.29 9.61 17.00 14.00

109 LCCORP 34.48 45.79 0.85 1.50 1.17

110 4FUNMEDIA 34.33 45.61 13.60 21.25 20.20

111 QUERCUS 34.13 45.42 1.87 2.75 2.46

112 SYNTHOS 33.82 45.06 4.16 6.78 5.41

113 POLNA 33.57 44.79 9.05 13.35 13.09

114 ACE 33.03 44.20 4.16 8.17 5.70

115 OVOSTAR 32.84 44.00 68.00 132.50 89.00

116 BRE 32.52 43.65 239.00 337.00 326.00

117 OPTEAM 32.31 43.42 1.54 4.95 4.30

118 WARIMPEX 32.20 43.31 2.62 4.63 3.90

119 KOGENERA 31.96 43.05 61.00 90.00 86.50

120 KREC 30.77 41.75 2.31 3.84 3.40

121 DUON 30.19 41.08 0.51 0.84 0.69

122 KANIA 29.50 40.39 1.32 2.13 1.80

123 PRAGMAFA 29.32 40.18 12.77 18.31 16.35

124 DREWEX 29.17 40.15 0.19 0.84 0.31

125 SONEL 28.02 38.77 3.99 6.20 4.91

126 PGNIG 27.70 38.43 3.61 5.25 5.21

127 CIECH 27.59 38.30 14.76 23.59 22.20

128 ASSECOBS 27.53 38.25 8.00 11.14 10.75

129 ADVGRUPA 27.50 38.22 8.80 15.50 13.12


46

WSE Main List


Price

low high end


130 ACTION 26.72 37.36 17.90 24.10 22.40

131 ASSECOSLO 26.06 36.65 17.03 24.00 19.51

132 KOMPUTRON 26.05 36.64 3.78 10.72 5.37

133 UNICREDIT 25.40 35.94 9.19 30.70 15.69

134 ARCUS 24.76 35.23 2.35 4.23 3.83

135 POLICE 24.52 34.98 7.36 12.50 12.39

136 ARTERIA 24.50 34.96 10.30 14.48 13.43

137 FERRO 23.88 34.29 5.03 9.75 6.20

138 PTI 23.64 34.03 10.20 15.95 15.95

139 PEKAO 23.12 33.46 128.10 173.10 167.50

140 STALPROFI 22.96 33.30 13.10 21.05 16.76

141 RANKPROGR 22.85 33.17 6.60 18.00 11.02

142 EFEKT 22.03 32.28 6.99 10.40 8.60

143 DOMDEV 21.81 32.05 23.00 45.10 34.19

144 CYFRPLSAT 21.56 31.77 12.25 17.67 16.41

145 HAWE 21.02 31.19 2.92 6.54 3.80

146 SUWARY 21.02 31.19 12.50 18.70 17.79

147 WASKO 20.60 30.72 1.88 3.15 2.51

148 DEBICA 20.51 30.63 46.00 62.85 61.00

149 FAM 20.49 30.63 1.03 1.63 1.47

150 LENTEX 19.51 29.55 4.05 5.26 4.90

151 PKOBP 19.46 29.49 30.10 38.50 36.90

152 GREMISLTN 19.00 29.00 2.21 3.59 2.63

153 PROCHEM 17.81 27.71 9.30 17.20 16.14

154 GTC 17.72 27.61 5.13 11.47 9.90

155 CDPROJEKT 17.65 27.53 4.20 7.00 6.20

156 ZUE 17.41 27.28 5.02 8.70 6.54

157 BGZ 17.20 27.05 44.80 72.50 54.85

158 PGODLEW 17.09 26.92 1.39 2.28 1.85

159 PAGED 16.73 26.54 9.11 15.20 15.14

160 IZOSTAL 16.48 26.26 6.50 9.80 7.50

161 GROCLIN 16.47 26.25 7.38 16.70 12.66

162 MILLENNIUM 16.32 26.08 3.14 4.65 4.42

163 INTERFERI 16.26 26.02 3.87 5.29 5.22

164 NETMEDIA 16.22 25.98 3.50 5.01 4.30

165 CAPITAL 16.10 25.82 1.00 2.28 1.37

166 JSW 15.96 25.71 82.15 112.50 92.40


47

Fact Book 2013


Price

low high end


167 BSCDRUK 15.93 25.67 13.29 17.50 17.20

168 INGBSK 15.78 25.50 71.50 93.50 91.00

169 STALEXP 15.70 25.40 0.99 1.45 1.40

170 ENERGOPOL 15.62 25.33 4.41 10.33 8.44

171 GPW 14.62 24.25 32.10 43.89 38.87

172 ELBUDOWA 14.47 24.09 84.50 120.00 106.50

173 CASHFLOW 14.35 23.96 1.86 3.85 2.39

174 POZBUD 13.34 22.88 2.43 4.60 3.40

175 ASSECOSEE 13.29 22.80 6.81 9.90 9.20

176 DROP 13.29 22.81 6.85 17.11 9.00

177 KOV 12.93 22.43 1.08 1.93 1.31

178 KRKA 12.38 21.82 181.50 240.00 220.00

179 MAGELLAN 11.84 21.24 36.45 47.90 42.50

180 POLLENAE 11.76 21.15 7.19 10.90 9.50

181 KPPD 11.00 20.33 21.80 29.00 24.31

182 IPOPEMA 10.85 20.16 5.42 10.90 8.89

183 ENELMED 10.81 20.13 2.60 5.02 4.10

184 BZWBK 10.68 19.98 217.70 245.40 241.90

185 QUMAKSEK 10.57 19.85 6.99 12.36 9.31

186 PELION 10.25 19.52 23.01 37.50 30.50

187 BEDZIN 10.22 19.48 24.00 31.50 24.85

188 INTERAOLT 10.22 19.48 25.59 26.65 26.64

189 ALIOR 9.91 19.15 59.50 63.55 62.65

190 TERESA 9.69 18.90 10.91 18.50 13.22

191 ATLASEST 9.27 18.46 1.26 2.30 1.65

192 INTERCARS 9.19 18.36 79.30 110.00 86.00

193 ZEPAK 8.59 17.71 25.30 28.45 28.45

194 EMPERIA 8.42 17.52 37.00 119.90 57.95

195 MARVIPOL 8.38 17.48 6.11 11.00 9.70

196 RAFAKO 7.98 17.05 5.70 11.70 8.39

197 WOJAS 7.89 16.96 3.51 4.88 4.10

198 EXILLON 7.88 16.94 6.10 9.00 7.94

199 ALCHEMIA 7.53 16.56 4.11 6.91 5.00

200 INPRO 7.23 16.23 2.81 4.40 3.23

201 POLMED 6.97 15.93 1.31 2.58 1.83

202 ARMATURA 6.86 15.81 0.99 2.03 1.22

203 TFONE 6.82 15.78 1.13 2.88 1.88


48

WSE Main List


Price

low high end


204 BUDIMEX 6.13 15.04 45.37 89.00 70.00

205 BBICAPNFI 5.97 14.90 0.64 1.17 0.71

206 PEPEES 5.95 14.83 0.66 1.07 0.89

207 ASTARTA 5.77 14.66 46.00 74.85 55.00

208 PRAGMAINK 5.71 14.59 15.60 21.50 19.17

209 CALATRAVA 5.56 14.48 0.25 0.53 0.38

210 DECORA 5.02 13.84 4.86 13.00 8.50

211 PEGAS 4.96 13.78 62.30 86.00 77.00

212 AGORA 4.95 13.77 6.35 13.31 10.38

213 INTROL 4.05 12.80 3.35 4.88 4.45

214 ESSYSTEM 4.03 12.78 1.80 3.46 2.50

215 ORBIS 3.86 12.59 34.02 47.99 38.00

216 HUTMEN 3.79 12.51 3.02 4.29 3.29

217 ZREMB 3.70 12.44 0.21 0.45 0.28

218 MILKILAND 3.57 12.27 13.03 21.24 14.50

219 KREDYTIN 3.23 11.90 11.02 15.50 12.80

220 MOJ 3.07 11.73 1.42 2.30 1.68

221 ATMGRUPA 3.01 11.65 0.83 2.08 1.02

222 PANOVA 2.81 11.45 14.00 25.61 19.00

223 SKOK 2.79 11.42 2.65 3.75 2.90

224 ELZAB 2.76 11.39 0.94 1.85 1.49

225 PATENTUS 2.69 11.33 1.13 2.29 1.91

226 MOL 2.62 11.24 217.80 293.10 249.40

227 TATRY 2.58 11.20 176.00 185.00 183.00

228 WIKANA 2.56 11.21 0.37 0.77 0.40

229 BARLINEK 1.81 10.35 0.65 1.87 0.90

230 ABPL 1.78 10.33 17.50 24.53 19.44

231 PAMAPOL 1.48 10.01 1.70 3.28 2.74

232 KRUK 0.78 9.24 41.30 52.00 44.06

233 RAFAMET 0.38 8.82 16.56 20.90 17.66

234 BETACOM 0.14 8.55 4.60 7.70 5.40

235 IDEON 0.00 8.56 0.13 0.22 0.16

236 IMPEXMET 0.00 8.40 3.07 4.54 3.50

237 RADPOL -0.51 7.85 7.41 10.69 8.00

238 MAKRUM -0.96 7.35 0.92 1.43 1.03

239 RONSON -1.22 7.05 0.60 1.20 0.81

240 LUBAWA -1.41 6.91 0.60 0.94 0.70


49

Fact Book 2013


Price

low high end


241 LSTCAPITA -1.56 6.69 0.36 0.85 0.63

242 BORYSZEW -1.59 6.73 0.48 0.89 0.62

243 TOYA -1.64 6.63 1.80 3.15 2.40

244 ASSECOPOL -1.94 6.29 38.80 55.45 45.35

245 KCI -2.17 6.05 0.42 0.90 0.45

246 CAMMEDIA -2.27 5.95 2.87 4.71 3.02

247 TVN -2.79 5.38 5.90 12.40 9.92

248 UNIMA -2.88 5.28 2.91 3.94 3.17

249 PGE -3.23 4.90 16.72 21.78 18.21

250 BMPAG -3.53 4.59 2.38 3.43 2.46

251 KERNEL -3.89 4.19 51.00 76.00 66.75

252 ABCDATA -4.19 3.85 1.74 2.94 2.08

253 NOWAGALA -4.27 3.77 1.75 2.42 1.96

254 AMPLI -4.48 3.53 1.20 2.75 1.28

255 VARIANT -4.73 3.28 1.16 2.07 1.41

256 SWISSMED -5.00 3.02 0.44 0.89 0.57

257 TAURONPE -5.03 2.95 4.08 5.61 4.75

258 ERBUD -5.10 2.87 11.06 23.50 13.95

259 FORTUNA -5.18 2.78 12.30 17.80 13.50

260 COLIAN -5.22 2.75 1.70 3.14 2.18

261 KBDOM -5.56 2.21 0.10 0.23 0.17

262 K2INTERNT -6.39 1.47 10.41 24.80 16.99

263 TELL -6.54 1.31 6.60 11.91 10.00

264 PEMUG -6.67 1.18 0.75 1.69 0.98

265 MCLOGIC -6.90 0.92 19.90 42.45 32.00

266 PEKAES -7.25 0.54 4.30 7.30 5.50

267 AGROWILL -7.69 0.07 0.55 0.97 0.60

268 COMP -7.91 -0.17 47.00 78.60 59.40

269 SKYLINE -8.62 -0.96 1.53 4.39 1.59

270 HYPERION -8.73 -1.08 1.98 3.63 2.09

271 SILVANO -9.07 -1.43 10.00 15.85 12.00

272 FOTA -9.09 -1.45 3.75 9.95 4.20

273 FERRUM -9.15 -1.51 6.34 12.99 7.45

274 CCIINT -9.41 -1.80 25.60 36.80 26.00

275 HARPER -9.42 -1.80 1.48 3.20 1.73

276 CHEMOS -10.04 -2.53 0.18 0.35 0.19

277 ENEA -10.05 -2.49 14.11 18.99 15.73


50

WSE Main List


Price

low high end


278 MOSTALZAB -10.94 -3.45 0.80 1.84 1.14

279 TIM -11.19 -3.73 4.52 9.43 5.22

280 ATREM -11.36 -3.91 3.15 8.90 3.90

281 FASTFIN -11.63 -4.21 0.30 0.56 0.38

282 JUPITER -12.00 -4.59 0.56 1.39 0.66

283 PRIMAMODA -12.20 -4.83 3.60 8.24 3.60

284 INDYKPOL -12.28 -4.91 34.80 47.51 35.70

285 BIPROMET -12.29 -4.92 4.20 8.67 6.30

286 UNIBEP -13.00 -5.69 3.56 6.39 5.05

287 TRAKCJA -13.24 -5.97 0.55 1.53 0.59

288 MEDIATEL -13.43 -6.16 0.88 2.56 1.16

289 EUCO -13.53 -6.27 7.00 15.09 10.14

290 ZYWIEC -13.74 -6.49 421.60 584.00 426.00

291 ORZBIALY -14.29 -7.09 12.26 27.49 15.77

292 PROCHNIK -14.29 -7.10 0.16 0.35 0.24

293 CEZ -14.34 -7.15 100.10 141.50 110.00

294 IZOLACJA -15.00 -7.84 0.57 1.23 0.68

295 NORTCOAST -15.00 -7.95 0.32 0.63 0.34

296 KOPEX -15.71 -8.63 15.30 26.00 17.70

297 MNI -16.00 -8.93 1.33 2.72 1.47

298 CITYINTER -16.07 -9.02 16.56 31.39 24.34

299 WORKSERV -16.22 -9.18 4.22 7.59 5.65

300 PERMEDIA -16.52 -9.50 5.26 9.25 5.66

301 MEWA -16.67 -9.57 0.18 0.40 0.25

302 QUANTUM -16.92 -9.94 5.00 9.00 5.19

303 ARCTIC -17.21 -10.26 4.47 8.13 5.86

304 ERG -17.39 -10.37 0.33 0.68 0.38

305 OPONEO.PL -17.39 -10.45 6.60 10.88 7.00

306 LIBRA -19.21 -12.43 1.35 23.88 1.64

307 NETIA -19.25 -12.47 4.21 6.75 4.28

308 ALMA -19.40 -12.63 26.26 36.49 27.00

309 SYGNITY -19.68 -12.93 10.84 23.50 14.45

310 LSISOFT -19.72 -12.97 2.48 4.45 2.85

311 CCENERGY -20.00 -13.25 0.17 0.35 0.20

312 STALPROD -20.00 -13.28 155.00 295.00 184.00

313 PBSFINANSE -20.75 -14.08 0.36 0.69 0.42

314 MOSTALWAR -21.56 -14.97 11.13 22.96 12.55


51

Fact Book 2013


Price

low high end


315 TPSA -22.32 -15.80 11.56 18.08 12.23

316 KDMSHIPNG -22.53 -16.02 23.00 34.80 25.10

317 CORMAY -22.94 -16.47 8.16 17.40 12.93

318 DGA -23.16 -16.70 1.16 2.39 1.36

319 POLNORD -23.53 -17.11 9.67 19.89 10.40

320 SFINKS -23.58 -17.16 0.78 2.14 0.94

321 KOELNER -24.45 -18.10 8.02 13.95 8.80

322 JWCONSTR -25.05 -18.75 3.22 8.56 4.04

323 MUZA -25.16 -18.87 3.20 5.63 3.48

324 WILBO -25.81 -19.59 0.09 1.06 0.46

325 POLAQUA -25.93 -19.70 3.20 8.51 3.40

326 TRANSPOL -26.84 -20.69 5.07 12.00 5.78

327 SOBIESKI -27.01 -20.88 141.00 368.50 154.00

328 PLAZACNTR -27.69 -21.61 1.31 3.07 1.41

329 ULMA -28.10 -22.06 37.10 74.80 43.85

330 06MAGNA -28.13 -22.21 0.21 0.46 0.23

331 KONSSTALI -28.36 -22.34 23.20 43.00 24.85

332 EUROHOLD -28.57 -22.57 2.00 3.75 2.30

333 HELIO -28.92 -22.95 4.30 9.80 5.21

334 BLACKLION -28.97 -23.03 0.58 1.63 0.76

335 PROCAD -29.60 -23.67 0.88 1.74 0.88

336 BUDVARCEN -30.17 -24.29 1.50 2.91 1.69

337 KOMPAP -30.58 -24.75 5.70 8.75 5.97

338 MIDAS -30.76 -24.96 0.49 1.42 0.65

339 HERKULES -30.81 -25.04 0.16 1.37 1.28

340 ORCOGROUP -30.94 -25.14 5.90 19.85 10.00

341 COMPLEX -31.67 -25.92 0.87 2.14 0.88

342 MIRBUD -31.67 -25.92 0.87 2.71 1.23

343 NEWWORLDR -31.90 -26.18 11.00 29.50 15.80

344 COGNOR -32.92 -27.29 2.06 4.42 2.18

345 BOS -33.35 -27.75 27.01 55.00 30.00

346 GINOROSSI -34.42 -28.92 0.89 2.00 0.98

347 IVMX -34.70 -29.21 4.21 8.50 4.95

348 WANDALEX -35.03 -29.57 0.87 2.64 1.20

349 TRAVELPL -35.75 -30.35 5.47 9.69 6.20

350 NORDEABP -35.96 -30.58 23.05 37.50 24.90

351 DRAGOWSKI -36.21 -30.85 0.36 0.91 0.37

352 SOPHARMA -36.29 -30.94 3.50 7.77 4.00


52

WSE Main List


Price

low high end


353 SANWIL -36.36 -31.06 0.19 0.60 0.21

354 BAKALLAND -36.71 -31.39 2.26 5.14 2.69

355 DMWDM -36.84 -31.51 0.22 0.50 0.24

356 MIT -38.18 -33.01 0.33 1.00 0.34

357 ECARD -38.46 -33.28 0.15 0.29 0.16

358 PETROLINV -38.86 -33.73 0.95 3.16 1.40

359 DUDA -39.06 -33.95 0.35 0.91 0.39

360 LIBET -39.15 -34.05 1.75 4.74 1.98

361 GANT -39.53 -34.45 2.59 9.98 3.90

362 ADVADIS -40.00 -34.51 0.03 0.11 0.03

363 BNPPL -41.00 -36.05 44.00 87.80 50.00

364 ESTAR -41.31 -36.38 85.10 130.50 85.10

365 MAKARONPL -41.73 -36.83 1.95 4.15 2.15

366 IQP -41.99 -37.12 0.66 2.39 1.05

367 DELKO -43.16 -38.39 1.78 5.80 2.16

368 KRUSZWICA -43.17 -38.40 23.00 66.15 28.40

369 KSGAGRO -43.41 -38.66 8.81 24.50 11.60

370 REMAK -43.93 -39.21 14.20 35.00 16.20

371 EUIMPLANT -44.44 -39.82 0.07 0.29 0.10

372 FON -44.44 -39.95 0.09 0.33 0.10

373 TUP -44.86 -40.22 1.80 5.00 1.93

374 INVESTCON -44.89 -40.25 0.72 2.25 0.97

375 NOKAUT -45.08 -40.47 5.80 12.78 6.59

376 SEKO -45.08 -40.47 2.24 7.10 3.35

377 AGROTON -46.24 -41.72 7.29 24.40 10.00

378 IFCAPITAL -46.27 -41.73 0.29 14.97 0.36

379 TALEX -47.60 -43.19 4.70 10.50 5.13

380 MOSTALEXP -47.76 -43.38 0.34 0.87 0.35

381 MOBRUK -47.92 -43.54 47.70 99.00 50.00

382 TESGAS -48.53 -44.20 2.67 8.80 3.32

383 BUMECH -48.63 -44.31 6.00 14.15 6.19

384 DROZAPOL -48.67 -44.35 0.76 1.87 0.77

385 BOWIM -50.24 -46.05 3.90 14.99 4.23

386 ATMSI -51.42 -47.34 1.04 2.65 1.23

387 ELKOP -51.85 -47.79 0.13 0.42 0.13

388 POLCOLORIT -52.94 -49.09 0.08 0.24 0.08

389 BBIZENNFI -53.85 -49.94 0.13 0.69 0.18

390 ROVESE -55.01 -51.23 1.29 5.85 1.42


53

Fact Book 2013


Price

low high end


391 COALENERG -55.67 -51.95 9.25 29.00 9.53

392 IGROUP -56.52 -52.83 0.18 0.70 0.20

393 INTERBUD -56.68 -53.04 2.64 7.80 2.86

394 SOLAR -56.92 -53.30 5.34 14.18 5.60

395 VINDEXUS -57.22 -53.63 2.50 8.18 2.99

396 POINTGROUP -57.38 -53.80 0.09 0.70 0.26

397 EFH -58.14 -54.62 0.16 0.73 0.18

398 CEDC -58.94 -55.49 4.60 20.59 6.20

399 B3SYSTEM -60.00 -56.63 0.46 1.75 0.62

400 GETIN -60.00 -56.64 1.43 7.38 2.82

401 IDEATFI -60.38 -57.05 1.33 6.79 1.47

402 BYTOM -61.54 -58.29 0.25 0.81 0.25

403 POLIMEXMS -61.66 -58.43 0.46 2.09 0.62

404 BUDOPOL -62.34 -59.15 0.24 0.97 0.29

405 RUBICON -62.96 -59.85 0.20 0.68 0.20

406 MISPOL -64.15 -61.14 0.70 3.80 1.14

407 AWBUD -64.37 -61.37 0.51 1.99 0.62

408 NOVAKBM -65.49 -62.59 3.70 15.81 4.97

409 POLJADLO -66.07 -63.25 0.17 0.77 0.19

410 REGNON -66.67 -63.73 0.03 0.18 0.03

411 REDAN -66.80 -64.01 0.83 3.42 0.85

412 TRITON -67.71 -65.01 1.02 3.85 1.13

413 PCCINTER -67.92 -65.22 1.34 4.98 1.45

414 PBOANIOLA -68.75 -66.13 0.96 5.11 1.00

415 ATLANTIS -71.11 -68.69 0.11 0.60 0.13

416 ATLANTAPL -71.70 -69.32 3.00 13.80 3.15

417 VANTAGE -72.25 -69.91 0.99 2.24 1.31

418 CELTIC -74.23 -72.06 3.50 19.38 4.51

419 MIRACULUM -74.42 -72.28 0.11 0.70 0.11

420 SADOVAYA -74.94 -72.84 1.35 10.90 2.07

421 WESTAISIC -75.25 -73.18 0.42 4.50 0.74

422 REINHOLD -75.65 -73.62 0.24 1.99 0.28

423 MEXPOLSKA -76.50 -74.52 2.25 10.89 2.35

424 JHMDEV -77.46 -75.58 0.21 1.44 0.32

425 PLASTBOX -78.28 -76.46 1.93 12.94 2.45

426 08OCTAVA -78.81 -77.02 0.55 3.95 0.71

427 DSS -83.26 -81.85 0.91 10.30 1.17

428 IDMSA -83.72 -82.37 0.16 2.21 0.21


54

WSE Main List


Price

low high end


429 INTAKUS -84.17 -82.84 0.12 1.40 0.22

430 ENERGOPLD -86.10 -84.93 0.16 2.41 0.26

431 ABMSOLID -89.38 -88.49 0.11 4.75 0.17

432 BOMI -89.75 -88.89 0.17 3.23 0.19

433 EUROMARK -91.51 -90.79 0.06 2.39 0.09

434 PBG -92.56 -91.94 3.25 85.80 5.28

435 ONE2ONE -93.64 -93.09 0.14 3.46 0.14

436 ALTERCO -95.26 -94.86 0.66 47.98 2.13

437 HBPOLSKA -97.26 -97.04 0.01 1.47 0.02

Shares with highest monthly returns in 2012, by month

Months Company Return (%)

(PLN) (EUR)

January HERMAN 264.18 280.49

February WISTIL 157.13 164.74

March RESBUD 422.09 422.26

April BGZ 57.28 56.89

May DREWEX 134.48 122.88

June ANTI 180.26 187.57

July INTERBUD 51.61 57.23

August WILBO 94.44 92.41

September WESTAISIC 137.78 141.73

October ALTERCO 238.75 236.97

November AVIASG 58.92 60.03

December MISPOL 56.16 57.37


55

Fact Book 2013

Shares with highest monthly returns in 2012

No. Shares MonthReturn (%)

(PLN) (EUR)

1 RESBUD March 422.09 422.26 2 HERMAN January 264.18 280.49

3 ALTERCO October 238.75 236.97

4 ANTI June 180.26 187.57

5 WISTIL February 157.13 164.74

6 INTERSPPL February 139.52 146.62

7 WESTAISIC September 137.78 141.73

8 DREWEX May 134.48 122.88

9 NTTSYSTEM January 106.98 116.22

10 EUROMARK February 99.00 104.90

11 BEST March 96.23 96.29

12 PCCEXOL October 94.98 93.95

13 WILBO August 94.44 92.41

14 ZASTAL October 93.14 92.17

15 TRAKCJA January 91.18 99.68

16 HERMAN February 91.09 96.75

17 STAPORKOW February 87.94 93.51

18 WARFAMA March 84.44 84.51

19 BIOTON January 83.33 91.18

20 POINTGROUP October 80.00 79.01

21 ANTI August 79.78 77.97

22 BEST October 78.57 77.65

23 PEMUG March 77.89 77.96

24 ENERGOPLD October 72.73 71.78

25 YAWAL January 68.45 76.02

26 SKYLINE January 66.67 74.14

27 PRONOX February 66.67 72.04

28 ATREM January 65.91 73.36

29 RESBUD February 63.23 68.06

30 IFCAPITAL March 62.72 62.78

31 SIMPLE February 62.50 67.30

32 ODLEWNIE January 61.60 68.87

33 PCGUARD October 59.57 58.77

34 AVIASG November 58.92 60.03

35 POLIMEXMS September 57.69 60.34

36 PETROLINV October 57.48 56.69

37 BGZ April 57.28 56.89

38 MISPOL December 56.16 57.37

39 SELENAFM January 56.04 63.04

40 IQP September 55.71 58.40

No. Shares MonthReturn (%)

(PLN) (EUR)

41 ORCOGROUP October 54.09 53.30

42 ONE2ONE August 53.85 52.23

43 EMCINSMED October 53.63 52.84

44 FOTA January 53.03 59.90

45 ASBIS January 52.56 59.40

46 INTERBUD July 51.61 57.23

47 URSUS August 51.11 49.57

48 B3SYSTEM October 50.91 50.11

49 SFINKS January 50.41 57.16

50 AMPLI February 50.37 54.80

51 WISTIL January 48.15 54.80

52 PRIMAMODA March 47.39 47.44

53 NFIEMF December 47.35 48.50

54 KOMPUTRON January 47.20 53.81

55 WISTIL March 47.06 47.11

56 ABMSOLID January 46.88 53.44

57 CALATRAVA August 46.43 44.97

58 OTMUCHOW January 46.23 52.80

59 ATLASEST September 46.15 48.66

60 EKO October 44.26 43.52

61 ZAMET May 43.89 36.79

62 ZASTAL September 43.66 46.08

63 CASHFLOW January 43.54 49.98

64 WILBO November 43.33 44.21

65 POLJADLO July 43.33 48.72

66 FERRO February 43.11 47.35

67 SELENAFM November 43.05 44.05

68 BBICAPNFI February 43.04 47.28

69 EDINVEST January 42.86 49.27

70 MONNARI January 42.68 49.06

71 SKOTAN June 41.78 45.48

72 ESSYSTEM June 41.76 45.48

73 EDINVEST March 41.71 41.76

74 ABMSOLID December 41.67 42.81

75 POLAQUA February 41.21 45.39

76 OVOSTAR January 41.04 47.38

77 JWCONSTR January 41.00 47.34

78 VISTULA January 40.74 47.06

79 EKOEXPORT March 40.72 40.77

80 WARIMPEX January 40.68 47.00

56

WSE Main List

No. Company General Meeting

date(dd.mm.yy)

Record date

(dd.mm.yy)

Dividend per share

(PLN)*

1 PULAWY 19.12.11 31.01.12 3.662 NEWWORLDR 22.02.12 30.03.12 0.293 NEWWORLDN 22.02.12 30.03.12 0.294 SOLAR 24.02.12 24.02.12 0.655 MCLOGIC 19.03.12 04.02.12 2.506 ACAUTOGAZ 27.03.12 13.04.12 2.387 SYNTHOS 28.03.12 04.12.12 0.508 TVN 30.03.12 16.04.12 0.109 CENTKLIMA 05.04.12 23.04.12 0.5010 IDEATFI 10.04.12 20.04.12 0.4311 KRAKCHEM 10.04.12 29.06.12 0.3512 4FUNMEDIA 11.04.12 27.04.12 1.7513 RADPOL 11.04.12 07.11.12 0.4714 TPSA 12.04.12 21.06.12 1.5015 ASSECOSEE 12.04.12 07.02.12 0.3616 NOWAGALA 16.04.12 05.07.12 0.0717 NEUCA 16.04.12 05.07.12 2.6018 ZYWIEC 18.04.12 05.09.12 24.0019 TALEX 18.04.12 21.05.12 0.2020 ASSECOBS 18.04.12 14.05.12 0.9621 ASSECOSLO 19.04.12 24.04.12 2.7822 IVMX 24.04.12 31.05.12 0.2723 TAURONPE 24.04.12 07.02.12 0.3124 WAWEL 24.04.12 24.05.12 11.0025 PWRMEDIA 25.04.12 18.05.12 0.0726 ASSECOPOL 25.04.12 17.05.12 2.1927 QUERCUS 25.04.12 15.06.12 0.2028 ARMATURA 25.04.12 29.06.12 0.2029 BUDIMEX 26.04.12 15.05.12 10.9730 MOL 26.04.12 15.06.12 6.5931 ELBUDOWA 26.04.12 25.07.12 4.0032 ACTION 27.04.12 17.05.12 0.8433 BOGDANKA 27.04.12 18.05.12 4.0034 ORZBIALY 27.04.12 28.05.12 0.7535 STAPORKOW 07.05.12 08.02.12 0.5536 EUROTEL 08.05.12 21.05.12 1.5037 LENA 08.05.12 30.05.12 0.1538 PELION 09.05.12 24.05.12 1.5039 ESSYSTEM 09.05.12 07.02.12 0.1040 IZOSTAL 10.05.12 08.10.12 0.1741 BZWBK 10.05.12 24.05.12 8.0042 DECORA 11.05.12 23.07.12 0.3043 BIPROMET 11.05.12 16.07.12 0.25


date(dd.mm.yy)

Record date

(dd.mm.yy)

Dividend per share

(PLN)*

44 KINOPOL 14.05.12 29.05.12 1.0045 EMPERIA 15.05.12 30.05.12 56.4146 QUANTUM 17.05.12 06.11.12 0.3547 TERESA 22.05.12 06.05.12 1.1448 UNIBEP 22.05.12 07.06.12 0.1249 FERRO 23.05.12 06.12.12 0.3050 DOMDEV 23.05.12 06.12.12 1.5051 KONSSTALI 23.05.12 26.07.12 2.0052 ENELMED 24.05.12 16.07.12 0.0353 EKOEXPORT 25.05.12 06.05.12 0.2054 BSCDRUK 25.05.12 06.06.12 0.5055 FORTUNA 25.05.12 06.08.12 0.9956 KOELNER 25.05.12 29.06.12 0.3357 VOTUM 28.05.12 06.12.12 0.3658 ELEKTROTI 28.05.12 06.12.12 1.0059 SONEL 29.05.12 20.06.12 0.4060 KETY 29.05.12 07.12.12 5.0061 POLMED 29.05.12 16.07.12 0.0362 INDYKPOL 29.05.12 16.08.12 0.4863 PGE 30.05.12 22.08.12 1.8364 PZU 30.05.12 30.08.12 22.4365 WADEX 30.05.12 07.09.12 0.3066 APLISENS 30.05.12 18.06.12 0.2567 PRAGMAFA 30.05.12 14.06.12 1.6668 ROBYG 31.05.12 06.11.12 0.1269 BENEFIT 31.05.12 20.06.12 6.0070 JSW 31.05.12 07.06.12 5.3871 KRUSZWICA 31.05.12 31.07.12 0.9872 PEKAO 01.06.12 19.06.12 5.3873 DEBICA 04.06.12 08.03.12 3.2974 RAFAMET 05.06.12 09.03.12 0.4475 INPRO 05.06.12 07.03.12 0.2076 PKOBP 06.06.12 06.12.12 1.2777 WIELTON 06.06.12 08.03.12 0.2078 STALPROFI 06.06.12 09.05.12 0.2779 COMPLEX 11.06.12 29.06.12 0.0880 PRAGMAINK 11.06.12 07.02.12 0.8481 ZAMET 11.06.12 29.06.12 0.1882 BERLING 13.06.12 29.06.12 0.2083 WANDALEX 14.06.12 29.06.12 0.1284 UNIMA 14.06.12 14.08.12 0.2385 ORBIS 14.06.12 16.07.12 1.4086 ENERGOINS 14.06.12 09.07.12 0.25

Dividends paid by listed companies in 2012

57

Fact Book 2013


date(dd.mm.yy)

Record date

(dd.mm.yy)

Dividend per share

(PLN)*

87 SNIEZKA 15.06.12 07.04.12 1.3588 EUROCASH 15.06.12 07.02.12 0.1889 PEGAS 15.06.12 19.10.12 4.3290 APATOR 18.06.12 07.06.12 0.7591 SOPHARMA 19.06.12 07.03.12 0.1592 PRESCO 19.06.12 29.06.12 0.1693 MEGARON 20.06.12 29.06.12 0.8094 EUCO 20.06.12 14.09.12 0.4895 HANDLOWY 20.06.12 07.05.12 2.7696 ZPUE 20.06.12 07.04.12 6.4097 EDINVEST 20.06.12 07.11.12 0.1598 SKOK 20.06.12 07.02.12 0.0299 ARTERIA 21.06.12 17.10.12 0.23100 BEDZIN 21.06.12 07.09.12 1.80101 LIBET 21.06.12 07.12.12 0.40102 EFEKT 22.06.12 20.09.12 0.55103 ULMA 22.06.12 21.08.12 2.66104 FORTE 22.06.12 19.07.12 0.75105 AGORA 22.06.12 16.07.12 1.00106 MIRBUD 22.06.12 20.09.12 0.10107 IMPEL 23.06.12 14.08.12 1.50108 HYDROTOR 23.06.12 30.08.12 1.25109 ZELMER 25.06.12 08.10.12 1.95110 COMARCH 25.06.12 31.07.12 1.50111 KOFOLA 25.06.12 25.09.12 0.89112 LPP 25.06.12 09.05.12 77.36113 FASING 25.06.12 30.08.12 0.60114 SANOK 26.06.12 30.08.12 0.64115 OPONEO.PL 26.06.12 31.08.12 0.20116 CEZ 26.06.12 07.02.12 7.48117 INTROL 26.06.12 23.07.12 0.31118 RELPOL 26.06.12 07.12.12 0.20


date(dd.mm.yy)

Record date

(dd.mm.yy)

Dividend per share

(PLN)*

119 ZETKAMA 26.06.12 27.07.12 1.00120 KOGENERA 26.06.12 14.08.12 4.41121 DROP 27.06.12 16.07.12 1.20122 GPW 27.06.12 07.06.12 1.44123 INTERCARS 28.06.12 17.07.12 0.30124 ARCTIC 28.06.12 31.07.12 0.18125 ATMSI 28.06.12 07.09.12 0.07126 CHEMOS 28.06.12 23.07.12 0.01127 KGHM 28.06.12 16.07.12 28.34128 SIMPLE 28.06.12 31.08.12 0.23129 NOVITA 28.06.12 31.07.12 2.90130 IPOPEMA 28.06.12 07.06.12 0.52131 OPENFIN 28.06.12 28.09.12 0.27132 ENEA 29.06.12 13.08.12 0.48133 ATMGRUPA 29.06.12 27.07.12 0.12134 ABCDATA 29.06.12 14.09.12 0.16135 INTERBUD 29.06.12 07.06.12 0.29136 CCC 29.06.12 27.09.12 1.60137 TIM 29.06.12 25.07.12 0.60138 TATRY 30.06.12 30.06.12 4.09139 KDMSHIPNG 30.06.12 30.06.12 2.54140 SILVANO 30.06.12 13.07.12 1.05141 KOMPUTRON 20.08.12 13.09.12 0.36142 ZAMET 21.08.12 09.12.12 0.20143 NEWWORLDN 22.08.12 09.07.12 0.25144 NEWWORLDR 22.08.12 09.07.12 0.25145 NEWWORLDN 20.09.12 27.09.12 0.04146 MEGARON 27.09.12 23.10.12 0.38147 BETACOM 27.09.12 10.10.12 0.60148 AMBRA 03.10.12 10.12.12 0.40149 ZYWIEC 11.10.12 29.11.12 4.00150 APATOR 23.10.12 12.06.12 0.40

No. Company Trading dates (dd.mm.yy)

1 CPENERGIA-PDA 15.12.11 - 17.02.122 ROVESE-PDA 5.01.12 - 20.04.123 EMCINSMED-PDA 14.03.12 - 22.08.124 NOKAUT-PDA 14.03.12 - 10.04.125 MIDAS-PDA 30.03.12 - 4.05.12


6 WORKSERV-PDA 26.04.12 - 23.05.127 BOS-PDA 4.05.12 - 29.06.128 HARPER-PDA 14.05.12 - 12.6.129 BARLINEK-PDA 4.06.12 - 7.09.1210 SIMPLE-PDA 15.06.12 - 23.08.12

Rights to shares (PDA) traded in 2012

* For foreign companies, the dividend was converted at the National Bank of Poland’s average rate on the record date.

** Advance dividend.

Dividends paid by listed companies in 2012 (contd.)

58

WSE Main List


11 GTC-PDA 6.07.12 - 24.08.1212 EUIMPLANT-PDA 23.07.12 - 25.09.1213 PCCEXOL-PDA 3.08.12 - 19.09.1214 TRANSPOL-PDA 13.08.12 - 30.08.1215 GINOROSSI-PDA 16.08.12 - 15.11.1216 VISTULA-PDA 22.08.12 - 5.10.1217 FON-PDA 6.09.12 - 30.11.12


18 IMPEL-PDA 28.09.12 - 23.10.1219 GETINOBLE-PDA 12.10.12 - 29.11.1220 GETINOBLE-PDAJ 26.10.12 - 29.11.1221 ALIOR-PDA 14.12.12 - 4.01.1322 URSUS-PDA 20.12.1222 CZTOREBKA-PDA 28.12.12

Rights to shares (PDA) by trading value in 2012

No. Company Ticker Turnover value

Share in turnover

(%)

Annual turnover ratio (%)

Average volume per

session

Average number of tran-

sactions per session

Average number

of orders per ses-

sion

Turnover in block

trades

Number of block

trades

(PLN million) (%) (%) (shares) (PLN million)

1 GTC-PDA GTCA 39.6 36.97 6.40 182 373 55 480 0.1 1

2 MIDAS-PDA MDSA 34.2 31.98 3.66 1 960 019 202 833 0.1 1

3 BOS-PDA BOSA 7.6 7.06 5.80 5 342 44 330 5.7 2

4 ALIOR-PDA ALRA 7.0 6.50 46.44 14 144 17 53 320.0 1

5 WORKSERV-PDA WSEA 4.5 4.18 13.64 32 128 25 79 1.0 1

6 ROVESE-PDA RSEA1 2.2 2.06 0.83 6 076 18 95

7 CZTOREBKA-PDA CZTA 2.2 2.02 7.20 193 560 929 3 529

8 NOKAUT-PDA NOKA 2.1 2.00 10.49 9 911 22 167

9 PCCEXOL-PDA PCXA 1.8 1.67 11.03 33 066 38 109

10 GETINOBLE-PDAJ GNBAJ 1.4 1.34 0.45 37 475 24 106

11 FON-PDA FONA 1.3 1.19 174.61 50 092 11 55

12 SIMPLE-PDA SMEA 0.7 0.61 3.93 2 883 6 25

13 GINOROSSI-PDA GRIA 0.7 0.61 7.06 9 627 3 22

14 URSUS-PDA URSA 0.6 0.51 4.20 42 037 74 308

15 BARLINEK-PDA BRKA 0.5 0.45 0.56 9 030 4 47

16 IMPEL-PDA IPLA 0.3 0.32 1.68 667 0 6

17 GETINOBLE-PDA GNBA 0.3 0.31 0.34 5 951 9 68

18 HARPER-PDA HRPA 0.1 0.13 0.57 3 411 0 1

19 VISTULA-PDA VSTA 0.1 0.06 0.32 2 159 2 31

20 EMCINSMED-PDA EMCA 0.0 0.02 0.09 17 0 5

21 CPENERGIA-PDA CPEA 0.0 0.02 0.16 888 1 13

22 EUIMPLANT-PDA EUIA 0.0 0.01 1.46 1 671 0 13

23 TRANSPOL-PDA TRNA 0.0 0.00 0.00 0 0

Rights to shares (PDA) traded in 2012 (contd.)

59

Fact Book 2013

Pre-emptive rights traded in 2012

No. ISIN Instrument Record date (dd.mm.yy)

Ratio per new

share

Trading dates (dd.mm.yy)

1 IT0004781446 UNICREDIT-PP 11.01.12 0.50 12.01.12 - 20.01.12

2 PLNFI0900089 MIDAS-PP 15.02.12 0.25 20.02.12 - 27.02.12

3 PLSIMPL00136 SIMPLE-PP 20.02.12 1.00 27.04.12 - 11.05.12

4 PLBRLNK00090 BARLINEK-PP 16.04.12 1.33 02.05.12 - 09.05.12

5 PLERPLT00066 EUIMPLANT-PP 23.04.12 2.00 30.05.12 - 12.06.12

6 PLGTC0000110 GTC-PP 04.06.12 2.17 05.06.12 - 11.06.12

7 PLGNRSI00049 GINOROSSI-PP 02.07.12 2.00 03.07.12 - 10.07.12

8 PLVSTLA00052 VISTULA-PP 05.07.12 5.00 17.07.12 - 26.07.12

9 PLGETBK00061 GETINOBLE-PPK 07.09.12 39.84 10.09.12 - 14.09.12

10 PLGETBK00053 GETINOBLE-PPJ 07.09.12 11.95 10.09.12 - 14.09.12

11 PLPMWRM00046 URSUS-PP 16.11.12 5.56 19.11.12 - 23.11.12

12 PLCRSNT00136 ROVESE-PP 23.11.12 0.50 26.11.12 - 30.11.12

No. Company No. of sharesMarket

value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

Domestic companies

1 PKOBP 1 250 000 000 46 125.00 8.81 1.94 12.1 3.4

2 PEKAO 262 465 864 43 963.03 8.40 1.96 14.7 3.2

3 KGHM 200 000 000 38 000.00 7.26 1.81 5.1 14.9

4 PZU 86 352 300 37 735.96 7.21 2.73 11.3 5.1

5 PGE 1 869 760 829 34 048.34 6.51 0.82 6.2 10.0

6 PGNIG 5 900 000 000 30 739.00 5.87 1.26 86.1 ---

7 PKNORLEN 427 709 061 21 171.60 4.05 0.73 6.5 ---

8 BZWBK 74 637 631 18 054.84 3.45 2.15 14.7 3.2

9 TPSA 1 335 649 021 16 334.99 3.12 1.26 14.1 12.1

10 BRE 42 138 976 13 737.31 2.62 1.50 11.3 ---

11 HANDLOWY 130 659 600 12 843.84 2.45 1.84 13.6 2.8

12 INGBSK 130 100 000 11 839.10 2.26 1.59 13.8 ---

13 JSW 117 411 596 10 848.83 2.07 1.23 5.4 5.8

14 LPP 1 831 123 8 331.61 1.59 7.83 24.9 1.7

Companies by market value (end of 2012)

60

WSE Main List


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

15 TAURONPE 1 752 549 394 8 324.61 1.59 0.49 5.5 6.5

16 SYNTHOS 1 323 250 000 7 158.78 1.37 2.55 9.7 9.2

17 ENEA 441 442 578 6 943.89 1.33 0.64 9.7 3.1

18 EUROCASH 137 976 536 6 029.57 1.15 9.11 32.9 0.4

19 CYFRPLSAT 348 352 836 5 716.47 1.09 2.43 10.3 ---

20 MILLENNIUM 1 213 116 777 5 361.98 1.02 1.15 11.4 ---

21 LOTOS 129 873 362 5 350.78 1.02 0.61 6.8 ---

22 GETINOBLE 2 650 143 319 4 743.76 0.91 1.09 x ---

23 BOGDANKA 34 013 590 4 625.85 0.88 2.03 11.3 2.9

24 KREDYTB 271 658 880 4 482.37 0.86 1.32 16.4 ---

25 ZYWIEC 10 271 337 4 375.59 0.84 13.69 14.9 6.6

26 ASSECOPOL 83 000 303 3 764.06 0.72 0.53 9.8 4.5

27 BANKBPH 76 667 911 3 748.29 0.72 0.80 15.0 ---

28 AZOTYTARNOW 64 115 444 3 455.82 0.66 1.00 7.0 ---

29 TVN 343 876 421 3 411.25 0.65 3.82 118.8 1.0

30 ALIOR 51 250 000 3 210.81 0.61 2.21 10.9 ---

31 GTC 319 372 990 3 161.79 0.60 0.97 x ---

32 BGZ 51 136 764 2 804.85 0.54 0.84 26.7 ---

33 CCC 38 400 000 2 803.20 0.54 5.77 22.1 2.2

34 PULAWY 19 115 000 2 628.31 0.50 1.05 4.9 2.7

35 FAMUR 481 500 000 2 296.76 0.44 2.63 9.3 ---

36 ECHO 420 000 000 2 121.00 0.41 1.02 30.2 ---

37 GETIN 732 800 434 2 066.50 0.39 1.09 3.3 ---

38 AMREST 21 213 893 2 040.78 0.39 1.98 50.0 ---

39 BUDIMEX 25 530 098 1 787.11 0.34 5.53 12.4 15.7

40 NFIEMF 105 676 378 1 759.51 0.34 3.05 352.8 ---

41 ORBIS 46 077 008 1 750.93 0.33 0.91 24.9 3.7

42 NETIA 386 280 904 1 653.28 0.32 0.68 6.5 ---

43 GPW 41 972 000 1 631.45 0.31 3.04 15.0 3.7

44 ZEPAK 52 026 000 1 480.14 0.28 0.42 4.3 ---

45 BNPPL 28 692 926 1 434.65 0.27 0.84 53.2 ---

46 BORYSZEW 2 256 715 692 1 399.16 0.27 1.13 12.8 ---

47 NORDEABP 55 498 700 1 381.92 0.26 0.62 9.1 ---

48 KETY 9 225 663 1 336.80 0.26 1.32 10.3 3.5

49 KOPEX 74 332 538 1 315.69 0.25 0.53 15.5 ---

50 KOGENERA 14 900 000 1 288.85 0.25 1.21 12.0 5.1

Companies by market value (end of 2012) (contd.)

61

Fact Book 2013


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

51 STALPROD 6 725 000 1 237.40 0.24 0.78 12.2 ---

52 INTERCARS 14 168 100 1 218.46 0.23 1.66 12.6 0.3

53 WAWEL 1 499 755 1 196.80 0.23 4.11 18.6 1.4

54 MENNICA 51 832 136 1 174.52 0.22 2.20 12.5 ---

55 CIECH 52 699 909 1 169.94 0.22 1.25 x ---

56 INTEGERPL 5 937 745 1 095.51 0.21 5.82 18.5 ---

57 APATOR 33 107 028 1 080.28 0.21 3.60 11.7 2.3

58 ALCHEMIA 207 000 000 1 035.00 0.20 1.65 10.5 ---

59 KREZUS 54 702 992 1 006.54 0.19 15.96 232.2 ---

60 MIDAS 1 479 666 750 961.78 0.18 0.92 x ---

61 POLICE 75 000 000 929.25 0.18 0.95 3.7 ---

62 EMPERIA 15 115 161 875.92 0.17 1.30 1.5 93.3

63 DOMDEV 24 715 272 845.02 0.16 0.98 8.1 4.4

64 DEBICA 13 802 750 841.97 0.16 0.99 9.3 5.4

65 BIOTON 8 386 785 174 838.68 0.16 0.60 x ---

66 FARMACOL 23 400 000 762.61 0.15 0.87 9.9 ---

67 OPENFIN 54 250 000 759.50 0.15 2.39 7.6 1.9

68 KRUK 16 900 340 744.63 0.14 2.58 10.9 ---

69 KOFOLA 26 172 602 719.75 0.14 1.29 20.4 3.2

70 IMPEXMET 200 000 000 700.00 0.13 0.71 10.6 ---

71 BOS 22 873 245 686.20 0.13 0.48 16.3 ---

72 KRUSZWICA 22 986 949 652.83 0.12 1.08 x 3.5

73 GRAJEWO 49 624 000 652.56 0.12 1.12 11.9 ---

74 PCCEXOL 161 227 231 644.91 0.12 3.74 115.4 ---

75 PEP 21 313 967 611.71 0.12 1.22 5.0 ---

76 ZELMER 15 200 000 597.06 0.11 1.97 19.0 5.0

77 COMARCH 8 051 637 591.80 0.11 0.99 11.7 2.0

78 CDRED 94 950 000 588.69 0.11 4.11 32.1 ---

79 RAFAKO 69 600 000 583.94 0.11 1.29 16.4 ---

80 SKOK 191 610 386 555.67 0.11 1.65 127.9 0.2

81 BENEFIT 2 404 842 553.11 0.11 5.99 13.3 2.6

82 SNIEZKA 13 550 676 533.76 0.10 2.58 15.9 3.2

83 AGORA 50 937 386 528.73 0.10 0.44 x 9.6

84 LCCORP 447 558 311 523.64 0.10 0.50 16.9 ---

85 ELBUDOWA 4 747 608 505.62 0.10 1.54 13.6 3.8

86 SANOK 26 518 632 481.31 0.09 1.69 10.7 3.5


62

WSE Main List


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

87 ASSECOSEE 51 894 251 477.43 0.09 0.73 9.0 3.9

88 NEUCA 4 520 963 431.75 0.08 1.34 6.1 2.7

89 AMICA 7 775 273 424.92 0.08 1.06 4.7 ---

90 RANKPROGR 37 183 550 409.76 0.08 0.93 6.8 12.2

91 HAWE 107 237 064 407.50 0.08 1.34 7.4 ---

92 MCI 62 346 627 397.15 0.08 0.71 8.3 ---

93 IMPEL 12 865 177 395.48 0.08 1.50 13.2 4.6

94 CORMAY 30 561 977 395.17 0.08 3.31 24.8 ---

95 ARCTIC 66 144 483 387.61 0.07 0.57 8.8 2.6

96 ROVESE 270 480 053 384.08 0.07 0.24 65.6 ---

97 ATM 36 343 344 377.61 0.07 1.62 27.4 ---

98 SECOGROUP 10 476 210 368.87 0.07 1.49 15.7 ---

99 ROBYG 257 935 500 368.85 0.07 0.67 6.6 8.4

100 ACTION 16 410 000 367.58 0.07 1.51 7.9 3.8

101 PELION 11 900 468 362.96 0.07 0.71 6.0 4.9

102 ASSECOBS 33 418 193 359.25 0.07 1.44 13.6 8.9

103 MARVIPOL 36 923 400 358.16 0.07 1.82 x ---

104 COMP 5 918 188 351.54 0.07 0.93 x ---

105 ZPUE 1 400 000 347.06 0.07 1.66 12.7 2.6

106 STALEXP 247 262 023 346.17 0.07 1.85 28.0 ---

107 EKO 48 616 605 337.89 0.06 1.62 x ---

108 POLIMEXMS 521 154 076 323.12 0.06 0.37 x ---

109 ABPL 16 187 644 314.69 0.06 0.80 6.7 ---

110 COLIAN 143 359 460 312.52 0.06 0.51 21.6 ---

111 LENTEX 63 013 100 308.76 0.06 0.75 11.4 ---

112 CITYINTER 12 650 000 307.90 0.06 5.88 x ---

113 FORTE 23 751 084 306.39 0.06 0.90 9.8 5.8

114 PETROLINV 211 688 918 296.36 0.06 0.37 x ---

115 STALPROFI 17 500 000 293.30 0.06 0.90 12.9 1.6

116 KOELNER 32 560 000 286.53 0.05 0.77 4.7 3.8

117 MAGELLAN 6 514 088 276.85 0.05 1.34 7.7 ---

118 WORKSERV 47 947 996 270.91 0.05 2.42 13.7 1.8

119 POLNORD 25 633 027 266.58 0.05 0.20 8.1 ---

120 IPOPEMA 29 752 122 264.50 0.05 3.63 44.2 5.9

121 ORZBIALY 16 616 629 262.04 0.05 1.05 17.2 4.8

122 ENERGOINS 18 000 000 261.00 0.05 1.95 20.2 1.7


63

Fact Book 2013


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

123 ABCDATA 124 728 308 259.43 0.05 0.97 6.3 7.7

124 WIELTON 60 375 000 256.59 0.05 1.61 9.8 4.7

125 ZAMET 96 300 000 255.20 0.05 2.31 7.4 14.3

126 MOSTALWAR 20 000 000 251.00 0.05 0.61 x ---

127 IZOSTAL 32 744 000 245.58 0.05 1.64 12.3 2.3

128 MERCOR 15 658 535 231.75 0.04 0.88 x ---

129 ACAUTOGAZ 9 453 150 231.60 0.04 2.81 9.3 9.7

130 PTI 14 500 000 231.28 0.04 2.52 5.8 ---

131 ULMA 5 255 632 230.46 0.04 0.75 7.2 8.7

132 WASKO 91 187 500 228.88 0.04 1.27 19.0 1.6

133 BARLINEK 254 047 500 228.64 0.04 0.58 x ---

134 PAGED 15 100 001 228.61 0.04 0.65 7.9 ---

135 KANIA 125 183 380 225.33 0.04 1.71 x ---

136 SKOTAN 54 000 000 220.32 0.04 4.05 x ---

137 JWCONSTR 54 073 280 218.46 0.04 0.44 58.3 ---

138 RADPOL 25 719 752 205.76 0.04 2.31 15.6 5.9

139 AMBRA 25 206 644 203.92 0.04 0.87 13.7 4.9

140 ZETKAMA 4 904 150 202.93 0.04 1.62 6.8 2.4

141 BBIDEVNFI 523 078 250 198.77 0.04 0.76 83.7 ---

142 CCENERGY 954 128 000 190.83 0.04 0.34 x ---

143 CALATRAVA 500 000 000 190.00 0.04 0.66 x ---

144 PANOVA 10 000 000 190.00 0.04 0.73 12.0 2.6

145 APLISENS 13 016 015 188.60 0.04 1.82 14.1 1.7

146 KINOPOL 13 870 000 187.94 0.04 2.97 13.5 7.4

147 FERRUM 24 543 252 182.85 0.03 1.17 28.7 ---

148 SELENAFM 22 834 000 181.30 0.03 0.48 14.1 ---

149 TOYA 75 213 589 180.51 0.03 1.78 9.1 ---

150 MIESZKO 40 866 000 178.18 0.03 1.07 6.8 ---

151 PGODLEW 96 300 000 178.16 0.03 1.08 6.6 ---

152 ERBUD 12 677 956 176.86 0.03 0.73 10.8 ---

153 VOXEL 9 732 600 176.16 0.03 2.11 x ---

154 QUERCUS 71 047 246 174.78 0.03 8.48 14.3 8.1

155 UNIBEP 34 021 684 171.81 0.03 1.02 7.2 2.4

156 SYGNITY 11 886 242 171.76 0.03 0.84 x ---

157 MOSTALZAB 149 130 538 170.01 0.03 0.64 x ---

158 KBDOM 992 685 741 168.76 0.03 0.74 x ---


64

WSE Main List


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

159 BSCDRUK 9 807 516 168.69 0.03 1.06 8.8 2.9

160 SOLAR 30 000 000 168.00 0.03 1.18 4.6 11.6

161 PEKAES 30 520 870 167.86 0.03 0.60 x ---

162 KREDYTIN 12 936 509 165.59 0.03 0.33 11.1 ---

163 EKOEXPORT 10 405 000 154.51 0.03 5.35 22.1 1.3

164 CELTIC 34 231 466 154.38 0.03 0.36 x 2.2

165 ALMA 5 560 990 150.15 0.03 0.55 x ---

166 KONSSTALI 5 897 419 146.55 0.03 0.52 x 7.4

167 MNI 98 946 283 145.45 0.03 0.38 10.2 ---

168 VISTULA 133 861 625 144.57 0.03 0.45 9.9 ---

169 COGNOR 66 222 248 144.36 0.03 0.77 20.8 ---

170 ZUE 22 000 000 143.88 0.03 0.75 9.7 ---

171 PRESCO 19 700 000 143.42 0.03 1.45 7.5 2.2

172 BEST 5 850 001 140.40 0.03 2.12 5.3 ---

173 TRAKCJA 232 105 480 136.94 0.03 0.26 1.2 ---

174 OTMUCHOW 12 748 250 136.41 0.03 1.01 14.8 ---

175 EMCINSMED 8 327 214 132.82 0.03 1.93 67.1 ---

176 ERGIS 39 435 989 131.72 0.03 0.74 x ---

177 FERRO 21 183 332 131.34 0.03 0.74 7.0 4.8

178 INPRO 40 040 000 129.33 0.02 0.73 8.1 6.2

179 INSTALKRK 7 285 500 124.95 0.02 0.72 5.2 ---

180 GRAAL 8 056 485 120.44 0.02 0.40 4.5 ---

181 INTROL 26 638 800 118.54 0.02 1.08 19.3 7.0

182 MOBRUK 2 341 385 117.07 0.02 1.74 27.4 ---

183 TIM 22 199 200 115.88 0.02 0.59 21.4 11.5

184 BERLING 17 500 200 115.50 0.02 1.55 8.0 3.0

185 PCCINTER 77 565 556 112.47 0.02 1.44 x ---

186 NOWAGALA 57 038 073 111.79 0.02 0.54 10.7 3.0

187 INDYKPOL 3 124 500 111.54 0.02 0.68 100.5 1.3

188 HARPER 63 670 000 110.15 0.02 2.42 12.6 ---

189 DUDA 278 002 290 108.42 0.02 0.31 8.1 ---

190 PLASTBOX 44 061 400 107.95 0.02 1.17 25.3 ---

191 ESSYSTEM 42 863 637 107.16 0.02 0.74 38.8 4.0

192 LIBET 50 000 000 99.00 0.02 0.49 9.3 20.2

193 ARMATURA 81 000 000 98.82 0.02 0.47 10.3 16.4

194 OPONEO.PL 13 936 000 97.55 0.02 1.31 24.5 2.9


65

Fact Book 2013


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

195 ENELMED 23 566 900 96.62 0.02 2.05 x 0.7

196 QUMAKSEK 10 375 082 96.59 0.02 1.13 10.3 ---

197 DECORA 11 303 320 96.08 0.02 0.64 8.8 3.5

198 POLAQUA 27 500 100 93.50 0.02 0.45 x ---

199 MIRBUD 75 000 000 92.25 0.02 0.37 6.1 8.1

200 STAPORKOW 4 503 790 92.19 0.02 2.33 21.3 2.7

201 ADVGRUPA 7 000 000 91.84 0.02 3.52 16.1 ---

202 BLACKLION 120 328 705 91.45 0.02 0.22 x ---

203 MEGARON 2 700 000 90.45 0.02 4.66 15.7 3.5

204 ATMGRUPA 86 000 000 87.72 0.02 0.43 x 11.8

205 ELEKTROTI 9 959 159 85.65 0.02 1.01 9.3 11.6

206 HUTMEN 25 596 270 84.21 0.02 0.32 8.4 ---

207 FASING 3 107 249 82.87 0.02 0.72 6.0 2.2

208 BOWIM 19 514 647 82.55 0.02 0.93 x ---

209 MWTRADE 8 384 440 82.17 0.02 1.64 10.5 ---

210 SUWARY 4 615 070 82.10 0.02 1.63 x ---

211 4FUNMEDIA 4 063 500 82.08 0.02 2.43 10.1 8.7

212 POZBUD 23 377 845 79.48 0.02 0.66 9.6 1.5

213 ROPCZYCE 4 605 980 79.22 0.02 0.40 6.3 ---

214 GANT 20 120 000 78.47 0.01 0.12 x ---

215 BEDZIN 3 149 200 78.26 0.01 0.92 6.4 7.2

216 RELPOL 9 609 193 77.45 0.01 1.12 7.4 2.5

217 PROTEKTOR 19 021 600 76.85 0.01 1.38 x ---

218 URSUS 22 180 000 76.74 0.01 1.03 9.7 ---

219 ENERGOPOL 9 090 000 76.72 0.01 1.61 32.5 ---

220 LUBAWA 109 270 000 76.49 0.01 0.39 6.7 ---

221 RAFAMET 4 318 701 76.27 0.01 0.88 26.7 2.5

222 INTERFERI 14 564 200 76.03 0.01 0.71 20.0 ---

223 PBG 14 295 000 75.48 0.01 0.15 x ---

224 MAKRUM 72 862 932 75.05 0.01 0.52 7.2 ---

225 LENA 24 875 050 74.63 0.01 0.89 8.4 5.0

226 VANTAGE 56 763 844 74.36 0.01 0.25 12.2 ---

227 PEPEES 83 000 000 73.87 0.01 0.80 47.1 ---

228 DUON 102 468 553 70.70 0.01 0.39 66.1 ---

229 PRAGMAINK 3 680 000 70.55 0.01 1.23 9.0 4.4

230 GROCLIN 5 500 000 69.63 0.01 0.37 25.3 ---


66

WSE Main List


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

231 SONEL 14 000 000 68.74 0.01 1.13 10.8 8.1

232 WIKANA 167 665 596 67.07 0.01 0.58 3.4 ---

233 JUPITER 99 148 652 65.44 0.01 0.21 x ---

234 EUROTEL 3 748 255 64.84 0.01 1.69 8.4 8.7

235 HYDROTOR 2 398 300 64.61 0.01 0.83 8.6 4.6

236 PAMAPOL 23 166 700 63.48 0.01 0.52 x ---

237 PROCHEM 3 895 000 62.87 0.01 0.50 37.5 ---

238 MCLOGIC 1 888 719 60.44 0.01 2.22 12.0 7.8

239 RAINBOW 14 552 000 60.10 0.01 1.37 28.9 ---

240 KRAKCHEM 10 000 000 59.00 0.01 0.89 6.4 5.9

241 PCGUARD 30 688 591 58.62 0.01 0.93 12.2 ---

242 IVMX 11 834 881 58.58 0.01 0.31 14.9 5.5

243 ARTERIA 4 273 820 57.40 0.01 1.04 7.0 1.7

244 ZASTAL 30 499 539 57.34 0.01 0.56 5.9 ---

245 EUCO 5 600 000 56.78 0.01 2.26 5.1 4.7

246 TELL 5 678 030 56.78 0.01 0.99 6.4 ---

247 NOVITA 2 500 000 56.50 0.01 0.74 10.1 12.6

248 PATENTUS 29 500 000 56.35 0.01 0.65 7.8 ---

249 VOTUM 12 000 000 55.68 0.01 3.32 11.4 7.8

250 HERKULES 43 412 140 55.57 0.01 0.30 10.1 ---

251 IDEON 343 490 781 54.96 0.01 0.31 x ---

252 BAKALLAND 19 970 050 53.72 0.01 0.97 110.8 ---

253 PROJPRZEM 6 024 000 53.01 0.01 0.50 9.0 ---

254 DROP 5 867 703 52.81 0.01 0.90 214.7 13.3

255 NETMEDIA 12 150 000 52.25 0.01 0.80 11.3 ---

256 WOJAS 12 676 658 51.97 0.01 1.11 11.3 ---

257 POLMED 28 350 061 51.88 0.01 1.52 x 1.6

258 KOMPUTRON 9 572 349 51.40 0.01 0.41 8.0 6.7

259 AWBUD 82 429 460 51.11 0.01 0.59 x ---

260 EDINVEST 12 705 054 50.82 0.01 1.08 10.3 3.7

261 KREC 14 882 800 50.60 0.01 1.15 14.0 ---

262 NOKAUT 7 564 000 49.85 0.01 1.92 25.2 ---

263 HYGIENIKA 39 351 624 49.58 0.01 2.12 326.2 ---

264 MIT 145 196 597 49.37 0.01 0.13 2.9 ---

265 ATLANTIS 378 000 000 49.14 0.01 0.20 3.4 ---

266 REMAK 3 000 000 48.60 0.01 1.05 49.3 ---


67

Fact Book 2013


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

267 FAM 31 882 971 46.87 0.01 0.52 31.7 ---

268 GINOROSSI 47 755 329 46.80 0.01 0.70 9.2 ---

269 IDMSA 218 176 856 45.82 0.01 0.24 x ---

270 ATMSI 36 343 344 44.70 0.01 0.83 x 5.7

271 PBSFINANSE 104 520 000 43.90 0.01 1.63 x ---

272 K2INTERNT 2 485 032 42.22 0.01 1.64 15.0 ---

273 MOSTALPLC 2 000 000 42.00 0.01 0.77 x ---

274 PRAGMAFA 2 565 910 41.95 0.01 1.14 7.5 10.2

275 INTERSPPL 13 933 334 41.10 0.01 1.28 x ---

276 ODLEWNIE 20 664 121 40.50 0.01 1.76 6.8 ---

277 JHMDEV 125 000 000 40.00 0.01 0.24 13.9 ---

278 NTTSYSTEM 55 400 000 39.89 0.01 0.33 18.8 ---

279 FOTA 9 416 000 39.55 0.01 0.29 x ---

280 BUMECH 6 378 259 39.48 0.01 0.64 6.3 ---

281 KPPD 1 622 400 39.44 0.01 0.72 8.9 ---

282 BIPROMET 6 199 800 39.06 0.01 0.70 12.2 4.0

283 CHEMOS 200 060 000 38.01 0.01 0.56 35.0 3.9

284 FASTFIN 100 000 000 38.00 0.01 1.18 5.5 ---

285 TESGAS 11 350 000 37.68 0.01 0.51 x ---

286 TRANSPOL 6 380 000 36.88 0.01 1.98 x ---

287 BBICAPNFI 51 400 731 36.49 0.01 0.51 x ---

288 ATREM 9 230 079 36.00 0.01 0.56 x ---

289 MONNARI 31 010 073 35.66 0.01 0.56 9.1 ---

290 WADEX 3 307 282 35.65 0.01 2.49 11.8 2.8

291 SWISSMED 61 182 234 34.87 0.01 1.61 x ---

292 VINDEXUS 11 591 938 34.66 0.01 0.39 6.5 ---

293 FON 337 750 000 33.78 0.01 0.17 19.6 ---

294 CAPITAL 24 440 000 33.48 0.01 0.71 x ---

295 INVESTCON 33 372 396 32.37 0.01 1.04 x ---

296 06MAGNA 139 219 758 32.02 0.01 4.97 x ---

297 TERESA 2 408 077 31.83 0.01 1.86 12.6 8.6

298 SIMPLE 4 380 298 31.67 0.01 2.04 13.1 3.2

299 OPTEAM 7 300 000 31.39 0.01 1.50 15.4 ---

300 MOSTALEXP 89 117 606 31.19 0.01 0.65 x ---

301 08OCTAVA 42 786 848 30.38 0.01 0.47 0.4 ---

302 PEMUG 30 381 625 29.77 0.01 1.05 413.5 ---


68

WSE Main List


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

303 PROCHNIK 122 480 456 29.40 0.01 1.17 x ---

304 TUP 15 212 345 29.36 0.01 0.17 x ---

305 TRITON 25 458 092 28.77 0.01 0.24 x ---

306 ARCUS 7 395 157 28.32 0.01 0.47 8.3 ---

307 KOMPAP 4 680 496 27.94 0.01 0.49 x ---

308 LSTCAPITA 44 310 803 27.92 0.01 0.69 37.3 ---

309 YAWAL 5 193 750 27.79 0.01 0.26 8.2 ---

310 POLNA 2 112 896 27.66 0.01 0.94 10.3 ---

311 POINTGROUP 103 817 025 26.99 0.01 2.52 x ---

312 POLLENAE 2 829 600 26.88 0.01 1.89 x ---

313 EFH 146 600 000 26.39 0.01 0.16 x ---

314 HELIO 5 000 000 26.05 0.00 0.65 30.2 ---

315 HYPERION 12 307 000 25.72 0.00 0.63 x ---

316 BBIZENNFI 139 489 990 25.11 0.00 0.50 x ---

317 ELZAB 16 137 050 24.04 0.00 0.53 324.9 ---

318 DROZAPOL 30 592 750 23.56 0.00 0.38 x ---

319 IQP 22 353 000 23.47 0.00 0.63 x ---

320 IDEATFI 15 831 000 23.27 0.00 1.86 8.6 29.3

321 REDAN 26 938 020 22.90 0.00 0.40 x ---

322 COMPLEX 25 500 000 22.44 0.00 0.27 21.3 9.1

323 SEKO 6 650 000 22.28 0.00 0.49 x ---

324 RUBICON 110 810 206 22.16 0.00 0.29 x ---

325 CAMMEDIA 7 284 500 22.00 0.00 0.71 20.5 ---

326 SFINKS 22 105 626 20.78 0.00 0.00 x ---

327 MISPOL 17 885 752 20.39 0.00 0.34 x ---

328 INTERBUD 7 016 000 20.07 0.00 0.34 x 10.1

329 MAKARONPL 9 250 071 19.89 0.00 0.33 x ---

330 DMWDM 82 500 000 19.80 0.00 0.37 15.9 ---

331 ATLANTAPL 6 091 904 19.19 0.00 0.40 x ---

332 ENAP 20 200 916 18.79 0.00 1.33 8.2 ---

333 LIBRA 11 398 530 18.69 0.00 0.56 x ---

334 ENERGOPLD 70 972 001 18.45 0.00 0.00 x ---

335 CASHFLOW 7 500 000 17.93 0.00 1.02 5.5 ---

336 BYTOM 71 250 000 17.81 0.00 0.84 x ---

337 BUDVARCEN 9 895 600 16.72 0.00 0.38 x ---


69

Fact Book 2013


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

338 ERG 43 305 000 16.46 0.00 0.52 11.4 ---

339 KCI 36 393 000 16.38 0.00 0.53 x ---

340 IFCAPITAL 45 047 916 16.22 0.00 0.13 x ---

341 SKYLINE 10 000 000 15.90 0.00 0.17 0.4 ---

342 TFONE 8 195 848 15.41 0.00 0.21 55.4 ---

343 TALEX 3 000 092 15.39 0.00 0.41 x 3.9

344 EUIMPLANT 152 547 322 15.25 0.00 2.42 x ---

345 DSS 12 927 709 15.13 0.00 0.00 x ---

346 BUDOPOL 52 000 000 15.08 0.00 0.22 112.5 ---

347 MEXPOLSKA 6 354 080 14.93 0.00 0.88 x ---

348 TRAVELPL 2 367 850 14.68 0.00 5.39 x ---

349 GREENECO 8 747 029 14.43 0.00 22.91 x ---

350 MOJ 8 559 000 14.38 0.00 0.43 23.6 ---

351 POLCOLORIT 179 231 869 14.34 0.00 0.15 x ---

352 EFEKT 1 665 150 14.32 0.00 0.62 6.6 6.5

353 RESBUD 2 473 000 13.82 0.00 0.00 x ---

354 ELKOP 106 002 204 13.78 0.00 0.24 0.9 ---

355 ECARD 84 200 000 13.47 0.00 4.96 x ---

356 MIRACULUM 119 656 836 13.16 0.00 0.61 x ---

357 GREMISLTN 4 960 946 13.05 0.00 0.28 1.3 ---

358 MEDIATEL 11 178 515 12.97 0.00 1.56 x ---

359 DELKO 5 980 000 12.92 0.00 0.34 x ---

360 ALTERCO 5 835 952 12.43 0.00 0.10 x ---

361 DGA 9 042 232 12.30 0.00 0.51 x ---

362 BOMI 61 736 904 11.73 0.00 0.00 x ---

363 PRIMAMODA 3 200 000 11.52 0.00 1.04 x ---

364 WISTIL 1 000 000 11.40 0.00 0.13 x ---

365 WANDALEX 9 250 719 11.10 0.00 0.31 284.6 10.0

366 PERMEDIA 1 955 000 11.07 0.00 0.41 356.9 ---

367 BETACOM 2 020 000 10.91 0.00 0.58 7.1 11.1

368 NORTCOAST 32 000 000 10.88 0.00 0.27 x ---

369 SANWIL 50 117 250 10.52 0.00 0.15 x ---

370 MUZA 2 851 896 9.92 0.00 0.43 48.4 ---

371 ZREMB 35 212 500 9.86 0.00 0.51 x ---

372 LSISOFT 3 260 762 9.29 0.00 0.48 7.4 ---


70

WSE Main List


value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

373 IGROUP 44 523 052 8.90 0.00 0.00 0.1 ---

374 POLJADLO 46 752 279 8.88 0.00 0.39 11.0 ---

375 B3SYSTEM 14 155 938 8.78 0.00 0.84 x ---

376 UNIMA 2 735 500 8.67 0.00 0.51 6.4 7.3

377 PWRMEDIA 6 400 000 8.32 0.00 1.93 19.4 5.2

378 VARIANT 5 752 380 8.11 0.00 0.25 x ---

379 REGNON 269 203 892 8.08 0.00 1.30 0.1 ---

380 PROCAD 9 019 000 7.94 0.00 0.53 19.2 ---

381 IZOLACJA 11 400 000 7.75 0.00 1.12 115.7 ---

382 QUANTUM 1 480 757 7.69 0.00 0.54 x 6.7

383 PBOANIOLA 7 609 566 7.61 0.00 0.25 x ---

384 WILBO 16 222 932 7.46 0.00 0.35 x ---

385 MEWA 28 944 392 7.24 0.00 0.42 x ---

386 DRAGOWSKI 18 450 000 6.83 0.00 0.35 x ---

387 ADVADIS 201 455 999 6.04 0.00 0.00 x ---

388 INTAKUS 22 500 000 4.95 0.00 0.36 x ---

389 HBPOLSKA 210 558 445 4.21 0.00 0.00 x ---

390 AMPLI 3 282 000 4.20 0.00 0.35 x ---

391 DREWEX 9 525 000 2.95 0.00 0.00 x ---

392 ABMSOLID 7 934 500 1.35 0.00 0.00 x ---

393 EUROMARK 12 218 750 1.10 0.00 0.14 x ---

394 ONE2ONE 7 009 505 0.98 0.00 0.00 x ---

Total domestic companies: 523 390 100.00 1.29 12.4 4.3

Foreign companies

1 UNICREDIT 5 789 536 030 90 837.82 43.12 0.33 11.2 ---

2 CEZ 537 989 759 59 178.87 28.09 1.48 7.5 6.7

3 MOL 104 519 063 26 067.05 12.37 0.81 16 2.4

4 KRKA 35 426 120 7 793.75 3.70 1.49 11.4 0.6

5 KERNEL 79 683 410 5 318.87 2.52 1.34 7.9 ---

6 NEWWORLDR 264 658 002 4 181.60 1.99 1.27 18.1 3.3

7 ASTARTA 25 000 000 1 375.00 0.65 0.87 4.3 ---

8 CCIINT 51 200 000 1 331.20 0.63 1.31 15 ---

9 EXILLON 161 510 911 1 282.40 0.61 0.72 x ---

10 TATRY 6 707 198 1 227.42 0.58 1.09 36.8 2.1

11 ORCOGROUP 107 840 962 1 078.41 0.51 0.50 x ---


71

Fact Book 2013



value (PLN million)

Market share

(%)P/BV P/E

Dividend yield

(%)

12 OLYMPIC 151 329 505 991.21 0.47 2.80 11.2 ---

13 PEGAS 9 229 400 710.66 0.34 1.23 11.2 5.6

14 FORTUNA 52 000 000 702.00 0.33 4.04 16 6.9

15 KOV 481 756 729 631.10 0.30 1.63 x ---

16 OVOSTAR 6 000 000 534.00 0.25 1.74 7.4 ---

17 INTERAOLT 20 000 000 532.80 0.25 13.97 7.1 13.5

18 SOPHARMA 132 000 000 528.00 0.25 0.64 5.6 ---

19 IMCOMPANY 31 300 000 511.76 0.24 1.24 8.8 ---

20 CEDC 81 515 752 505.40 0.24 0.66 x ---

21 SOBIESKI 3 199 038 492.65 0.23 0.00 x ---

22 SILVANO 39 400 000 472.80 0.22 1.95 18.1 ---

23 MILKILAND 31 250 000 453.13 0.22 0.62 10.2 ---

24 COALENERG 45 011 120 428.96 0.20 1.03 3.7 ---

25 PLAZACNTR 297 181 703 419.03 0.20 0.18 x ---

26 ASSECOSLO 21 360 000 416.73 0.20 0.97 6.9 13.8

27 AVIASG 5 893 333 353.60 0.17 2.40 13.1 ---

28 EUROHOLD 127 345 000 292.89 0.14 0.56 36.5 ---

29 ESTAR 2 640 000 224.66 0.11 4.94 x ---

30 RONSON 272 360 000 220.61 0.10 0.51 35.5 ---

31 AGROTON 21 670 000 216.70 0.10 0.47 x ---

32 WARIMPEX 54 000 000 210.60 0.10 0.67 6.2 ---

33 NOVAKBM 39 122 968 194.44 0.09 0.14 x ---

34 KDMSHIPNG 7 296 000 183.13 0.09 1.94 4.1 9.8

35 KSGAGRO 14 925 500 173.14 0.08 0.54 2.8 ---

36 ASBIS 55 500 000 159.84 0.08 0.51 4 4.3

37 ACE 21 230 515 121.01 0.06 0.73 13.1 3.6

38 SADOVAYA 43 085 693 89.19 0.04 0.39 7.5 ---

39 ATLASEST 50 322 014 83.03 0.04 0.21 x ---

40 AGROWILL 84 820 986 50.89 0.02 0.33 5.8 ---

41 BMPAG 18 819 250 46.30 0.02 0.69 x ---

42 WESTAISIC 44 133 333 32.66 0.02 0.42 x ---

43 REINHOLD 7 000 000 1.96 0.00 0.00 x ---

Total foreign companies: 210 657 100.00 0.56 12.1 2.4

72

WSE Main List

Invitations to sell shares in 2012

No. Company Intermediary Invitation announced byAnnouncement

date(dd.mm)

Announced price (PLN)

1 PEKAES SA TRIGON DM KH Logistyka sp z o.o. 3.01.12 8.00

2 ECHO INVESTMENT SA DI BRE SA Park Postepu- Projekt Echo-93 sp z o.o. 19.01.12 3.90

3 TF SKOK SA DM BDM SA Stowarzyszenie Krzewienia Edukacji Finansowej, Gdynia 20.01.12 4.15

4 Zakłady Mięsne HERMAN SA BZ WBK SA TransRMF-Plus sp z o.o. 20.01.12 1.20

5 Mondi Świecie SA UniCredit CAIB SA Mondi International Holdings B.V., Holland 16.02.12 69.00

6 Signity SA DM PKO BP Asseco Poland SA 22.02.12 21.00

7 NFI Empik Media&Fashion SA UniCredit CAIB SA Penta Investment Limited &

Eastrbridge SA R.L 13.03.12 9.85

8 RESBUD SA BZ WBK SA Atlantis SA 2.04.12 20.00

9 BGŻ SA DM PKO BP CCRB, RIH, The Netherlands 11.04.12 72.50

10 ŚNIEŻKA SA DM PKO BP Fabryka Farb i Lakierów Snieżka SA 16.04.12 31.00

11 Henryk Kania SA DM BZWBK SA Henryk Kania, Bielsko-Biała 30.04.12 1.59

12 Centrum Klima SA DM BH Lindab A.B., Sweden 2.05.12 14.50

13Zakłady Azotowe w Tarnowie-Mościcach SA

DM BZWBK SA Norica Holding Sàrl, Luxembourg 16.05.1236.00

change of price 45.00

14Zakłady Przemysłu Cukierniczego MIESZKO SA

KBC Securitues BISANTIO INVESTMENTS LIMITED, Republic of Cyprus 28.05.12 3.63

15 TELL SA DM BZ WBK SA TELL SA 29.05.12 14.00

16 Zakłady Automatyki POLNA DI BRE SA Zakłady Automatyki POLNA 31.05.12 14.00

73

Fact Book 2013

No. Company Intermediary Invitation announced byAnnouncement

date(dd.mm)

Announced price (PLN)

17 ATLANTIS DM BZ WBK SA DAMF Invest SA, Płock 5.06.12 1.20

18 NFI Empik Media&Fashion SA UniCredit CAIB SA Penta Investment Limited & Xandora

Holdings Limited, 6.06.12 10.45

19 Zakłady Azotowe "Puławy" SA DM PKO BP Synthos SA 18.06.12 102.50

20 ELZAB SA DI BRE SA Comp SA 29.06.12 1.41

21 NFI OCTAVA SA DI BRE SA NFI OCTAVA SA 6.07.12 6.15

22 Zakłady Azotowe "Puławy" SA UniCredit CAIB SA Zakłady Azotowe w Tarnowie-

Mościcach SA 13.07.12 110

23 Polish Energy Partners SA ING Securities Polenergia Holdings Sàrl 10.08.12 31.50

24 Pollena-Ewa SA ING Securities Toruńskie Zakłady Materiałów Opatrunkowych SA 21.08.12 9.90

25 Eko Holding SA UniCredit CAIB SA Ecorse Investmenst sp z o.o. 10.09.124.10

change of price 5.60

Eko Holding SA ING Securities Gemma Investments sp z o.o. 8.10.1218.10.12

5.50 change of price

6.35

26 ZELMER SA DM BZ WBK SA BSH Sprzęt Gospodarstwa Domowego sp z o.o. 14.11.12 40

27 Eko Holding SA UniCredit CAIB SA Ecorse Investmenst sp z o.o. 16.11.12 7.00

28 MISPOL SA DM BZ WBK SA Newma Hildings B.V. Holland 11.12.12 1.03

29Zakłady Magnezytowe "Ropczyce" TRIGON DM GI Ropczyce sp z o.o. 14.12.12 14.50

74

WSE Main List

Sectoral market indicators – all companies (end of 2012)

Macrosector / Sector Number of com-panies

Stock market capitalisation

Share in turnover

P/BV P/E Dividend yield

(PLN million) (%) (%) (%)

INDUSTRY

Food 29 17 735.36 2.42 1.58 1.57 13.8 2.0

Light industry 9 551.26 0.08 0.21 0.87 x 1.3

Wood & Paper 7 1 276.58 0.17 0.12 0.90 15.4 1.4

Chemicals 6 15 987.01 2.18 1.88 1.47 9.6 4.6

Pharmaceuticals 10 10 402.96 1.42 0.43 1.27 12.2 0.9

Oil & Gas 8 85 608.99 11.66 11.10 0.88 15.5 0.7

Plastics 6 852.75 0.12 0.06 1.00 35.5 1.4

Building materials 19 2 826.65 0.39 0.25 0.60 94.4 2.7

Construction 36 5 155.73 0.70 2.32 0.98 x 6.8

Electrical engineering 27 8 687.56 1.18 0.64 1.27 11.9 1.6

Metals 19 8 411.19 1.15 2.03 1.09 10.8 1.0

Automotive 6 2 002.11 0.27 0.11 1.16 10.1 5.1

Basic materials 7 58 189.56 7.93 20.74 1.63 6.0 11.3

Other 3 277.82 0.04 0.01 1.77 16.7 ---

FINANCIAL

Banking 18 267 516.71 36.44 23.12 0.70 12.9 1.5

Developers 27 10 839.26 1.48 1.44 0.59 x 1.2

Capital market 6 2 159.62 0.29 0.70 2.42 x 4.5

Insurance 1 37 735.96 5.14 9.78 2.73 11.3 5.1

Other financial 32 6 433.61 0.88 1.26 1.11 42.1 0.4

SERVICES

Retailing 23 21 712.67 2.96 2.06 3.93 58.8 5.0

Wholesaling 30 5 765.42 0.79 0.53 0.92 x 1.9

IT 31 8 377.86 1.14 1.59 0.74 13.7 3.7

Telecoms 6 18 579.91 2.53 7.20 1.15 12.6 10.6

Media 16 11 698.73 1.59 1.74 1.84 14.3 1.0

Energy 11 112 767.09 15.36 7.92 0.98 6.9 7.3

Hotels & Restaurants 9 6 191.06 0.84 0.38 1.35 28.3 1.5

Other services 35 6 304.07 0.86 0.83 1.63 15.4 2.2

TOTAL 437 734 047.50 100.00 100.00 0.94 12.3 3.7

75

Fact Book 2013

Shares and rights to shares (PDA) – key figures

2012 2011 2010 2009 2008

Indices

WIG20 at year-end 2 582.98 2 144.48 2 744.17 2 388.72 1 789.73

mWIG40 at year-end 2 552.54 2 173.89 2 805.26 2 346.14 1 511.27

sWIG80 at year-end 10 443.68 8 496.54 12 219.94 11 090.93 6 852.79

WIG-Plus at year-end 769.86 715.74 --- --- ---

WIG at year-end 47 460.59 37 595.44 47 489.91 39 985.99 27 228.64

Return on WIG20 (%) 20.45 -21.85 14.88 33.47 -48.21

Return on mWIG40 (%) 17.42 -22.51 19.57 55.24 -62.48

Return on sWIG80 (%) 22.92 -30.47 10.18 61.85 -56.95

Return on WIG-Plus (%) 7.56 -40.47 --- --- ---

Return on WIG (%) 26.24 -20.83 18.77 46.85 -51.07

Companies

Number of all listed companies at year-end of which domestic companies of which foreign companies

43839543

42638739

40037327

37935425

37434925

Capitalisation at year-end (PLN million) of which domestic companies (PLN million) of which foreign companies (PLN million)

734 048523 390210 657

642 863446 151196 712

796 482542 646253 836

715 822421 178294 643

465 115267 359197 756

Average P/E ratio* 11.7 12.5 18.2 14.3 11.0

Average P/BV ratio* 0.89 1.06 1.16 1.04 1.57

Dividend yield (%)* 3.9 2.9 2.4 3.6 3.1

Total turnover value for the year (PLN million) 202 880 268 138 234 288 175 943 165 658

Average turnover value per session (PLN million) 814.8 1 068.3 926.1 698.2 660.0

Number of transactions per session 46 388 55 358 48 410 51 406 38 220

Average value of transaction (PLN) 17 565 19 298 19 129 13 582 17 268

Turnover ratio (%)** 40.6 42.2 45.3 58.4 44.2

Number of sessions for the year 249 251 253 252 251

Investment accounts at year-end (‘000) 1 509 1 498 1 477 1 133 1 029

Continuous trading

Number of all listed companies at year-end 418 415 387 358 359



Single-price system


Number of transactions per session 78 44 134 216 41

Total turnover value for the year (PLN million) 33 17 68 86 15

76

WSE Main List

2012 2011 2010 2009 2008

Block trades

Number of transactions (single-counted) 3 403 3 787 4 482 2 888 2 464

Average value of transaction (PLN million) 4.5 4.63 6.12 3.2 2.15


* Average annual figure for all listed companies.** For domestic companies.

2012 2011 2010 2009 2008

Pre-emptive rights

Number of series traded at year-end 0 0 0 0 0

Total turnover for the year (PLN million) 78 85 190 377 88 297

Average turnover per session (PLN million) 0.31 0.34 0.75 1.50 352.00



Pre-emptive rights – block trades

Number of transactions (single-counted) 7 32 10 7 1

Average value of transaction (PLN thousand) 5 812 3 371 7 636 198 757 7 200

Total turnover value for the year (PLN million) 41 108 77 1 392 7 200

* Excluding block trades.

Pre-emptive rights – key figures

77

Fact Book 2013

Foreign companies in 2012

The WSE aims to enhance its position as the regional financial hub, focusing its efforts on attracting companies from Central and East-ern Europe. 2012 was another year when the WSE pursued that strategy.

At the end of 2012 the Main List had shares of 43 foreign companies in listing, with an overall market value of PLN 210 billion. Turnover value for foreign companies ex-ceeded PLN 5 billion throughout the year. Shares of five new foreign companies en-tered the Main List in 2012 (out of the 19 IPOs in total). At present, the largest num-ber of companies (11) come from Ukraine, followed by the Czech Republic (3), Hungary (2), Bulgaria (2) and Estonia (2).

Much as in 2011, the shares of KERNEl at-tracted most interest among investors. The trading value for KERNEL shares through-out the year exceeded PLN 1.7 billion while

the second largest company in this ranking, KOV, generated a figure of nearly PLN 800 million.

Starting from 30 May 2012, the WSE intro-duced the WIG-CEE index as a consequence of the growing number of issuers from CEE and a step towards raising its profile in the region. Alongside WIG-Poland and WIG-Ukraine, WIG-CEE is the WSE’s third index based on the criterion of the issuer’s coun-try of origin.

Comprehensive information about foreign companies can be found at www.wseinter-national.eu, a dedicated website with de-scriptive information on WSE-listed foreign companies, analytics as well as current re-ports and stock prices.

No. CompanyIssuing

price

First quotation Change in price sinceDate Price of shares /

rights to shares (PDA)

Price of shares / rights to shares

(PDA)offering first quotation

(PLN) (dd.mm) (PLN) (PLN) (%) (%)

1 KRKA 202.10 11.04 210.00 220.00 8.86 4.76

2 KDMSHIPNG 32.40 09.08 33.00 25.10 -22.53 -23.94

3 TATRY 178.40 15.10 179.00 183.00 2.58 2.23

4 EXILLON 7.36 29.10 7.40 7.94 7.88 7.30

5 INTERAOLT 24.17 18.12 25.75 26.64 10.22 3.46

*Issue price or the reference price on the IPO date.

New foreign companies in 2012

78

WSE Main List

Foreign companies – key figures

2012 2011 2010 2009 2008

Number of foreign companies at year-end 43 39 27 25 25

Capitalisation of foreign companies at year-end (PLN million) 210 657 196 712 253 836 294 643 197 756

Average P/E ratio* 18.1 11.6 17.0 10.6 10.0


Dividend yield (%)* 2.9 3.0 1.7 4.2 2.8


Average turnover value per session (PLN million) 21.5 35.0 32.5 28.0 24.6



Turnover ratio for companies (%) 1.3 2.5 2.4 2.5 1.6

* Average annual figure.

Foreign companies traded on the WSE (end of 2012)

No. Company First quotation (dd.mm.yyyy) Sector Country

1 BMPAG 16.12.2004 Finance other Germany

2 MOL 22.12.2004 Oil & Gas Hungary

3 ASTARTA 17.08.2006 Food Ukraine

4 ASSECOSLO 10.10.2006 IT Slovakia

5 CEZ 25.10.2006 Power Czech Republic

6 CCIINT 08.12.2006 Media Israel

7 CEDC 20.12.2006 Wholesaling USA

8 PEGAS 21.12.2006 Pharmaceutical Czech Republic

9 WARIMPEX 29.01.2007 Developers Austria

10 ACE 01.06.2007 Automotive Spain

11 ORCOGROUP 21.06.2007 Developers Luxembourg

12 SILVANO 23.07.2007 Retailing Estonia

13 OLYMPIC 26.09.2007 Hotels & Restaurants Estonia

14 PLAZACNTR 19.10.2007 Developers Israel

79

Fact Book 2013

No. Company First quotation (dd.mm.yyyy) Sector Country

15 ASBIS 30.10.2007 Wholesaling Cyprus

16 RONSON 05.11.2007 Developers Israel

17 KERNEL 23.11.2007 Food Ukraine

18 REINHOLD 13.12.2007 Developers Sweden

19 UNICREDIT 20.12.2007 Banking Italy

20 SOBIESKI 21.04.2008 Food France

21 KOV 25.05.2010 Oil & Gas Canada

22 FORTUNA 28.10.2010 Services other Czech Republic

23 AGROTON 08.11.2010 Foods Ukraine

24 MILKILAND 06.12.2010 Foods Ukraine

25 SADOVAYA 30.12.2010 Basic materials Ukraine

26 AVIASG 03.03.2011 Services other Lithuania

27 ESTAR 22.03.2011 Power sector Hungary

28 IMCOMPANY 04.05.2011 Food Ukraine

29 KSGAGRO 05.05.2011 Food Ukraine

30 NEWWORLDR 09.05.2011 Basic materials United Kingdom

31 NOVAKBM 11.05.2011 Banking Slovenia

32 WESTAISIC 15.06.2011 Electrical engineering Ukraine

33 OVOSTAR 29.06.2011 Food Ukraine

34 AGROWILL 08.07.2011 Food Lithuania

35 COALENERG 04.08.2011 Basic materials Ukraine

36 SOPHARMA 28.11.2011 Pharmaceutical Bulgaria

37 EUROHOLD 15.12.2011 Finance other Bulgaria

38 KRKA 11.04.2012 Pharmaceutical Slovenia

39 AERFINANC 02.07.2012 Invests Wielka Brytania

40 KDMSHIPNG 09.08.2012 Services other Ukraine

41 TATRY 15.10.2012 Hotels & Restaurants Slovakia

42 EXILLON 29.10.2012 Oil & Gas Russia

43 INTERAOLT 18.12.2012 Power sector Lithuania

Foreign companies traded on the WSE (end of 2012) (contd.)

80

WSE Main List

Foreign companies by market value (end of 2012)

No. Company Shares outstanding

(million)

Market value

(PLN million)

Market share

(%)


(%)

1 UNICREDIT 5 789.54 90 837.82 43.12 0.33 11.2 ---

2 CEZ 537.99 59 178.87 28.09 1.48 7.5 6.7

3 MOL 104.52 26 067.05 12.37 0.81 16 2.4

4 KRKA 35.43 7 793.75 3.70 1.49 11.4 0.6

5 KERNEL 79.68 5 318.87 2.52 1.34 7.9 ---

6 NEWWORLDR 264.66 4 181.60 1.99 1.27 18.1 3.3

7 ASTARTA 25.00 1 375.00 0.65 0.87 4.3 ---

8 CCIINT 51.20 1 331.20 0.63 1.31 15 ---

9 EXILLON 161.51 1 282.40 0.61 0.72 x ---

10 TATRY 6.71 1 227.42 0.58 1.09 36.8 2.1

11 ORCOGROUP 107.84 1 078.41 0.51 0.50 x ---

12 OLYMPIC 151.33 991.21 0.47 2.80 11.2 ---

13 PEGAS 9.23 710.66 0.34 1.23 11.2 5.6

14 FORTUNA 52.00 702.00 0.33 4.04 16 6.9

15 KOV 481.76 631.10 0.30 1.63 x ---

16 OVOSTAR 6.00 534.00 0.25 1.74 7.4 ---

17 INTERAOLT 20.00 532.80 0.25 13.97 7.1 13.5

18 SOPHARMA 132.00 528.00 0.25 0.64 5.6 ---

19 IMCOMPANY 31.30 511.76 0.24 1.24 8.8 ---

20 CEDC 81.52 505.40 0.24 0.66 x ---

21 SOBIESKI 3.20 492.65 0.23 0.00 x ---

22 SILVANO 39.40 472.80 0.22 1.95 18.1 ---

23 MILKILAND 31.25 453.13 0.22 0.62 10.2 ---

24 COALENERG 45.01 428.96 0.20 1.03 3.7 ---

25 PLAZACNTR 297.18 419.03 0.20 0.18 x ---

26 ASSECOSLO 21.36 416.73 0.20 0.97 6.9 13.8

27 AVIASG 5.89 353.60 0.17 2.40 13.1 ---

28 EUROHOLD 127.35 292.89 0.14 0.56 36.5 ---

29 ESTAR 2.64 224.66 0.11 4.94 x ---

30 RONSON 272.36 220.61 0.10 0.51 35.5 ---

31 AGROTON 21.67 216.70 0.10 0.47 x ---

32 WARIMPEX 54.00 210.60 0.10 0.67 6.2 ---

81

Fact Book 2013

No. Company Shares outstanding

(million)

Market value

(PLN million)

Market share

(%)


(%)

33 NOVAKBM 39.12 194.44 0.09 0.14 x ---

34 KDMSHIPNG 7.30 183.13 0.09 1.94 4.1 9.8

35 KSGAGRO 14.93 173.14 0.08 0.54 2.8 ---

36 ASBIS 55.50 159.84 0.08 0.51 4 4.3

37 ACE 21.23 121.01 0.06 0.73 13.1 3.6

38 SADOVAYA 43.09 89.19 0.04 0.39 7.5 ---

39 ATLASEST 50.32 83.03 0.04 0.21 x ---

40 AGROWILL 84.82 50.89 0.02 0.33 5.8 ---

41 BMPAG 18.82 46.30 0.02 0.69 x ---

42 WESTAISIC 44.13 32.66 0.02 0.42 x ---

43 REINHOLD 7.00 1.96 0.00 0.00 x ---

Total: 210.657 100.00 0.56 12.1 2.4

Foreign companies by trading value in 2012

No. Company Order-book trades Block trades

Turnover value

Average volume

Average number of

transactions

Average number of

orders

Turnover value


(PLN million) per session per session per session (PLN million)

1 KERNEL 1 715.7 103 740 455 2 592 48.4 33

2 KOV 791.0 2 206 233 577 2 517 1.1 4

3 CEDC 389.6 123 866 355 1 624 6.3 9

4 CEZ 380.0 12 884 26 2 846 0.8 2

5 CCIINT 259.8 34 498 11 75 3.4 7

6 UNICREDIT 226.2 58 916 22 770 0.8 2

7 NEWWORLDR 198.9 47 763 10 1 595

8 ASTARTA 174.3 11 664 38 186 4.0 14

9 MOL 165.3 2 632 4 1 186 9.8 8

10 SADOVAYA 137.0 158 435 190 972 0.1 1

11 MILKILAND 82.9 20 249 34 182 0.1 1

12 AGROTON 69.9 21 288 60 296 0.6 2

13 SOBIESKI 58.5 1 130 62 665

14 OVOSTAR 55.9 2 443 20 124

Foreign companies by market value (end of 2012) (contd.)

82

WSE Main List

No. Company Order-book trades Block trades

Turnover value

Average volume

Average number of

transactions

Average number of

orders

Turnover value


(PLN million) per session per session per session (PLN million)

15 COALENERG 54.1 9 815 16 77

16 FORTUNA 51.3 13 195 11 347 1.8 4

17 KRKA 49.8 1 403 0 3

18 WESTAISIC 48.6 167 122 100 520

19 SILVANO 46.4 14 376 12 73 1.5 3

20 PLAZACNTR 46.3 84 853 22 143 1.2 2

21 KSGAGRO 40.2 9 896 19 167

22 ACE 35.2 24 135 20 127 0.4 3

23 IMCOMPANY 31.7 10 217 20 124

24 ASBIS 28.1 45 884 26 138 0.5 1

25 AVIASG 19.1 2 044 18 120

26 ORCOGROUP 17.8 5 595 31 1 691

27 WARIMPEX 13.8 15 126 12 165 0.3 1

28 ASSECOSLO 11.2 2 211 2 24

29 NOVAKBM 9.9 6 514 6 56 1.2 5

30 RONSON 8.3 35 015 11 122

31 PEGAS 7.8 394 2 184

32 REINHOLD 6.7 24 980 23 175

33 BMPAG 4.7 6 723 10 84

34 INTERAOLT 2.9 18 243 40 75

35 ATLASEST 2.8 6 713 5 48 3.5 4

36 OLYMPIC 2.2 1 608 1 18

37 AERFINANC 1.9 50 633 20 157

38 AGROWILL 1.2 6 855 4 35

39 TATRY 0.9 96 3 11

40 KDMSHIPNG 0.8 297 4 41

41 EXILLON 0.6 1 960 9 48

42 EUROHOLD 0.4 710 1 19

43 NEWWORLDN 0.4 80 1 19

44 SOPHARMA 0.2 100 0 10 6.3 3

45 ESTAR 0.0 0 0 3 2.7 6

Foreign companies by trading value in 2012 (contd.)

83

Fact Book 2013

Structured products are financial instru-ments where the price is dependent on the value of specific underlying market indica-tors (e.g. equity prices or stock baskets, val-ues of stock indices, commodities or foreign exchange rates). They are issued by finan-cial institutions, most commonly by banks or brokerage houses. The issuer of a structured product with a

defined maturity commits to make a pay-ment to the buyer (investor) at maturity, and the sum to be paid is calculated ac-cording to a predetermined formula. The redemption formula enables the holders of structured products to monitor chang-es in the values of their instruments on an ongoing basis.

The issuer of a structured product with-out a defined maturity (open-end certifi-cates) commits to ensure that the price of the certificate will follow the price of the underlying instrument. There are also certificates (short certificates) which offer potential gains when the prices of underlying instruments decline – those are the so-called SHORT certificates.

Depending on their design, two essential types of structured products can be identi-fied: Knock-out certificates – instruments with

financial leverage and a built-in knock-out. They offer an opportunity for higher gains versus the underlying instrument, no matter if the price of the underlying instrument increases or declines.

Factor certificates – instruments with un-changeable financial leverage without a defined maturity (open-end). They allow the holder to attain higher gains versus the underlying instrument, no matter if the price of the underlying instrument increases or declines

Option warrants – the payment profile is the same as for an option buyer. This product has an issuer and is an instru-

ment with a financial leverage which of-fers potential gains no matter if the price of the underlying instrument increases or declines.

Trackers – instruments which track the changes of a market index (mostly in ba-sic materials, agricultural commodities, stock indices, stock prices, baskets com-prising various instruments etc.). They offer opportunities for gains no matter if the underlying index increases or de-clines (so-called short certificates).

Products which ensure partial security of invested capital – they bear a lower risk than trackers or option warrants. The major part of invested capital is put in safe assets (e.g. bonds, deposits). The second part of the investment is put to work to generate the intended rate of re-turn.

Products which ensure complete secu-rity of invested capital – the safest of the current products which offer a pre-determined share of yield generated by the underlying market indicator, coupled with a guaranteed 100 per cent refund of the nominal sum upon the settlement date.

Other product types, where the payment profile depends on fulfilment of condi-tions described in ‘Final Terms’.

Structured products can be further subdi-vided into short-, medium- and long-term products as well as open-end products, de-pending on their maturity.

The first ever structured product (a struc-tured bond) was launched on the WSE in Au-gust 2006. At the end of 2012 a total of 343 structured products were listed, among them 327 certificates and 16 bonds (the figures for 2011 were, respectively, 206 structured prod-ucts, incl. 178 certificates and 28 bonds). The turnover value for 2012 reached PLN 164.5 million versus PLN 350.8 for 2011.

Structured Products

84

WSE Main List

At the end of 2012, the WSE listed struc-tured products from the following issuers: Deutsche Bank London, ERSTE Bank, Raif-feisen Centrobank, Barclays Bank, BNP Paribas, UniCredit, SeccurAsset SA and the Royal Bank of Scotland.

In 2012 the WSE continued to develop cash market instruments, expanding its range by 237 structured products, including: turbo certificates, trackers, WIG20 warrants and,

as a new addition, factor certificates which enable investments in commodities (gold, silver, oil, sugar, wheat and corn) with a fixed leverage, as well as stock market in-dices (EURO, STOXX50, WIG20 and DAX).

Structured products – key figures

2012 2011 2010 2009 2008

Number of listed series at year-end 343 206 148 70 46

Total turnover value for the year (PLN thousand)* 164 332 350 224 285 188 156 118 78 088

Average turnover value per session (PLN thousand) 660 1 395 1 127 620 311



Block trades


Average value of transaction (PLN thousand) 101 579 108 194 2 996.88

Total turnover value for the year (PLN thousand) 203 579 430 194 5 994


85

Fact Book 2013

Investment Certificates

Investment certificates – key figures2012 2011 2010 2009 2008

Continuous trading Number of listed series at year-end 58 60 58 50 47Total turnover value for the year (PLN thousand)* 55 926 128 979 105 244 103 696 336 795Average turnover value per session (PLN thousand) 225 514 416 412 1 342Number of transactions per session 39 76 64 69 103Average value of transaction (PLN) 5 703 6 795 6 517 5 993 12 986Turnover volume per session 1 088 1 541 1 497 1 311 7 683

Block tradesNumber of transactions (single-counted) 5 8 3 3 9Average value of transaction (PLN thousand) 254 5 019 685 141 364Total turnover value for the year (PLN thousand) 1 272 40 154 2 056 424 3 279


Investment certificates are issued by closed-end investment funds. As bearer securities, they may be listed on the WSE. Investment funds which issue certificates are estab-lished for a specified period of time. Their objective is to achieve the highest possible returns on the capital paid in by fund par-ticipants, mainly through investments in se-curities. The fund ceases to exist through a liquidation procedure whereby investment

certificates are redeemed and fund partici-pants receive payments according to the number of certificates held and their final valuation.

At the end of 2012, a total of 58 series of sertificates were listed, with the total value of trading reaching PLN 57.2 million.

First quotation

No. Ticker First quotation date (dd.mm)

1 KBCGJ1FIZ 26.04.12 2 KBCKS1FIZ 09.07.12 3 KBCAM1FIZ 13.08.12 4 KBCJU1FIZ 03.12.12 5 UNISYS1AB 21.12.12

Last quotation

No. Ticker Last quotation date (dd.mm)

1 KBCPP2FIZ 26.01.12 2 KBCFINFIZ 27.03.12 3 KBCDLWFIZ 27.03.12 4 KBCATLFIZ 27.03.12 5 KBCEIIFIZ 28.05.12 6 KBCEURFIZ 26.06.12 7 KBCISNFIZ 26.10.12

Investment certificates market calendar in 2012

86

WSE Main List

ETFs

ETF (exchange-traded fund) is an open-end investment fund aimed to reflect index per-formance. Units of an ETF can be created and redeemed every day. Participation units in ETFs are securities and are traded on the stock exchange in the same way as equities are.

The ETF on the WSE was launched by LYXOR Asset Management (part of Societe Generale Group) in 2010 and based on the WIG20 index. Starting from May 2011, two further ETFs have been listed: one linked to DAX and one to S&P500. The value of the

WIG20 EFT corresponds with 1/10 of the value of WIG20 whereas the values of DAX and S&P500 ETFs correspond with 1/100 of their respective values, respectively in EUR and USD. Throughout 2012 the value of trading in ETFs amounted to PLN 223.2 million with the trading value in 2011 reaching PLN 284.3.

ETFs – key figures2012 2011 2010

ETFs – continuous trading Number of series traded at year-end 3 3 1Total turnover value for the year (PLN thousand)* 217 126 259 718 70 515Average turnover value per session (PLN thousand) 872 1 035 279Number of transactions per session 29 35 10Average value of transaction (PLN) 29 825 29 798 26 822Trading volume per session 4 479 4 178 1 026Net asset value, total (PLN thousand) 3 248 486 3 418 025 251 357Net asset value per unit (PLN) 618.44 514.15 279.29

ETFs – block trades Number of transactions (single-counted) 1 5 5Average value of transaction (PLN thousand) 6 045 4 918 2 923Total turnover value for the year (PLN thousand) 6 045 24 590 14 616


87

Fact Book 2013

Warrants – key figuresTotal warrants 2012 20111 20052 2004 2003

Total turnover value (PLN thousand) 223.17 546.10 2 884.38 11 459.60 15 491.85Average turnover per session (PLN thousand) 0.90 4.83 11.92 44.94 61.72Average volume per session 1 016 7 801 1 278 5 333 8 011Number of transactions per session 1 8 7 15 22Number of series (at year-end) 68 90 8 29 35

Index warrants3 2012 2011 2005 20043 2003

Total turnover value (PLN thousand) 37 20 --- 11 73 1 973 07 3 646 89Average turnover per session (PLN thousand) 0 33 --- 0 21 7 86 14 65Average volume per session 211 --- 27 1 062 736Number of transactions per session 2 --- 0 3 5Number of series (at year-end) 13 --- 2 2 8

Stock warrants4 2012 2011 20054 2004 2003

Total turnover value (PLN thousand) 508 90 1 981 43 5 695 34 8 302 52 3 555 58Average turnover per session (PLN thousand) 4 50 8 19 22 33 33 08 14 28Average volume per session 7 590 985 3 428 5 234 2 863Number of transactions per session 6 5 8 12 6Number of series (at year-end) 77 6 27 31 31

Futures warrants5 2012 2011 2005 2004 2003

Total turnover value (PLN thousand) --- 902 95 5 752 53 5 216 26 1 286 94Average turnover per session (PLN thousand) --- 3 73 22 56 20 78 5 17Average volume per session --- 293 1 899 1 715 533Number of transactions per session --- 2 7 6 3Number of series (at year-end) --- 2 2 2 2

1 Those warrants returned to trading on 21 July 2011.2 16 December 2005 was the last day of trading for warrants.3 19 March 2004 was the last day of trading for index warrants.4 16 December 2005 was the last day of trading for stock warrants.5 Futures warrants were traded between 24 September 2001 and 16 December 2005.

Option Warrants

Option warrants are issued by financial in-stitutions. They have an issuer, a prospectus and an information document (terms of final issue), separate for each series traded. War-rants give investors the right (not an obliga-tion) to buy or sell a selected underlying in-strument (e.g. equities, index) on a specific future date at a pre-determined price. This price, called the exercise price, is set by the issuer.

Investors which expect the price of the un-derlying instrument to go up, buy call war-rants. Investors who want to protect them-selves against a declining price or earn on such price declines buy put warrants.

An option warrant contains an element of a financial leverage which offers an opportu-nity to achieve higher rates of return from investment versus investments in underly-ing instruments. Purchased warrants may be kept until maturity or sold at any time at a market price.

Warrants returned to the WSE (after a few years’ break) in July 2011. They are issued by Raiffeisen Centrobank AG. At the end of 2012 a total of 60 American-style warrants from that issuer were in trading, linked to equities and the WIG20 index.

88

WSE Main List

Short selling (SS)

2012 2011 2010*

Number of instruments (at year-end) 176 178 178

Total turnover value (PLN thousand) 2 778 108 2 682 050 1 008 643

Average turnover per session (PLN thousand) 11 157 10 685 7 819

Average number of transactions per session 511 419 290

Average value of transaction (PLN thousand) 22 26 27

* Data since 1 July 2010.

Short Selling

Short selling was allowed on the Warsaw Stock Exchange starting from 1 July 2010. Short selling means that investors sell se-curities which are not held on their invest-ment accounts at the moment of sale. When settlement occurs (normally three days after the day of sale) the investor needs to have the securities to provide them to the buyer. The most popular way of obtaining securi-ties for the transaction is to loan them (e.g. from the investor’s brokerage house). It is important to bear in mind that short sell-ing is not available to all customers and is offered under the contract signed with the brokerage house which maintains the inves-tor’s securities account. Moreover, not all securities can be involved in short selling. The WSE defines criteria to be met by secu-rities to be admitted to short selling. Sepa-rate criteria are defined for orders placed by

investors and financial institutions acting on their own account and for market makers.

As of the end of 2012, the WSE members were allowed to engage in short selling on their own account or their clients’ account with regard to shares in 30 companies and 36 bonds (the figures at the end of 2011 were, respectively, 33 and 38). Market mak-ers were allowed to conduct short selling involving shares of 140 companies and 36 bonds (at the end of 2011 those were, re-spectively, shares in 140 companies and 38 bonds). In 2012 the share of short selling in equities trading on the Main List represent-ed 1.5% (1.1% in 2011, and 0.1% from July to December 2010).

89

Fact Book 2013

WSE Indices

At the end of 2012 the Warsaw Stock Ex-change calculated and published eight indices, eleven sectoral subindices, two strategy indices, two national indices, two external indices and one regional index.

The values of eight indices are reported on an ongoing basis (from session start till end). Those are: WIG20, mWIG40, sWIG80, WIG-Plus WIGdiv WIG WIG CEE RESPECTIndex

The values of WIG-Poland, WIG-Ukraine, WIG20TR and sectoral subindices are pub-lished three times during a trading session (after the first and the second auction and upon the end of the session).

New indices

On 30 May 2012 the WSE began to calculate WIG-CEE

grouping all listed companies from Central and Eastern Europe. WIG-CEE is a total re-turn index, which means that income from its constituent shares, dividends and pre-emptive rights is also taken into account for its calculation.

On 3 December 2012, the WSE began to publish WIG20TR

i.e. a WIG20-based index calculated includ-ing income from market operations, such as dividend payment or a new share issue with pre-emptive rights. The WIG20TR portfolio and the rules of its calculation are in line with the respective rules for WIG20.

90

WSE Main List

The WIG20 IndexCalculated since 16 April 1994, WIG20 is the index of the largest quoted companies (blue chips) and has a base value of 1,000 points.

WIG20 values are calculated on the basis of share prices of 20 listed companies. This index is published from the start until the close of a session at 15-second intervals. WIG20 is a price index, which means that income from dividends and pre-emptive rights is not taken into account in its calcula-tion. Changes to the WIG20 composition are made four times a year. The annual review is conducted in March, whereas quarterly adjustments take place in June, September and December.

The list of constituent companies of this in-dex is drawn up from a special list covering companies with free float exceeding 10%

and EUR 1 million, not in a special situation (as defined in the WSE Rules), not classified to either MINUS 5 or ALERT LIST, and not part of the Lower Liquidity Zone. Companies selected with this method are then ranked by turnover value for the last 12 months (weight 0.6) and free float value (weight 0.4). The index covers companies which are ranked 1 to 25 in the case of a review, and ranked 1 to 30 in the case of an adjustment.

Shares held by companies in this index are updated during each review and adjustment exercise, based on the current free float balance. As an additional requirement, one company may have no more than a 15% share in this index.

The WIG20 index in 2012

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

3 000

2 750

2 500

2 250

2 000

2 035.824 May

2 602.5119 Dec

91

Fact Book 2013

The WIG20 index portfolio (end of 2012)

No. Shares Price of shares Number of shares in portfolio

Market value Share in WIG20

(PLN) (PLN) (%)

1 KGHM 190.00 136 410 000 25 917 900 000 14.92

2 PZU 437.00 55 967 000 24 457 579 000 14.08

3 PKOBP 36.90 654 932 000 24 166 990 800 13.91

4 PEKAO 167.50 106 971 000 17 917 642 500 10.32

5 PKNORLEN 49.50 309 999 000 15 344 950 500 8.83

6 PGE 18.21 712 636 000 12 977 101 560 7.47

7 PGNIG 5.21 1 628 088 000 8 482 338 480 4.88

8 TPSA 12.23 647 357 000 7 917 176 110 4.56

9 TAURONPE 4.75 1 043 555 000 4 956 886 250 2.85

10 BOGDANKA 136.00 33 979 000 4 621 144 000 2.66

11 BRE 326.00 12 785 000 4 167 910 000 2.40

12 JSW 92.40 37 704 000 3 483 849 600 2.01

13 KERNEL 66.75 49 223 000 3 285 635 250 1.89

14 HANDLOWY 98.30 32 665 000 3 210 969 500 1.85

15 ASSECOPOL 45.35 69 483 000 3 151 054 050 1.81

16 SYNTHOS 5.41 496 691 000 2 687 098 310 1.55

17 LOTOS 41.20 60 797 000 2 504 836 400 1.44

18 GTC 9.90 230 737 000 2 284 296 300 1.32

19 TVN 9.92 158 105 000 1 568 401 600 0.90

20 BORYSZEW 0.62 969 028 000 600 797 360 0.35

92

WSE Main List

The mWIG40 IndexAs the successor to the MIDWIG, the mWIG40 index covers medium size com-panies (by market value and turnover). The index has been published by the WSE since 31 December 1997, its base value being 1,000 points.

mWIG40 values are calculated on the ba-sis of share prices of 40 listed companies. This index is published from the start until the close of session at one-minute intervals. mWIG40 is a price index, which means that income from dividends and pre-emptive rights is not taken into account in its cal-culation. Changes to the composition of mWIG40 are made four times a year. The an-nual review is conducted in March, whereas quarterly adjustments take place in June, September and December.

The list of constituent companies of this in-dex is drawn up from a special list covering companies with free float exceeding 10%

and EUR 1 million, not in a special situation (as defined in the WSE Rules), not classified to either MINUS 5 or ALERT LIST, and not part of the Lower Liquidity Zone. Compa-nies selected according to this method are then ranked by turnover value for the last 12 months (weight 0.6) and free float value (weight 0.4). The index covers companies which are ranked 25 to 65 in the case of a review, and ranked 30 to 70 in the case of an adjustment.

Company shares in this index are updated during each revision and adjustment exer-cise, based on the current free float balance. As an additional requirement, one company may have no more than a 10% share in this index.

The mWIG40 index in 2012

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

3 000

2 750

2 500

2 250

2 000

2 625.9619 Dec

2 147.525 Jun

93

Fact Book 2013

The mWIG40 index portfolio (end of 2012)


Market value Share in mWIG40

(PLN) (PLN) (%) 1 LPP 4 550.00 930 000 4 231 500 000 9.97 2 EUROCASH 43.70 77 261 000 3 376 305 700 7.95 3 INGBSK 91.00 32 525 000 2 959 775 000 6.97 4 CYFRPLSAT 16.41 168 807 000 2 770 122 870 6.53 5 ENEA 15.73 131 913 000 2 074 991 490 4.89 6 GETINOBLE 1.79 1 075 039 000 1 924 319 810 4.53 7 AZOTYTARNOW 53.90 35 085 000 1 891 081 500 4.45 8 MILLENNIUM 4.42 418 366 000 1 849 177 720 4.36 9 NETIA 4.28 372 699 000 1 595 151 720 3.76 10 CCC 73.00 20 030 000 1 462 190 000 3.44 11 AMREST 96.20 14 216 000 1 367 579 200 3.22 12 KETY 144.90 9 226 000 1 336 847 400 3.15 13 ECHO 5.05 233 735 000 1 180 361 750 2.78 14 NEWWORLDR 15.80 70 868 000 1 119 714 400 2.64 15 GPW 38.87 27 123 000 1 054 271 010 2.48 16 GETIN 2.82 324 766 000 915 840 120 2.16 17 KREDYTB 16.50 54 332 000 896 478 000 2.11 18 PULAWY 137.50 6 474 000 890 175 000 2.10 19 EMPERIA 57.95 15 115 000 875 914 250 2.06 20 ORBIS 38.00 21 801 000 828 438 000 1.9521 BUDIMEX 70.00 10 452 000 731 640 000 1.72 22 CIECH 22.20 32 292 000 716 882 400 1.6923 INTERCARS 86.00 8 053 000 692 558 000 1.63 24 CCIINT 26.00 23 610 000 613 860 000 1.45 25 KOPEX 17.70 30 713 000 543 620 100 1.28 26 BIOTON 0.10 5 216 479 000 521 647 900 1.2327 ASTARTA 55.00 9 256 000 509 080 000 1.20 28 AGORA 10.38 45 245 000 469 643 100 1.1129 KRUK 44.06 10 078 000 444 036 680 1.05 30 CDPROJEKT 6.20 55 376 000 343 331 200 0.81 31 IMPEXMET 3.50 98 000 000 343 000 000 0.81 32 MIDAS 0.65 503 124 000 327 030 600 0.7733 POLIMEXMS 0.62 521 117 000 323 092 540 0.76 34 CORMAY 12.93 23 135 000 299 135 550 0.71 35 KOV 1.31 214 321 000 280 760 510 0.66 36 HAWE 3.80 58 937 000 223 960 600 0.5337 ROVESE 1.42 123 345 000 175 149 900 0.41 38 PETROLINV 1.40 113 902 000 159 462 800 0.3839 CEDC 6.20 16 040 000 99 448 000 0.23 40 IDMSA 0.21 184 975 000 38 844 750 0.09

94

WSE Main List

The sWIG80 IndexThe sWIG80 index is the successor to the WIRR. Its portfolio covers listed compa-nies which are smaller than the WIG20 and mWIG40 constituents.

The index has been published by the WSE since 31 December 1994, its base value being 1,000 points. sWIG80 values are cal-culated on the basis of share prices for 80 listed companies. This index is published from the start until the close of session at one-minute intervals.

sWIG80 is a price index, which means that in-come from dividends and pre-emptive rights is not taken into account in its calculation. Changes to its composition are made four times a year. The annual review is conducted in March, whereas quarterly adjustments take place in June, September and December.

The list of constituent companies of this in-dex is drawn up from a special list covering companies with free float exceeding 10% and EUR 1 million, not in a special situation (as defined in the WSE Rules), not classified to either MINUS 5 or ALERT LIST, and not part of the Lower Liquidity Zone. Compa-nies selected according to this method are then ranked by turnover value for the last 12 months (weight 0.6) and free float value (weight 0.4). The index covers companies which ranked 65 to 145 in the case of a re-view, and ranked 70 to 155 in the case of an adjustment.


The sWIG80 index in 2012

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

10 500

10 000

9 500

9 000

8 500

10 536.2915 Mar

8 567.889 Jan

95

Fact Book 2013

The sWIG80 index portfolio (end of 2012)


Market value Share in sWIG80

(PLN) (PLN) (%) 1 APATOR 32.63 25 333 000 826 615 790 4.74 2 ZEPAK 28.45 25 825 000 734 721 250 4.21 3 KOGENERA 86.50 7 450 000 644 425 000 3.69 4 WAWEL 798.00 718 000 572 964 000 3.28 5 INTEGERPL 184.50 3 021 000 557 374 500 3.19 6 FAMUR 4.77 110 906 000 529 021 620 3.03 7 MENNICA 22.66 22 376 000 507 040 160 2.90 8 ELBUDOWA 106.50 4 748 000 505 662 000 2.90 9 SANOK 18.15 23 391 000 424 546 650 2.43 10 NFIEMF 16.65 24 946 000 415 350 900 2.38 11 BANKBPH 48.89 8 318 000 406 667 020 2.33 12 FARMACOL 32.59 11 602 000 378 109 180 2.17 13 KOFOLA 27.50 13 089 000 359 947 500 2.06 14 OPENFIN 14.00 24 750 000 346 500 000 1.99 15 COMARCH 73.50 4 586 000 337 071 000 1.93 16 STALPROD 184.00 1 796 000 330 464 000 1.89 17 ZELMER 39.28 7 807 000 306 658 960 1.76 18 BOS 30.00 9 921 000 297 630 000 1.71 19 PELION 30.50 9 620 000 293 410 000 1.68 20 DEBICA 61.00 4 686 000 285 846 000 1.6421 ATM 10.39 26 402 000 274 316 780 1.57 22 COMP 59.40 4 386 000 260 528 400 1.4923 PEP 28.70 9 002 000 258 357 400 1.48 24 LCCORP 1.17 218 432 000 255 565 440 1.46 25 ASSECOSLO 19.51 12 800 000 249 728 000 1.43 26 AMICA 54.65 4 443 000 242 809 950 1.3927 ABPL 19.44 11 927 000 231 860 880 1.33 28 RAFAKO 8.39 27 404 000 229 919 560 1.3229 DOMDEV 34.19 6 694 000 228 867 860 1.31 30 GRAJEWO 13.15 17 316 000 227 705 400 1.30 31 KREZUS 18.40 12 209 000 224 645 600 1.29 32 MCI 6.37 34 286 000 218 401 820 1.2533 IPOPEMA 8.89 23 533 000 209 208 370 1.20 34 SNIEZKA 39.39 5 026 000 197 974 140 1.13 35 ASSECOBS 10.75 17 890 000 192 317 500 1.10 36 NEUCA 95.50 1 943 000 185 556 500 1.0637 BENEFIT 230.00 802 000 184 460 000 1.06 38 ALCHEMIA 5.00 36 441 000 182 205 000 1.0439 SYGNITY 14.45 11 809 000 170 640 050 0.98 40 ACTION 22.40 7 557 000 169 276 800 0.97

96

WSE Main List


Market value Share in sWIG80

(PLN) (PLN) (%)

41 POLICE 12.39 13 586 000 168 330 540 0.9642 POLNORD 10.40 15 839 000 164 725 600 0.94 43 FORTE 12.90 12 724 000 164 139 600 0.94 44 LENTEX 4.90 32 945 000 161 430 500 0.93 45 IMCOMPANY 16.35 9 809 000 160 377 150 0.92 46 RADPOL 8.00 19 627 000 157 016 000 0.90 47 BBIDEVNFI 0.38 407 046 000 154 677 480 0.89 48 WIELTON 4.25 36 150 000 153 637 500 0.8849 CITYINTER 24.34 6 303 000 153 415 020 0.88 50 MERCOR 14.80 9 922 000 146 845 600 0.8451 OVOSTAR 89.00 1 500 000 133 500 000 0.77 52 IMPEL 30.74 4 266 000 131 136 840 0.7553 ZPUE 247.90 522 000 129 403 800 0.74 54 MOSTALWAR 12.55 9 981 000 125 261 550 0.72 55 MILKILAND 14.50 8 426 000 122 177 000 0.70 56 COLIAN 2.18 55 772 000 121 582 960 0.7057 RANKPROGR 11.02 10 805 000 119 071 100 0.68 58 KREDYTIN 12.80 8 973 000 114 854 400 0.6659 VISTULA 1.08 100 261 000 108 281 880 0.62 60 ACE 5.70 18 800 000 107 160 000 0.61 61 COALENERG 9.53 11 253 000 107 241 090 0.61 62 EKOEXPORT 14.85 7 035 000 104 469 750 0.6063 ORZBIALY 15.77 6 534 000 103 041 180 0.59 64 IZOSTAL 7.50 13 005 000 97 537 500 0.5665 SKOTAN 4.08 23 372 000 95 357 760 0.55 66 CALATRAVA 0.38 245 220 000 93 183 600 0.5367 MOSTALZAB 1.14 72 000 000 82 080 000 0.47 68 JWCONSTR 4.04 20 091 000 81 167 640 0.4769 DUDA 0.39 199 109 000 77 652 510 0.45 70 AGROTON 10.00 6 610 000 66 100 000 0.38 71 MNI 1.47 44 666 000 65 659 020 0.38 72 GANT 3.90 15 836 000 61 760 400 0.3573 TRAKCJA 0.59 102 298 000 60 355 820 0.35 74 URSUS 3.46 7 319 000 25 323 740 0.1575 SADOVAYA 2.07 10 771 000 22 295 970 0.13 76 EFH 0.18 103 138 000 18 564 840 0.1177 ATLANTIS 0.13 128 520 000 16 707 600 0.10 78 FON 0.10 114 241 000 11 424 100 0.0779 IFCAPITAL 0.36 29 348 000 10 565 280 0.06 80 POLJADLO 0.19 34 280 000 6 513 200 0.04

The sWIG80 index portfolio (end of 2012) (contd.)

97

Fact Book 2013

The WIG-Plus IndexWIG-Plus covers the smallest listed compa-nies. The WSE started publishing this index on 1 December 2011 and its base value on 31 December 2009 was 1,000 points. The value of this index is calculated on the basis of share prices of constituent companies.

This index is published from the start until the close of session at one-minute intervals. WIG-Plus is a price index, which means that income from dividends and pre-emptive rights is not taken into account in its calcula-tion. Changes to its composition are made four times a year. The annual review is con-ducted in March, whereas quarterly adjust-ments take place in June, September and December.

The list of constituent companies of this in-dex is drawn up from a special list covering companies with free float exceeding 10% and EUR 1 million, not in a special situation (as defined in the WSE Rules), not classified to either MINUS 5 or ALERT LIST, and not part of the Lower Liquidity Zone. Compa-nies selected according to this method are then ranked by turnover value for the last 12 months (weight 0.6) and free float value (weight 0.4). The index covers companies which made it to this list, were not classi-fied to WIG20, mWIG40 or sWIG80 but were included in the 5 PLUS segment.


The WIG-Plus index in 2012

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

1 000

900

800

700

600

690.1514 Aug

899.5321 Feb

98

WSE Main List

The WIG-Plus index portfolio (end of 2012)


Market value Share in WIG-Plus

(PLN) (PLN) (%) 1 ZETKAMA 41.38 3 289 000 136 098 820 2.29 2 PTI 15.95 7 408 000 118 157 600 1.99 3 AVIASG 60.00 1 884 000 113 040 000 1.90 4 ALMA 27.00 3 993 000 107 811 000 1.81 5 INSTALKRK 17.15 6 190 000 106 158 500 1.79 6 PANOVA 19.00 5 552 000 105 488 000 1.77 7 ARMATURA 1.22 80 619 000 98 355 180 1.65 8 QUMAKSEK 9.31 10 375 000 96 591 250 1.62 9 FERRO 6.20 15 082 000 93 508 400 1.57 10 EMCINSMED 15.95 5 369 000 85 635 550 1.44 11 QUERCUS 2.46 33 631 000 82 732 260 1.39 12 VOXEL 18.10 4 559 000 82 517 900 1.39 13 AMBRA 8.09 9 800 000 79 282 000 1.33 14 PAGED 15.14 5 128 000 77 637 920 1.31 15 ASBIS 2.88 26 624 000 76 677 120 1.29 16 APLISENS 14.49 5 224 000 75 695 760 1.27 17 TIM 5.22 14 277 000 74 525 940 1.25 18 ENERGOINS 14.50 5 064 000 73 428 000 1.24 19 NOWAGALA 1.96 36 623 000 71 781 080 1.21 20 ERBUD 13.95 4 903 000 68 396 850 1.1521 OTMUCHOW 10.70 6 257 000 66 949 900 1.13 22 BARLINEK 0.90 72 086 000 64 877 400 1.0923 ADVGRUPA 13.12 4 933 000 64 720 960 1.09 24 UNIBEP 5.05 12 792 000 64 599 600 1.09 25 POZBUD 3.40 18 500 000 62 900 000 1.06 26 PEKAES 5.50 11 289 000 62 089 500 1.0427 MIESZKO 4.36 13 935 000 60 756 600 1.02 28 ELEKTROTI 8.60 7 027 000 60 432 200 1.0229 KINOPOL 13.55 4 441 000 60 175 550 1.01 30 GRAAL 14.95 3 975 000 59 426 250 1.00 31 ULMA 43.85 1 288 000 56 478 800 0.95 32 OPONEO.PL 7.00 7 841 000 54 887 000 0.9233 HYDROTOR 26.94 2 027 000 54 607 380 0.92 34 ERGIS 3.34 16 213 000 54 151 420 0.91 35 PEPEES 0.89 60 343 000 53 705 270 0.90 36 KONSSTALI 24.85 2 139 000 53 154 150 0.8937 MIRBUD 1.23 42 899 000 52 765 770 0.89 38 ENERGOPOL 8.44 6 207 000 52 387 080 0.8839 BSCDRUK 17.20 3 032 000 52 150 400 0.88 40 LUBAWA 0.70 74 528 000 52 169 600 0.88

99

Fact Book 2013



(PLN) (PLN) (%)

41 COGNOR 2.18 22 531 000 49 117 580 0.8342 PGODLEW 1.85 26 306 000 48 666 100 0.82 43 PROTEKTOR 4.04 12 033 000 48 613 320 0.82 44 PROJPRZEM 8.80 5 471 000 48 144 800 0.81 45 DECORA 8.50 5 572 000 47 362 000 0.80 46 PLASTBOX 2.45 19 178 000 46 986 100 0.79 47 RELPOL 8.06 5 829 000 46 981 740 0.79 48 IDEON 0.16 293 319 000 46 931 040 0.7949 PCGUARD 1.91 23 938 000 45 721 580 0.77 50 LIBET 1.98 22 915 000 45 371 700 0.7651 RONSON 0.81 55 662 000 45 086 220 0.76 52 BERLING 6.60 6 730 000 44 418 000 0.7553 WARIMPEX 3.90 11 350 000 44 265 000 0.74 54 BLACKLION 0.76 58 068 000 44 131 680 0.74 55 HARPER 1.73 25 500 000 44 115 000 0.74 56 WASKO 2.51 17 393 000 43 656 430 0.7357 INDYKPOL 35.70 1 166 000 41 626 200 0.70 58 SELENAFM 7.94 5 246 000 41 653 240 0.7059 PROCHEM 16.14 2 550 000 41 157 000 0.69 60 ARTERIA 13.43 3 020 000 40 558 600 0.68 61 TOYA 2.40 16 402 000 39 364 800 0.66 62 ZUE 6.54 6 000 000 39 240 000 0.6663 HERKULES 1.28 30 390 000 38 899 200 0.65 64 ZASTAL 1.88 20 435 000 38 417 800 0.6565 ENELMED 4.10 9 319 000 38 207 900 0.64 66 ATMGRUPA 1.02 36 892 000 37 629 840 0.6367 TELL 10.00 3 716 000 37 160 000 0.63 68 ESSYSTEM 2.50 13 646 000 34 115 000 0.5769 KANIA 1.80 18 504 000 33 307 200 0.56 70 FASING 26.67 1 239 000 33 044 130 0.56 71 INPRO 3.23 10 010 000 32 332 300 0.54 72 GROCLIN 12.66 2 550 000 32 283 000 0.5473 ROPCZYCE 17.20 1 845 000 31 734 000 0.53 74 LENA 3.00 10 150 000 30 450 000 0.5175 ATMSI 1.23 24 471 000 30 099 330 0.51 76 STAPORKOW 20.47 1 471 000 30 111 370 0.5177 KRAKCHEM 5.90 5 000 000 29 500 000 0.50 78 NETMEDIA 4.30 6 815 000 29 304 500 0.4979 HUTMEN 3.29 8 900 000 29 281 000 0.49 80 4FUNMEDIA 20.20 1 444 000 29 168 800 0.49

The WIG-Plus index portfolio (end of 2012) (contd.)

100

WSE Main List



(PLN) (PLN) (%)

81 PRESCO 7.28 3 686 000 26 834 080 0.4582 INTROL 4.45 5 995 000 26 677 750 0.4583 RAINBOW 4.13 6 344 000 26 200 720 0.4484 BUMECH 6.19 4 191 000 25 942 290 0.4485 K2INTERNT 16.99 1 493 000 25 366 070 0.4386 KDMSHIPNG 25.10 996 000 24 999 600 0.4287 REMAK 16.20 1 521 000 24 640 200 0.4188 FAM 1.47 16 522 000 24 287 340 0.4189 MWTRADE 9.80 2 476 000 24 264 800 0.4190 NOKAUT 6.59 3 676 000 24 224 840 0.4191 HYGIENIKA 1.26 18 704 000 23 567 040 0.4092 SONEL 4.91 4 794 000 23 538 540 0.4093 EUROTEL 17.30 1 304 000 22 559 200 0.3894 NOVITA 22.60 975 000 22 035 000 0.3795 MCLOGIC 32.00 681 000 21 792 000 0.3796 MOSTALPLC 21.00 1 027 000 21 567 000 0.3697 PROCHNIK 0.24 89 131 000 21 391 440 0.3698 INVESTCON 0.97 21 742 000 21 089 740 0.3699 TESGAS 3.32 6 164 000 20 464 480 0.34100 PRAGMAINK 19.17 1 032 000 19 783 440 0.33101 CAPITAL 1.37 14 369 000 19 685 530 0.33102 BOWIM 4.23 4 647 000 19 656 810 0.33103 SUWARY 17.79 1 101 000 19 586 790 0.33104 MIT 0.34 55 718 000 18 944 120 0.32105 KREC 3.40 5 463 000 18 574 200 0.31106 MONNARI 1.15 15 990 000 18 388 500 0.31107 EUCO 10.14 1 797 000 18 221 580 0.31108 PAMAPOL 2.74 6 642 000 18 199 080 0.31109 GINOROSSI 0.98 18 513 000 18 142 740 0.31110 MOBRUK 50.00 356 000 17 800 000 0.30111 BAKALLAND 2.69 6 520 000 17 538 800 0.30112 IVMX 4.95 3 516 000 17 404 200 0.29113 JUPITER 0.66 25 789 000 17 020 740 0.29114 WIKANA 0.40 42 545 000 17 018 000 0.29115 ODLEWNIE 1.96 8 487 000 16 634 520 0.28116 PBSFINANSE 0.42 37 363 000 15 692 460 0.26117 ATREM 3.90 3 999 000 15 596 100 0.26118 VANTAGE 1.31 11 762 000 15 408 220 0.26119 TRANSPOL 5.78 2 631 000 15 207 180 0.26120 CHEMOS 0.19 79 123 000 15 033 370 0.25


101

Fact Book 2013



(PLN) (PLN) (%)

121 TRITON 1.13 13 190 000 14 904 700 0.25122 BBICAPNFI 0.71 20 702 000 14 698 420 0.25123 SIMPLE 7.23 2 031 000 14 684 130 0.25124 INTERFERI 5.22 2 770 000 14 459 400 0.24125 TUP 1.93 7 353 000 14 191 290 0.24126 DUON 0.69 19 945 000 13 762 050 0.23127 SWISSMED 0.57 24 092 000 13 732 440 0.23128 NTTSYSTEM 0.72 18 924 000 13 625 280 0.23129 KOMPUTRON 5.37 2 525 000 13 559 250 0.23130 MOSTALEXP 0.35 38 634 000 13 521 900 0.23131 MAKRUM 1.03 12 926 000 13 313 780 0.22132 BIPROMET 6.30 2 108 000 13 280 400 0.22133 YAWAL 5.35 2 483 000 13 284 050 0.22134 CAMMEDIA 3.02 4 285 000 12 940 700 0.22135 BYTOM 0.25 51 250 000 12 812 500 0.22136 VOTUM 4.64 2 756 000 12 787 840 0.22137 BBIZENNFI 0.18 70 130 000 12 623 400 0.21138 FOTA 4.20 2 914 000 12 238 800 0.21139 06MAGNA 0.23 52 420 000 12 056 600 0.20140 RAFAMET 17.66 667 000 11 779 220 0.20141 BMPAG 2.46 4 757 000 11 702 220 0.20142 PATENTUS 1.91 6 055 000 11 565 050 0.19143 SFINKS 0.94 11 981 000 11 262 140 0.19144 REDAN 0.85 12 957 000 11 013 450 0.19145 DROZAPOL 0.77 14 176 000 10 915 520 0.18146 VINDEXUS 2.99 3 589 000 10 731 110 0.18147 CCENERGY 0.20 53 299 000 10 659 800 0.18148 EDINVEST 4.00 2 593 000 10 372 000 0.17149 POLNA 13.09 791 000 10 354 190 0.17150 RUBICON 0.20 51 491 000 10 298 200 0.17151 MAKARONPL 2.15 4 707 000 10 120 050 0.17152 MIRACULUM 0.11 89 325 000 9 825 750 0.17153 KOMPAP 5.97 1 595 000 9 522 150 0.16154 JHMDEV 0.32 28 133 000 9 002 560 0.15155 PRAGMAFA 16.35 528 000 8 632 800 0.15156 WOJAS 4.10 2 047 000 8 392 700 0.14157 ATLANTAPL 3.15 2 618 000 8 246 700 0.14158 WESTAISIC 0.74 11 033 000 8 164 420 0.14159 DROP 9.00 868 000 7 812 000 0.13160 WADEX 10.78 711 000 7 664 580 0.13


102

WSE Main List



(PLN) (PLN) (%)

161 INTERSPPL 2.95 2 590 000 7 640 500 0.13162 DMWDM 0.24 31 511 000 7 562 640 0.13163 IDEATFI 1.47 5 062 000 7 441 140 0.13164 AWBUD 0.62 11 931 000 7 397 220 0.12165 HYPERION 2.09 3 290 000 6 876 100 0.12166 INTERBUD 2.86 2 341 000 6 695 260 0.11167 ENERGOPLD 0.26 24 950 000 6 487 000 0.11168 KBDOM 0.17 35 951 000 6 111 670 0.10169 HELIO 5.21 1 143 000 5 955 030 0.10170 TERESA 13.22 448 000 5 922 560 0.10171 FASTFIN 0.38 14 968 000 5 687 840 0.10172 ELKOP 0.13 36 733 000 4 775 290 0.08173 KPPD 24.31 189 000 4 594 590 0.08174 COMPLEX 0.88 4 084 000 3 593 920 0.06175 MEXPOLSKA 2.35 1 492 000 3 506 200 0.06176 AGROWILL 0.60 5 738 000 3 442 800 0.06177 BUDVARCEN 1.69 2 050 000 3 464 500 0.06


103

Fact Book 2013

WIGdivWIGdiv is the first index of dividend-paying companies from the Main List. In order to become a constituent of this index, compa-nies must belong to either WIG20, mWIG40 or sWIG80, have the highest dividend yield in the last accounting year and regularly paid dividends in the last five years. WIGdiv has been calculated since 4 January 2012 and its base value was defined on 31 December 2010 as 1,000 points. The index comprises shares of 30 companies and is published from the start until the close of session at one-minute intervals.

WIGdiv is a total return index, which means that income from dividends and pre-emp-tive rights is also taken into account for its calculation.

Changes to the composition of this index are made four times a year. An inventory of all listed companies is compiled after the

last session in August and they are ordered by the dividend yield. The index comprises companies with the highest dividend yield which paid dividends at least three times during the last five years. The weights of in-dex constituents are updated after the last session of February, May, August and No-vember. Company shares in this index are determined on the basis of the number of shares in free float. As an additional require-ment, one company may have no more than a 10% share in this index. The new WIGdiv portfolio comes into force after the third Friday of March, June, September and De-cember.

The WIGdiv index in 2012

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

1 100

1 000

900

800

700

1 106.1727 Dec

882.2325 May

104

WSE Main List

The WIGdiv index portfolio (end of 2012)


Market value Share in WIGdiv

(PLN) (PLN) (%) 1 PZU 437.00 15 609 000 6 821 133 000 10.58 2 KGHM 190.00 34 477 000 6 550 630 000 10.16 3 PEKAO 167.50 39 068 000 6 543 890 000 10.15 4 PKOBP 36.90 177 044 000 6 532 923 600 10.13 5 TPSA 12.23 522 131 000 6 385 662 130 9.90 6 PGE 18.21 335 940 000 6 117 467 400 9.49 7 BOGDANKA 136.00 33 979 000 4 621 144 000 7.17 8 JSW 92.40 37 704 000 3 483 849 600 5.40 9 HANDLOWY 98.30 32 665 000 3 210 969 500 4.98 10 ASSECOPOL 45.35 69 483 000 3 151 054 050 4.89 11 ENEA 15.73 131 913 000 2 074 991 490 3.22 12 KETY 144.90 9 226 000 1 336 847 400 2.07 13 GPW 38.87 27 123 000 1 054 271 010 1.64 14 PULAWY 137.50 6 474 000 890 175 000 1.38 15 EMPERIA 57.95 15 115 000 875 914 250 1.36 16 BUDIMEX 70.00 10 452 000 731 640 000 1.13 17 KOGENERA 86.50 7 450 000 644 425 000 1.00 18 ELBUDOWA 106.50 4 748 000 505 662 000 0.78 19 AGORA 10.38 45 245 000 469 643 100 0.73 20 SANOK 18.15 23 601 000 428 358 150 0.6621 ZELMER 39.28 7 807 000 306 658 960 0.48 22 ASSECOSLO 19.51 12 800 000 249 728 000 0.3923 DOMDEV 34.19 6 694 000 228 867 860 0.36 24 IPOPEMA 8.89 23 533 000 209 208 370 0.32 25 SNIEZKA 39.39 5 026 000 197 974 140 0.31 26 ASSECOBS 10.75 17 890 000 192 317 500 0.3027 BENEFIT 230.00 802 000 184 460 000 0.29 28 ACTION 22.40 7 557 000 169 276 800 0.2629 FORTE 12.90 12 724 000 164 139 600 0.26 30 RADPOL 8.00 19 627 000 157 016 000 0.24

105

Fact Book 2013

The WIG IndexCalculated since the first ever WSE session on 16 April 1991, the WIG is the oldest of all WSE indices. Its portfolio covers all listed companies except those whose free float is under 10% and EUR 1 million and those in a special situation (as defined in the WSE Rules).

The base value of the WIG is 1,000 points. Its values are calculated on the basis of share prices for all constituent companies. This index is published from the start until the close of session at one-minute intervals.

The WIG is a total return index, which means that income from dividends and pre-emp-tive rights is also taken into account for its

calculation. Changes to the composition of the WIG are made four times a year. An in-ventory of all listed companies is compiled after the last session in February, May, Au-gust and November. The inventory does not cover companies which fail to meet essen-tial participation requirements. Company shares in this index are determined on the basis of the number of shares in free float. As an additional requirement, one compa-ny may have no more than a 10% share in this index, whereas the share of one sector may not exceed 30%. The new WIG portfo-lio comes into force after the third Friday of March, June, September and December.

The WIG index in 2012

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

50 000

45 000

40 000

35 000

30 000

36 653.285 Jun

47 920.7519 Dec

106

WSE Main List

The WIG index portfolio (end of 2012)

No. Shares Price of shares

Number of shares in portfolio

Market value Share in WIG

(PLN) (PLN) (%)1 KGHM 190.00 129 976 000 24 695 440 000 10.002 PKOBP 36.90 667 437 000 24 628 425 300 9.973 PZU 437.00 55 967 000 24 457 579 000 9.904 PEKAO 167.50 106 988 000 17 920 490 000 7.255 PKNORLEN 49.50 309 999 000 15 344 950 500 6.216 PGE 18.21 712 636 000 12 977 101 560 5.257 PGNIG 5.21 1 628 148 000 8 482 651 080 3.438 TPSA 12.23 647 357 000 7 917 176 110 3.209 TAURONPE 4.75 1 043 555 000 4 956 886 250 2.01

10 BOGDANKA 136.00 33 979 000 4 621 144 000 1.8711 LPP 4550.00 930 000 4 231 500 000 1.7112 BRE 326.00 12 786 000 4 168 236 000 1.6913 JSW 92.40 37 704 000 3 483 849 600 1.4114 EUROCASH 43.70 77 270 000 3 376 699 000 1.3715 KERNEL 66.75 49 223 000 3 285 635 250 1.3316 HANDLOWY 98.30 32 665 000 3 210 969 500 1.3017 ASSECOPOL 45.35 69 483 000 3 151 054 050 1.2818 INGBSK 91.00 32 525 000 2 959 775 000 1.2019 CYFRPLSAT 16.41 168 807 000 2 770 122 870 1.1220 SYNTHOS 5.41 496 691 000 2 687 098 310 1.0921 LOTOS 41.20 60 797 000 2 504 836 400 1.0122 GTC 9.90 230 737 000 2 284 296 300 0.9323 GETINOBLE 1.79 1 191 982 000 2 133 647 780 0.8624 ENEA 15.73 131 913 000 2 074 991 490 0.8425 KRKA 220.00 8 817 000 1 939 740 000 0.7926 AZOTYTARNOW 53.90 35 085 000 1 891 081 500 0.7727 MILLENNIUM 4.42 418 366 000 1 849 177 720 0.7528 ALIOR 62.65 28 332 000 1 774 999 800 0.7229 NETIA 4.28 371 388 000 1 589 540 640 0.6430 TVN 9.92 158 105 000 1 568 401 600 0.6431 CCC 73.00 20 030 000 1 462 190 000 0.5932 AMREST 96.20 14 216 000 1 367 579 200 0.5533 KETY 144.90 9 226 000 1 336 847 400 0.5434 NEWWORLDR 15.80 77 842 000 1 229 903 600 0.5035 ECHO 5.05 233 735 000 1 180 361 750 0.4836 GPW 38.87 27 123 000 1 054 271 010 0.4337 GETIN 2.82 324 766 000 915 840 120 0.3738 CEZ 110.00 8 163 000 897 930 000 0.3639 KREDYTB 16.50 54 332 000 896 478 000 0.3640 PULAWY 137.50 6 474 000 890 175 000 0.3641 EMPERIA 57.95 15 115 000 875 914 250 0.3642 APATOR 32.63 25 333 000 826 615 790 0.34

107

Fact Book 2013




(PLN) (PLN) (%)43 ORBIS 38.00 21 801 000 828 438 000 0.3444 MOL 249.40 3 099 000 772 890 600 0.3145 ZEPAK 28.45 25 825 000 734 721 250 0.3046 BUDIMEX 70.00 10 452 000 731 640 000 0.3047 CIECH 22.20 32 292 000 716 882 400 0.2948 INTERCARS 86.00 8 253 000 709 758 000 0.2949 KOGENERA 86.50 7 450 000 644 425 000 0.2650 CCIINT 26.00 23 610 000 613 860 000 0.2551 BORYSZEW 0.62 969 028 000 600 797 360 0.2452 WAWEL 798.00 718 000 572 964 000 0.2353 INTEGERPL 184.50 3 021 000 557 374 500 0.2354 KOPEX 17.70 30 713 000 543 620 100 0.2255 FAMUR 4.77 110 906 000 529 021 620 0.2156 BIOTON 0.10 5 216 479 000 521 647 900 0.2157 ASTARTA 55.00 9 256 000 509 080 000 0.2158 ELBUDOWA 106.50 4 748 000 505 662 000 0.2159 MENNICA 22.66 22 376 000 507 040 160 0.2160 AGORA 10.38 45 245 000 469 643 100 0.1961 KRUK 44.06 10 078 000 444 036 680 0.1862 SANOK 18.15 23 601 000 428 358 150 0.1763 NFIEMF 16.65 24 946 000 415 350 900 0.1764 BANKBPH 48.89 8 318 000 406 667 020 0.1765 FARMACOL 32.59 11 602 000 378 109 180 0.1566 KOFOLA 27.50 13 089 000 359 947 500 0.1567 OPENFIN 14.00 24 750 000 346 500 000 0.1468 CDPROJEKT 6.20 55 376 000 343 331 200 0.1469 IMPEXMET 3.50 98 000 000 343 000 000 0.1470 COMARCH 73.50 4 586 000 337 071 000 0.1471 STALPROD 184.00 1 796 000 330 464 000 0.1372 MIDAS 0.65 503 124 000 327 030 600 0.1373 POLIMEXMS 0.62 521 117 000 323 092 540 0.1374 ZELMER 39.28 7 807 000 306 658 960 0.1275 CORMAY 12.93 23 135 000 299 135 550 0.1276 BOS 30.00 9 921 000 297 630 000 0.1277 PELION 30.50 9 591 000 292 525 500 0.1278 DEBICA 61.00 4 686 000 285 846 000 0.1279 KOV 1.31 214 321 000 280 760 510 0.1180 COMP 59.40 4 386 000 260 528 400 0.1181 PEP 28.70 9 002 000 258 357 400 0.1182 LCCORP 1.17 218 432 000 255 565 440 0.1083 ASSECOSLO 19.51 12 800 000 249 728 000 0.1084 ATM 10.39 24 013 000 249 495 070 0.10

The WIG index portfolio (end of 2012) (contd.)

108

WSE Main List




(PLN) (PLN) (%)85 AMICA 54.65 4 443 000 242 809 950 0.1086 ABPL 19.44 11 927 000 231 860 880 0.0987 DOMDEV 34.19 6 694 000 228 867 860 0.0988 RAFAKO 8.39 27 404 000 229 919 560 0.0989 GRAJEWO 13.15 17 316 000 227 705 400 0.0990 HAWE 3.80 58 937 000 223 960 600 0.0991 KREZUS 18.40 12 080 000 222 272 000 0.0992 MCI 6.37 34 271 000 218 306 270 0.0993 UNICREDIT 15.69 13 516 000 212 066 040 0.0994 IPOPEMA 8.89 23 533 000 209 208 370 0.0995 SNIEZKA 39.39 5 026 000 197 974 140 0.0896 ASSECOBS 10.75 17 890 000 192 317 500 0.0897 NEUCA 95.50 1 968 000 187 944 000 0.0898 BENEFIT 230.00 802 000 184 460 000 0.0899 POLNORD 10.40 17 673 000 183 799 200 0.07

100 ALCHEMIA 5.00 36 207 000 181 035 000 0.07101 PEGAS 77.00 2 354 000 181 258 000 0.07102 ROVESE 1.42 123 345 000 175 149 900 0.07103 ACTION 22.40 7 557 000 169 276 800 0.07104 SYGNITY 14.45 11 809 000 170 640 050 0.07105 POLICE 12.39 13 586 000 168 330 540 0.07106 FORTE 12.90 12 724 000 164 139 600 0.07107 IMCOMPANY 16.35 9 809 000 160 377 150 0.07108 LENTEX 4.90 32 945 000 161 430 500 0.07109 PETROLINV 1.40 113 902 000 159 462 800 0.07110 PLAZACNTR 1.41 111 384 000 157 051 440 0.06111 RADPOL 8.00 19 627 000 157 016 000 0.06112 BBIDEVNFI 0.38 407 046 000 154 677 480 0.06113 ASSECOSEE 9.20 16 750 000 154 100 000 0.06114 CITYINTER 24.34 6 303 000 153 415 020 0.06115 WIELTON 4.25 36 150 000 153 637 500 0.06116 MERCOR 14.80 9 922 000 146 845 600 0.06117 ZETKAMA 41.38 3 289 000 136 098 820 0.06118 OVOSTAR 89.00 1 500 000 133 500 000 0.05119 IMPEL 30.74 4 266 000 131 136 840 0.05120 SECOGROUP 35.21 3 726 000 131 192 460 0.05121 ZPUE 247.90 522 000 129 403 800 0.05122 COLIAN 2.18 57 722 000 125 833 960 0.05123 MOSTALWAR 12.55 9 981 000 125 261 550 0.05124 STALPROFI 16.76 7 536 000 126 303 360 0.05125 MILKILAND 14.50 8 426 000 122 177 000 0.05126 KOELNER 8.80 13 457 000 118 421 600 0.05


109

Fact Book 2013




(PLN) (PLN) (%)127 PTI 15.95 7 408 000 118 157 600 0.05128 RANKPROGR 11.02 10 843 000 119 489 860 0.05129 STALEXP 1.40 84 947 000 118 925 800 0.05130 AVIASG 60.00 1 884 000 113 040 000 0.05131 CALATRAVA 0.38 300 302 000 114 114 760 0.05132 KREDYTIN 12.80 8 973 000 114 854 400 0.05133 ALMA 27.00 3 993 000 107 811 000 0.04134 VISTULA 1.08 100 261 000 108 281 880 0.04135 ACE 5.70 18 800 000 107 160 000 0.04136 COALENERG 9.53 11 253 000 107 241 090 0.04137 INSTALKRK 17.15 6 190 000 106 158 500 0.04138 INTERAOLT 26.64 4 000 000 106 560 000 0.04139 PANOVA 19.00 5 552 000 105 488 000 0.04140 EKOEXPORT 14.85 7 035 000 104 469 750 0.04141 ORZBIALY 15.77 6 534 000 103 041 180 0.04142 ARMATURA 1.22 80 619 000 98 355 180 0.04143 CEDC 6.20 15 930 000 98 766 000 0.04144 FORTUNA 13.50 7 315 000 98 752 500 0.04145 WORKSERV 5.65 17 709 000 100 055 850 0.04146 IZOSTAL 7.50 13 005 000 97 537 500 0.04147 QUMAKSEK 9.31 10 375 000 96 591 250 0.04148 SKOTAN 4.08 23 372 000 95 357 760 0.04149 FERRO 6.20 15 080 000 93 496 000 0.04150 MAGELLAN 42.50 2 102 000 89 335 000 0.04151 SILVANO 12.00 7 336 000 88 032 000 0.04152 EMCINSMED 15.95 5 369 000 85 635 550 0.04153 NOVAKBM 4.97 17 211 000 85 538 670 0.04154 MOSTALZAB 1.14 72 870 000 83 071 800 0.03155 ARCTIC 5.86 13 962 000 81 817 320 0.03156 JWCONSTR 4.04 20 091 000 81 167 640 0.03157 QUERCUS 2.46 33 631 000 82 732 260 0.03158 VOXEL 18.10 4 559 000 82 517 900 0.03159 AMBRA 8.09 9 800 000 79 282 000 0.03160 APLISENS 14.49 5 224 000 75 695 760 0.03161 ASBIS 2.88 26 624 000 76 677 120 0.03162 DUDA 0.39 199 109 000 77 652 510 0.03163 PAGED 15.14 5 128 000 77 637 920 0.03164 ABCDATA 2.08 35 321 000 73 467 680 0.03165 ENERGOINS 14.50 5 064 000 73 428 000 0.03166 TIM 5.22 14 277 000 74 525 940 0.03167 NOWAGALA 1.96 36 521 000 71 581 160 0.03168 ERBUD 13.95 4 903 000 68 396 850 0.03


110

WSE Main List




(PLN) (PLN) (%)169 KRUSZWICA 28.40 2 418 000 68 671 200 0.03170 ZAMET 2.65 26 306 000 69 710 900 0.03171 AGROTON 10.00 6 610 000 66 100 000 0.03172 MNI 1.47 44 666 000 65 659 020 0.03173 OTMUCHOW 10.70 6 257 000 66 949 900 0.03174 SOLAR 5.60 12 010 000 67 256 000 0.03175 ADVGRUPA 13.12 4 933 000 64 720 960 0.03176 BARLINEK 0.90 72 086 000 64 877 400 0.03177 GANT 3.90 16 771 000 65 406 900 0.03178 TRAKCJA 0.59 108 205 000 63 840 950 0.03179 UNIBEP 5.05 12 792 000 64 599 600 0.03180 MIESZKO 4.36 13 935 000 60 756 600 0.03181 PEKAES 5.50 11 289 000 62 089 500 0.03182 POZBUD 3.40 18 500 000 62 900 000 0.03183 ELEKTROTI 8.60 7 027 000 60 432 200 0.02184 FERRUM 7.45 8 083 000 60 218 350 0.02185 GRAAL 14.95 3 975 000 59 426 250 0.02186 KINOPOL 13.55 4 441 000 60 175 550 0.02187 KSGAGRO 11.60 5 126 000 59 461 600 0.02188 ROBYG 1.43 42 050 000 60 131 500 0.02189 ACAUTOGAZ 24.50 2 343 000 57 403 500 0.02190 ULMA 43.85 1 288 000 56 478 800 0.02191 ERGIS 3.34 16 213 000 54 151 420 0.02192 HYDROTOR 26.94 2 027 000 54 607 380 0.02193 KONSSTALI 24.85 2 139 000 53 154 150 0.02194 OPONEO.PL 7.00 7 841 000 54 887 000 0.02195 PEPEES 0.89 60 343 000 53 705 270 0.02196 BSCDRUK 17.20 3 032 000 52 150 400 0.02197 ENERGOPOL 8.44 6 207 000 52 387 080 0.02198 LUBAWA 0.70 74 528 000 52 169 600 0.02199 MIRBUD 1.23 42 899 000 52 765 770 0.02200 COGNOR 2.18 22 531 000 49 117 580 0.02201 PGODLEW 1.85 26 306 000 48 666 100 0.02202 PROTEKTOR 4.04 11 981 000 48 403 240 0.02203 DECORA 8.50 5 572 000 47 362 000 0.02204 IDEON 0.16 293 319 000 46 931 040 0.02205 IDMSA 0.21 218 177 000 45 817 170 0.02206 PLASTBOX 2.45 19 117 000 46 836 650 0.02207 PROJPRZEM 8.80 5 471 000 48 144 800 0.02208 RELPOL 8.06 5 829 000 46 981 740 0.02209 BERLING 6.60 6 730 000 44 418 000 0.02210 BLACKLION 0.76 58 068 000 44 131 680 0.02


111

Fact Book 2013




(PLN) (PLN) (%)211 HARPER 1.73 25 500 000 44 115 000 0.02212 LIBET 1.98 22 915 000 45 371 700 0.02213 RONSON 0.81 55 662 000 45 086 220 0.02214 WARIMPEX 3.90 11 260 000 43 914 000 0.02215 WASKO 2.51 17 393 000 43 656 430 0.02216 INDYKPOL 35.70 1 166 000 41 626 200 0.02217 PCGUARD 1.91 22 237 000 42 472 670 0.02218 PROCHEM 16.14 2 550 000 41 157 000 0.02219 SELENAFM 7.94 5 246 000 41 653 240 0.02220 ARTERIA 13.43 3 020 000 40 558 600 0.02221 HERKULES 1.28 30 390 000 38 899 200 0.02222 TOYA 2.40 16 402 000 39 364 800 0.02223 ZASTAL 1.88 20 435 000 38 417 800 0.02224 ZUE 6.54 6 000 000 39 240 000 0.02225 ATMGRUPA 1.02 36 777 000 37 512 540 0.02226 ENELMED 4.10 9 319 000 38 207 900 0.02227 ESSYSTEM 2.50 13 646 000 34 115 000 0.01228 HYGIENIKA 1.26 26 524 000 33 420 240 0.01229 FASING 26.67 1 239 000 33 044 130 0.01230 GINOROSSI 0.98 31 878 000 31 240 440 0.01231 GROCLIN 12.66 2 550 000 32 283 000 0.01232 INPRO 3.23 10 010 000 32 332 300 0.01233 KANIA 1.80 18 504 000 33 307 200 0.01234 ROPCZYCE 17.20 1 845 000 31 734 000 0.01235 4FUNMEDIA 20.20 1 444 000 29 168 800 0.01236 ATMSI 1.23 24 471 000 30 099 330 0.01237 HUTMEN 3.29 8 900 000 29 281 000 0.01238 LENA 3.00 10 150 000 30 450 000 0.01239 NETMEDIA 4.30 6 815 000 29 304 500 0.01240 SOBIESKI 154.00 187 000 28 798 000 0.01241 STAPORKOW 20.47 1 471 000 30 111 370 0.01242 TELL 10.00 3 085 000 30 850 000 0.01243 BUMECH 6.19 4 192 000 25 948 480 0.01244 INTROL 4.45 5 970 000 26 566 500 0.01245 KRAKCHEM 5.90 4 685 000 27 641 500 0.01246 PCCINTER 1.45 18 757 000 27 197 650 0.01247 PRESCO 7.28 3 686 000 26 834 080 0.01248 CELTIC 4.51 5 444 000 24 552 440 0.01249 FAM 1.47 16 542 000 24 316 740 0.01250 K2INTERNT 16.99 1 493 000 25 366 070 0.01251 KDMSHIPNG 25.10 996 000 24 999 600 0.01252 MWTRADE 9.80 2 476 000 24 264 800 0.01


112

WSE Main List




(PLN) (PLN) (%)253 NOKAUT 6.59 3 676 000 24 224 840 0.01254 RAINBOW 4.13 6 236 000 25 754 680 0.01255 REMAK 16.20 1 521 000 24 640 200 0.01256 SONEL 4.91 4 794 000 23 538 540 0.01257 URSUS 3.46 7 319 000 25 323 740 0.01258 EUROTEL 17.30 1 304 000 22 559 200 0.01259 INVESTCON 0.97 21 742 000 21 089 740 0.01260 MCLOGIC 32.00 681 000 21 792 000 0.01261 MOSTALPLC 21.00 1 027 000 21 567 000 0.01262 NOVITA 22.60 975 000 22 035 000 0.01263 PROCHNIK 0.24 89 100 000 21 384 000 0.01264 SADOVAYA 2.07 10 771 000 22 295 970 0.01265 BOWIM 4.23 4 647 000 19 656 810 0.01266 CAPITAL 1.37 14 369 000 19 685 530 0.01267 EFH 0.18 103 138 000 18 564 840 0.01268 KREC 3.40 5 463 000 18 574 200 0.01269 MIT 0.34 55 718 000 18 944 120 0.01270 PRAGMAINK 19.17 1 032 000 19 783 440 0.01271 TESGAS 3.32 6 164 000 20 464 480 0.01272 ATLANTIS 0.13 128 520 000 16 707 600 0.01273 BAKALLAND 2.69 6 520 000 17 538 800 0.01274 EUCO 10.14 1 797 000 18 221 580 0.01275 IVMX 4.95 3 511 000 17 379 450 0.01276 JUPITER 0.66 25 789 000 17 020 740 0.01277 MOBRUK 50.00 356 000 17 800 000 0.01278 MONNARI 1.15 15 990 000 18 388 500 0.01279 ODLEWNIE 1.96 8 487 000 16 634 520 0.01280 PAMAPOL 2.74 6 642 000 18 199 080 0.01281 SUWARY 17.79 958 000 17 042 820 0.01282 TATRY 183.00 96 000 17 568 000 0.01283 WIKANA 0.40 42 545 000 17 018 000 0.01284 08OCTAVA 0.71 22 310 000 15 840 100 0.01285 ATREM 3.90 3 999 000 15 596 100 0.01286 BBICAPNFI 0.71 20 702 000 14 698 420 0.01287 CHEMOS 0.19 78 323 000 14 881 370 0.01288 DUON 0.69 19 945 000 13 762 050 0.01289 INTERFERI 5.22 2 770 000 14 459 400 0.01290 MOSTALEXP 0.35 39 757 000 13 914 950 0.01291 NTTSYSTEM 0.72 18 924 000 13 625 280 0.01292 PBSFINANSE 0.42 37 363 000 15 692 460 0.01293 SIMPLE 7.23 2 031 000 14 684 130 0.01294 SWISSMED 0.57 24 092 000 13 732 440 0.01


113

Fact Book 2013




(PLN) (PLN) (%)295 TRANSPOL 5.78 2 631 000 15 207 180 0.01296 TRITON 1.13 13 190 000 14 904 700 0.01297 TUP 1.93 7 353 000 14 191 290 0.01298 VANTAGE 1.31 11 762 000 15 408 220 0.01299 06MAGNA 0.23 52 420 000 12 056 600 0.01300 BBIZENNFI 0.18 70 130 000 12 623 400 0.01301 BIPROMET 6.30 2 108 000 13 280 400 0.01302 BMPAG 2.46 4 693 000 11 544 780 0.01303 BYTOM 0.25 51 250 000 12 812 500 0.01304 CAMMEDIA 3.02 4 285 000 12 940 700 0.01305 FON 0.10 114 241 000 11 424 100 0.01306 FOTA 4.20 2 909 000 12 217 800 0.01307 KOMPUTRON 5.37 2 525 000 13 559 250 0.01308 MAKRUM 1.03 12 926 000 13 313 780 0.01309 PATENTUS 1.91 6 055 000 11 565 050 0.01310 RAFAMET 17.66 667 000 11 779 220 0.01311 SFINKS 0.94 11 981 000 11 262 140 0.01312 VOTUM 4.64 2 756 000 12 787 840 0.01313 YAWAL 5.35 2 483 000 13 284 050 0.01314 CCENERGY 0.20 53 299 000 10 659 800 0.00315 DROZAPOL 0.77 14 176 000 10 915 520 0.00316 EDINVEST 4.00 2 593 000 10 372 000 0.00317 IFCAPITAL 0.36 29 348 000 10 565 280 0.00318 JHMDEV 0.32 28 133 000 9 002 560 0.00319 KOMPAP 5.97 1 497 000 8 937 090 0.00320 MAKARONPL 2.15 4 707 000 10 120 050 0.00321 MIRACULUM 0.11 89 325 000 9 825 750 0.00322 POLNA 13.09 791 000 10 354 190 0.00323 REDAN 0.85 12 957 000 11 013 450 0.00324 RUBICON 0.20 51 491 000 10 298 200 0.00325 VINDEXUS 2.99 3 589 000 10 731 110 0.00326 ATLANTAPL 3.15 2 618 000 8 246 700 0.00327 AWBUD 0.62 11 931 000 7 397 220 0.00328 DMWDM 0.24 31 511 000 7 562 640 0.00329 DROP 9.00 868 000 7 812 000 0.00330 ENERGOPLD 0.26 24 950 000 6 487 000 0.00331 ESTAR 85.10 87 000 7 403 700 0.00332 EXILLON 7.94 935 000 7 423 900 0.00333 HYPERION 2.09 3 290 000 6 876 100 0.00334 IDEATFI 1.47 5 062 000 7 441 140 0.00335 INTERBUD 2.86 2 341 000 6 695 260 0.00336 INTERSPPL 2.95 2 590 000 7 640 500 0.00


114

WSE Main List




(PLN) (PLN) (%)337 ORCOGROUP 10.00 656 000 6 560 000 0.00338 POLJADLO 0.19 34 280 000 6 513 200 0.00339 PRAGMAFA 16.35 528 000 8 632 800 0.00340 WADEX 10.78 711 000 7 664 580 0.00341 WESTAISIC 0.74 11 033 000 8 164 420 0.00342 WOJAS 4.10 2 047 000 8 392 700 0.00343 ELKOP 0.13 36 733 000 4 775 290 0.00344 FASTFIN 0.38 14 968 000 5 687 840 0.00345 HELIO 5.21 1 143 000 5 955 030 0.00346 KBDOM 0.17 35 951 000 6 111 670 0.00347 KPPD 24.31 189 000 4 594 590 0.00348 TERESA 13.22 448 000 5 922 560 0.00349 AGROWILL 0.60 5 723 000 3 433 800 0.00350 COMPLEX 0.88 4 084 000 3 593 920 0.00351 MEXPOLSKA 2.35 1 492 000 3 506 200 0.00352 OLYMPIC 6.55 480 000 3 144 000 0.00353 EUROHOLD 2.30 533 000 1 225 900 0.00354 SOPHARMA 4.00 109 000 436 000 0.00


115

Fact Book 2013

RESPECTIndex

RESPECTIndex is the first index of socially responsible companies on the Main List. In order to become a constituent of this index, companies must belong to either WIG20, mWIG40 or sWIG80, and conscientiously comply with mandatory disclosures, ensure the highest quality of relations with stake-holders and obtain the highest score in the questionnaire concerning socially responsi-ble business.

RESPECTIndex has been calculated since 19 November 2009 and its base value was de-fined on 31 December 2008 as 1,000 points. The values of this index are calculated for a

variable number of companies. This index is published from the start until the close of session at one-minute intervals.

RESPECTIndex is a total return index, which means that income from dividends and pre-emptive rights is also taken into account for its calculation.

Changes to the composition of this index WIG are made twice a year. An inventory of index constituents is compiled after the last sessions of January and July. Company shares in the index are determined on the ba-sis of free float. Additionally, one company may have no more than a 25% share in this index if the number of constituents is under 20, or 10% in all other cases. The new port-folios come into force on the first session of February and August.

The RESPECTIndex in 2012

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

2 700

2 500

2 300

2 100

1 900

1 987.15 Jun

2 635.719 Dec

116

WSE Main List

The RESPECTIndex portfolio (end of 2012)


Market value Share in RESPECTIndex

(PLN) (PLN) (%) 1 PKNORLEN 49.50 157 869 000 7 814 515 500 11.58 2 KGHM 190.00 40 730 000 7 738 700 000 11.47 3 PZU 437.00 17 682 000 7 727 034 000 11.45 4 PGNIG 5.21 1 423 109 000 7 414 397 890 10.99 5 PGE 18.21 303 801 000 5 532 216 210 8.20 6 TPSA 12.23 379 313 000 4 638 997 990 6.87 7 BOGDANKA 136.00 33 979 000 4 621 144 000 6.85 8 JSW 92.40 37 704 000 3 483 849 600 5.16 9 HANDLOWY 98.30 32 665 000 3 210 969 500 4.76 10 INGBSK 91.00 32 525 000 2 959 775 000 4.39 11 LOTOS 41.20 60 797 000 2 504 836 400 3.71 12 AZOTYTARNOW 53.90 43 566 000 2 348 207 400 3.48 13 MILLENNIUM 4.42 418 366 000 1 849 177 720 2.74 14 NETIA 4.28 381 972 000 1 634 840 160 2.42 15 KREDYTB 16.50 54 332 000 896 478 000 1.33 16 APATOR 32.63 25 577 000 834 577 510 1.24 17 BUDIMEX 70.00 10 452 000 731 640 000 1.08 18 KOGENERA 86.50 7 450 000 644 425 000 0.96 19 ELBUDOWA 106.50 4 748 000 505 662 000 0.75 20 BANKBPH 48.89 8 318 000 406 667 020 0.60

117

Fact Book 2013

The WIG-Poland IndexThe WIG-Poland index (formerly WIG-PL) covers all listed Polish companies except those with a free float value under 10% and EUR 1 million, and those which are in a spe-cial situation (as defined in the WSE Rules). This means that the calculation methodol-ogy applied to WIG-Poland is in line with that of the WIG.

WIG-Poland has been calculated since 22 December 2003 whereas since 16 April 1991 (base date) the values of the WIG-Poland have been equal to those of the WIG.

WIG-Poland values are published three times during a trading session, i.e.: after the first auction, after the second auction, after the close of session.

The WIG-Poland is a total return index, which means that income from dividends and pre-emptive rights is also taken into ac-count for its calculation.

Changes to the WIG-Poland composition are made four times a year. An inventory of all listed companies is compiled after the last session in February, May, August and November. The inventory does not cover companies which fail to meet essential par-ticipation requirements. Company shares in this index are determined on the basis of the number of shares in free float. As an additional requirement, one company may have no more than a 10% share in this in-dex, whereas the share of one sector may not exceed 30%. The new WIG-Poland port-folio comes into force after the third Friday of March, June, September and December.

The WIG-Poland index in 2012

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

50 000

45 000

40 000

35 000

30 000

36 478.365 Jun

48 093,2219 Dec

118

WSE Main List

The WIG-Poland portfolio (end of 2012)



Market value Share in WIG-Poland

(PLN) (PLN) (%)1 PZU 437.00 54 984 000 24 028 008 000 10.382 KGHM 190.00 121 446 000 23 074 740 000 9.973 PKOBP 36.90 623 633 000 23 012 057 700 9.944 PEKAO 167.50 106 988 000 17 920 490 000 7.745 PKNORLEN 49.50 309 999 000 15 344 950 500 6.636 PGE 18.21 712 636 000 12 977 101 560 5.617 PGNIG 5.21 1 628 148 000 8 482 651 080 3.678 TPSA 12.23 647 357 000 7 917 176 110 3.429 TAURONPE 4.75 1 043 555 000 4 956 886 250 2.14

10 BOGDANKA 136.00 33 979 000 4 621 144 000 2.0011 LPP 4550.00 930 000 4 231 500 000 1.8312 BRE 326.00 12 786 000 4 168 236 000 1.8013 JSW 92.40 37 704 000 3 483 849 600 1.5114 EUROCASH 43.70 77 270 000 3 376 699 000 1.4615 HANDLOWY 98.30 32 665 000 3 210 969 500 1.3916 ASSECOPOL 45.35 69 483 000 3 151 054 050 1.3617 INGBSK 91.00 32 525 000 2 959 775 000 1.2818 CYFRPLSAT 16.41 168 807 000 2 770 122 870 1.2019 SYNTHOS 5.41 496 691 000 2 687 098 310 1.1620 LOTOS 41.20 60 797 000 2 504 836 400 1.0821 GTC 9.90 230 737 000 2 284 296 300 0.9922 GETINOBLE 1.79 1 191 982 000 2 133 647 780 0.9223 ENEA 15.73 131 913 000 2 074 991 490 0.9024 AZOTYTARNOW 53.90 35 085 000 1 891 081 500 0.8225 MILLENNIUM 4.42 418 366 000 1 849 177 720 0.8026 ALIOR 62.65 28 332 000 1 774 999 800 0.7727 NETIA 4.28 371 388 000 1 589 540 640 0.6928 TVN 9.92 158 105 000 1 568 401 600 0.6829 CCC 73.00 20 030 000 1 462 190 000 0.6330 AMREST 96.20 14 216 000 1 367 579 200 0.5931 KETY 144.90 9 226 000 1 336 847 400 0.5832 ECHO 5.05 233 735 000 1 180 361 750 0.5133 GPW 38.87 27 123 000 1 054 271 010 0.4634 GETIN 2.82 324 766 000 915 840 120 0.4035 KREDYTB 16.50 54 332 000 896 478 000 0.3936 PULAWY 137.50 6 474 000 890 175 000 0.3937 EMPERIA 57.95 15 115 000 875 914 250 0.3838 ORBIS 38.00 21 801 000 828 438 000 0.3639 APATOR 32.63 25 333 000 826 615 790 0.3640 ZEPAK 28.45 25 825 000 734 721 250 0.3241 BUDIMEX 70.00 10 452 000 731 640 000 0.3242 CIECH 22.20 32 292 000 716 882 400 0.3143 INTERCARS 86.00 8 253 000 709 758 000 0.31

119

Fact Book 2013




(PLN) (PLN) (%)44 KOGENERA 86.50 7 450 000 644 425 000 0.2845 BORYSZEW 0.62 969 028 000 600 797 360 0.2646 WAWEL 798.00 718 000 572 964 000 0.2547 INTEGERPL 184.50 3 021 000 557 374 500 0.2448 KOPEX 17.70 30 713 000 543 620 100 0.2449 FAMUR 4.77 110 906 000 529 021 620 0.2350 BIOTON 0.10 5 216 479 000 521 647 900 0.2351 ELBUDOWA 106.50 4 748 000 505 662 000 0.2252 MENNICA 22.66 22 376 000 507 040 160 0.2253 AGORA 10.38 45 245 000 469 643 100 0.2054 KRUK 44.06 10 078 000 444 036 680 0.1955 SANOK 18.15 23 601 000 428 358 150 0.1956 NFIEMF 16.65 24 946 000 415 350 900 0.1857 BANKBPH 48.89 8 318 000 406 667 020 0.1858 FARMACOL 32.59 11 602 000 378 109 180 0.1659 KOFOLA 27.50 13 089 000 359 947 500 0.1660 OPENFIN 14.00 24 750 000 346 500 000 0.1561 CDPROJEKT 6.20 55 376 000 343 331 200 0.1562 IMPEXMET 3.50 98 000 000 343 000 000 0.1563 COMARCH 73.50 4 586 000 337 071 000 0.1564 STALPROD 184.00 1 796 000 330 464 000 0.1465 MIDAS 0.65 503 124 000 327 030 600 0.1466 POLIMEXMS 0.62 521 117 000 323 092 540 0.1467 ZELMER 39.28 7 807 000 306 658 960 0.1368 BOS 30.00 9 921 000 297 630 000 0.1369 CORMAY 12.93 23 135 000 299 135 550 0.1370 PELION 30.50 9 591 000 292 525 500 0.1371 DEBICA 61.00 4 686 000 285 846 000 0.1272 COMP 59.40 4 386 000 260 528 400 0.1173 PEP 28.70 9 002 000 258 357 400 0.1174 LCCORP 1.17 218 432 000 255 565 440 0.1175 ATM 10.39 24 013 000 249 495 070 0.1176 AMICA 54.65 4 443 000 242 809 950 0.1177 ABPL 19.44 11 927 000 231 860 880 0.1078 DOMDEV 34.19 6 694 000 228 867 860 0.1079 RAFAKO 8.39 27 404 000 229 919 560 0.1080 GRAJEWO 13.15 17 316 000 227 705 400 0.1081 HAWE 3.80 58 937 000 223 960 600 0.1082 KREZUS 18.40 12 080 000 222 272 000 0.1083 MCI 6.37 34 271 000 218 306 270 0.0984 IPOPEMA 8.89 23 533 000 209 208 370 0.0985 SNIEZKA 39.39 5 026 000 197 974 140 0.0986 ASSECOBS 10.75 17 890 000 192 317 500 0.08

The WIG-Poland portfolio (end of 2012) (contd.)

120

WSE Main List




(PLN) (PLN) (%)87 NEUCA 95.50 1 968 000 187 944 000 0.0888 BENEFIT 230.00 802 000 184 460 000 0.0889 POLNORD 10.40 17 673 000 183 799 200 0.0890 ALCHEMIA 5.00 36 207 000 181 035 000 0.0891 ROVESE 1.42 123 345 000 175 149 900 0.0892 SYGNITY 14.45 11 809 000 170 640 050 0.0793 ACTION 22.40 7 557 000 169 276 800 0.0794 POLICE 12.39 13 586 000 168 330 540 0.0795 FORTE 12.90 12 724 000 164 139 600 0.0796 LENTEX 4.90 32 945 000 161 430 500 0.0797 PETROLINV 1.40 113 902 000 159 462 800 0.0798 RADPOL 8.00 19 627 000 157 016 000 0.0799 ASSECOSEE 9.20 16 750 000 154 100 000 0.07

100 BBIDEVNFI 0.38 407 046 000 154 677 480 0.07101 CITYINTER 24.34 6 303 000 153 415 020 0.07102 WIELTON 4.25 36 150 000 153 637 500 0.07103 MERCOR 14.80 9 922 000 146 845 600 0.06104 ZETKAMA 41.38 3 289 000 136 098 820 0.06105 IMPEL 30.74 4 266 000 131 136 840 0.06106 SECOGROUP 35.21 3 726 000 131 192 460 0.06107 ZPUE 247.90 522 000 129 403 800 0.06108 STALPROFI 16.76 7 536 000 126 303 360 0.06109 COLIAN 2.18 57 722 000 125 833 960 0.05110 MOSTALWAR 12.55 9 981 000 125 261 550 0.05111 RANKPROGR 11.02 10 843 000 119 489 860 0.05112 KOELNER 8.80 13 457 000 118 421 600 0.05113 PTI 15.95 7 408 000 118 157 600 0.05114 STALEXP 1.40 84 947 000 118 925 800 0.05115 KREDYTIN 12.80 8 973 000 114 854 400 0.05116 CALATRAVA 0.38 300 302 000 114 114 760 0.05117 ALMA 27.00 3 993 000 107 811 000 0.05118 VISTULA 1.08 100 261 000 108 281 880 0.05119 INSTALKRK 17.15 6 190 000 106 158 500 0.05120 PANOVA 19.00 5 552 000 105 488 000 0.05121 EKOEXPORT 14.85 7 035 000 104 469 750 0.05122 ORZBIALY 15.77 6 534 000 103 041 180 0.05123 ARMATURA 1.22 80 619 000 98 355 180 0.04124 WORKSERV 5.65 17 709 000 100 055 850 0.04125 IZOSTAL 7.50 13 005 000 97 537 500 0.04126 QUMAKSEK 9.31 10 375 000 96 591 250 0.04127 SKOTAN 4.08 23 372 000 95 357 760 0.04128 FERRO 6.20 15 080 000 93 496 000 0.04129 MAGELLAN 42.50 2 102 000 89 335 000 0.04130 EMCINSMED 15.95 5 369 000 85 635 550 0.04


121

Fact Book 2013




(PLN) (PLN) (%)131 MOSTALZAB 1.14 72 870 000 83 071 800 0.04132 QUERCUS 2.46 33 631 000 82 732 260 0.04133 VOXEL 18.10 4 559 000 82 517 900 0.04134 ARCTIC 5.86 13 962 000 81 817 320 0.04135 JWCONSTR 4.04 20 091 000 81 167 640 0.04136 AMBRA 8.09 9 800 000 79 282 000 0.03137 DUDA 0.39 199 109 000 77 652 510 0.03138 PAGED 15.14 5 128 000 77 637 920 0.03139 APLISENS 14.49 5 224 000 75 695 760 0.03140 ABCDATA 2.08 35 321 000 73 467 680 0.03141 ENERGOINS 14.50 5 064 000 73 428 000 0.03142 TIM 5.22 14 277 000 74 525 940 0.03143 NOWAGALA 1.96 36 521 000 71 581 160 0.03144 ERBUD 13.95 4 903 000 68 396 850 0.03145 KRUSZWICA 28.40 2 418 000 68 671 200 0.03146 ZAMET 2.65 26 306 000 69 710 900 0.03147 OTMUCHOW 10.70 6 257 000 66 949 900 0.03148 SOLAR 5.60 12 010 000 67 256 000 0.03149 ADVGRUPA 13.12 4 933 000 64 720 960 0.03150 BARLINEK 0.90 72 086 000 64 877 400 0.03151 GANT 3.90 16 771 000 65 406 900 0.03152 MNI 1.47 44 666 000 65 659 020 0.03153 TRAKCJA 0.59 108 205 000 63 840 950 0.03154 UNIBEP 5.05 12 792 000 64 599 600 0.03155 PEKAES 5.50 11 289 000 62 089 500 0.03156 POZBUD 3.40 18 500 000 62 900 000 0.03157 ELEKTROTI 8.60 7 027 000 60 432 200 0.03158 FERRUM 7.45 8 083 000 60 218 350 0.03159 GRAAL 14.95 3 975 000 59 426 250 0.03160 KINOPOL 13.55 4 441 000 60 175 550 0.03161 MIESZKO 4.36 13 935 000 60 756 600 0.03162 ROBYG 1.43 42 050 000 60 131 500 0.03163 ACAUTOGAZ 24.50 2 343 000 57 403 500 0.03164 HYDROTOR 26.94 2 027 000 54 607 380 0.02165 OPONEO.PL 7.00 7 841 000 54 887 000 0.02166 ULMA 43.85 1 288 000 56 478 800 0.02167 BSCDRUK 17.20 3 032 000 52 150 400 0.02168 ENERGOPOL 8.44 6 207 000 52 387 080 0.02169 ERGIS 3.34 16 213 000 54 151 420 0.02170 KONSSTALI 24.85 2 139 000 53 154 150 0.02171 LUBAWA 0.70 74 528 000 52 169 600 0.02172 MIRBUD 1.23 42 899 000 52 765 770 0.02173 PEPEES 0.89 60 343 000 53 705 270 0.02174 COGNOR 2.18 22 531 000 49 117 580 0.02


122

WSE Main List




(PLN) (PLN) (%)175 PGODLEW 1.85 26 306 000 48 666 100 0.02176 PROJPRZEM 8.80 5 471 000 48 144 800 0.02177 PROTEKTOR 4.04 11 981 000 48 403 240 0.02178 DECORA 8.50 5 572 000 47 362 000 0.02179 IDEON 0.16 293 319 000 46 931 040 0.02180 IDMSA 0.21 218 177 000 45 817 170 0.02181 LIBET 1.98 22 915 000 45 371 700 0.02182 PLASTBOX 2.45 19 117 000 46 836 650 0.02183 RELPOL 8.06 5 829 000 46 981 740 0.02184 BERLING 6.60 6 730 000 44 418 000 0.02185 BLACKLION 0.76 58 068 000 44 131 680 0.02186 HARPER 1.73 25 500 000 44 115 000 0.02187 WASKO 2.51 17 393 000 43 656 430 0.02188 ARTERIA 13.43 3 020 000 40 558 600 0.02189 INDYKPOL 35.70 1 166 000 41 626 200 0.02190 PCGUARD 1.91 22 237 000 42 472 670 0.02191 PROCHEM 16.14 2 550 000 41 157 000 0.02192 SELENAFM 7.94 5 246 000 41 653 240 0.02193 ENELMED 4.10 9 319 000 38 207 900 0.02194 HERKULES 1.28 30 390 000 38 899 200 0.02195 TOYA 2.40 16 402 000 39 364 800 0.02196 ZASTAL 1.88 20 435 000 38 417 800 0.02197 ZUE 6.54 6 000 000 39 240 000 0.02198 ATMGRUPA 1.02 36 777 000 37 512 540 0.02199 ESSYSTEM 2.50 13 646 000 34 115 000 0.02200 FASING 26.67 1 239 000 33 044 130 0.01201 GROCLIN 12.66 2 550 000 32 283 000 0.01202 HYGIENIKA 1.26 26 524 000 33 420 240 0.01203 INPRO 3.23 10 010 000 32 332 300 0.01204 KANIA 1.80 18 504 000 33 307 200 0.01205 ROPCZYCE 17.20 1 845 000 31 734 000 0.01206 4FUNMEDIA 20.20 1 444 000 29 168 800 0.01207 ATMSI 1.23 24 471 000 30 099 330 0.01208 GINOROSSI 0.98 31 878 000 31 240 440 0.01209 HUTMEN 3.29 8 900 000 29 281 000 0.01210 LENA 3.00 10 150 000 30 450 000 0.01211 NETMEDIA 4.30 6 815 000 29 304 500 0.01212 STAPORKOW 20.47 1 471 000 30 111 370 0.01213 TELL 10.00 3 085 000 30 850 000 0.01214 KRAKCHEM 5.90 4 685 000 27 641 500 0.01215 PCCINTER 1.45 18 757 000 27 197 650 0.01216 PRESCO 7.28 3 686 000 26 834 080 0.01217 BUMECH 6.19 4 192 000 25 948 480 0.01


123

Fact Book 2013




(PLN) (PLN) (%)218 CELTIC 4.51 5 444 000 24 552 440 0.01219 FAM 1.47 16 542 000 24 316 740 0.01220 INTROL 4.45 5 970 000 26 566 500 0.01221 K2INTERNT 16.99 1 493 000 25 366 070 0.01222 RAINBOW 4.13 6 236 000 25 754 680 0.01223 REMAK 16.20 1 521 000 24 640 200 0.01224 URSUS 3.46 7 319 000 25 323 740 0.01225 EUROTEL 17.30 1 304 000 22 559 200 0.01226 MWTRADE 9.80 2 476 000 24 264 800 0.01227 NOKAUT 6.59 3 676 000 24 224 840 0.01228 NOVITA 22.60 975 000 22 035 000 0.01229 SONEL 4.91 4 794 000 23 538 540 0.01230 CAPITAL 1.37 14 369 000 19 685 530 0.01231 INVESTCON 0.97 21 742 000 21 089 740 0.01232 MCLOGIC 32.00 681 000 21 792 000 0.01233 MOSTALPLC 21.00 1 027 000 21 567 000 0.01234 PRAGMAINK 19.17 1 032 000 19 783 440 0.01235 PROCHNIK 0.24 89 100 000 21 384 000 0.01236 TESGAS 3.32 6 164 000 20 464 480 0.01237 BAKALLAND 2.69 6 520 000 17 538 800 0.01238 BOWIM 4.23 4 647 000 19 656 810 0.01239 EFH 0.18 103 138 000 18 564 840 0.01240 EUCO 10.14 1 797 000 18 221 580 0.01241 IVMX 4.95 3 511 000 17 379 450 0.01242 KREC 3.40 5 463 000 18 574 200 0.01243 MIT 0.34 55 718 000 18 944 120 0.01244 MOBRUK 50.00 356 000 17 800 000 0.01245 MONNARI 1.15 15 990 000 18 388 500 0.01246 PAMAPOL 2.74 6 642 000 18 199 080 0.01247 08OCTAVA 0.71 22 310 000 15 840 100 0.01248 ATLANTIS 0.13 128 520 000 16 707 600 0.01249 ATREM 3.90 3 999 000 15 596 100 0.01250 JUPITER 0.66 25 789 000 17 020 740 0.01251 ODLEWNIE 1.96 8 487 000 16 634 520 0.01252 PBSFINANSE 0.42 37 363 000 15 692 460 0.01253 SUWARY 17.79 958 000 17 042 820 0.01254 TRANSPOL 5.78 2 631 000 15 207 180 0.01255 VANTAGE 1.31 11 762 000 15 408 220 0.01256 WIKANA 0.40 42 545 000 17 018 000 0.01257 BBICAPNFI 0.71 20 702 000 14 698 420 0.01258 BIPROMET 6.30 2 108 000 13 280 400 0.01259 BYTOM 0.25 51 250 000 12 812 500 0.01260 CAMMEDIA 3.02 4 285 000 12 940 700 0.01


124

WSE Main List




(PLN) (PLN) (%)261 CHEMOS 0.19 78 323 000 14 881 370 0.01262 DUON 0.69 19 945 000 13 762 050 0.01263 INTERFERI 5.22 2 770 000 14 459 400 0.01264 KOMPUTRON 5.37 2 525 000 13 559 250 0.01265 MAKRUM 1.03 12 926 000 13 313 780 0.01266 MOSTALEXP 0.35 39 757 000 13 914 950 0.01267 NTTSYSTEM 0.72 18 924 000 13 625 280 0.01268 SIMPLE 7.23 2 031 000 14 684 130 0.01269 SWISSMED 0.57 24 092 000 13 732 440 0.01270 TRITON 1.13 13 190 000 14 904 700 0.01271 TUP 1.93 7 353 000 14 191 290 0.01272 VOTUM 4.64 2 756 000 12 787 840 0.01273 YAWAL 5.35 2 483 000 13 284 050 0.01274 06MAGNA 0.23 52 420 000 12 056 600 0.01275 BBIZENNFI 0.18 70 130 000 12 623 400 0.01276 CCENERGY 0.20 53 299 000 10 659 800 0.01277 DROZAPOL 0.77 14 176 000 10 915 520 0.01278 FON 0.10 114 241 000 11 424 100 0.01279 FOTA 4.20 2 909 000 12 217 800 0.01280 IFCAPITAL 0.36 29 348 000 10 565 280 0.01281 PATENTUS 1.91 6 055 000 11 565 050 0.01282 RAFAMET 17.66 667 000 11 779 220 0.01283 REDAN 0.85 12 957 000 11 013 450 0.01284 SFINKS 0.94 11 981 000 11 262 140 0.01285 VINDEXUS 2.99 3 589 000 10 731 110 0.01286 ATLANTAPL 3.15 2 618 000 8 246 700 0.00287 EDINVEST 4.00 2 593 000 10 372 000 0.00288 JHMDEV 0.32 28 133 000 9 002 560 0.00289 KOMPAP 5.97 1 497 000 8 937 090 0.00290 MAKARONPL 2.15 4 707 000 10 120 050 0.00291 MIRACULUM 0.11 89 325 000 9 825 750 0.00292 POLNA 13.09 791 000 10 354 190 0.00293 PRAGMAFA 16.35 528 000 8 632 800 0.00294 RUBICON 0.20 51 491 000 10 298 200 0.00295 WOJAS 4.10 2 047 000 8 392 700 0.00296 AWBUD 0.62 11 931 000 7 397 220 0.00297 DMWDM 0.24 31 511 000 7 562 640 0.00298 DROP 9.00 868 000 7 812 000 0.00299 ENERGOPLD 0.26 24 950 000 6 487 000 0.00300 HELIO 5.21 1 143 000 5 955 030 0.00301 HYPERION 2.09 3 290 000 6 876 100 0.00302 IDEATFI 1.47 5 062 000 7 441 140 0.00303 INTERBUD 2.86 2 341 000 6 695 260 0.00


125

Fact Book 2013




(PLN) (PLN) (%)304 INTERSPPL 2.95 2 590 000 7 640 500 0.00305 KBDOM 0.17 35 951 000 6 111 670 0.00306 POLJADLO 0.19 34 280 000 6 513 200 0.00307 TERESA 13.22 448 000 5 922 560 0.00308 WADEX 10.78 711 000 7 664 580 0.00309 COMPLEX 0.88 4 084 000 3 593 920 0.00310 ELKOP 0.13 36 733 000 4 775 290 0.00311 FASTFIN 0.38 14 968 000 5 687 840 0.00312 KPPD 24.31 189 000 4 594 590 0.00313 MEXPOLSKA 2.35 1 492 000 3 506 200 0.00


126

WSE Main List

WIG-UkraineWIG-Ukraine comprises all companies with Ukrainian origin on the Main List and cov-ered by WIG. WIG-Ukraine has been calculated since 4 May 2012, and its base value was deter-mined on 31 December 2010 at 1,000 points. after the first auction at 10:15, after the second auction at 15:15, after the close of session at 17:40.

WIG-Ukraine is a total return index, which means that income from dividends and pre-emptive rights is also taken into account for its calculation. Changes to its composition are made four times a year. An inventory of all listed companies is compiled after the last session in February, May, August and November. The inventory does not include companies which fail to meet essential par-

ticipation requirements. Company shares in this index are determined on the basis of the number of shares in free float. As an addi-tional requirement, one company may have no more than a 40% share in this index if the number of index constituents is under 30, or 10% in all other cases. New index port-folios come into force after the third Friday of March, June, September and December.

The WIG-Ukraine index in 2012

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

900

800

700

600

500

594.4623 May

830.6816 Mar

127

Fact Book 2013

The WIG-Ukraine portfolio (end of 2012)

No Shares Price of shares Number of shares in portfolio

Market value Share in WIG-Ukraine

(PLN) (PLN) (%)

1 KERNEL 66.75 12 118 000 808 876 500 40.00 2 ASTARTA 55.00 9 256 000 509 080 000 25.17 3 IMCOMPANY 16.35 9 809 000 160 377 150 7.93 4 OVOSTAR 89.00 1 500 000 133 500 000 6.60 5 MILKILAND 14.50 8 426 000 122 177 000 6.04 6 COALENERG 9.53 11 253 000 107 241 090 5.30 7 AGROTON 10.00 6 610 000 66 100 000 3.27 8 KSGAGRO 11.60 5 126 000 59 461 600 2.94 9 KDMSHIPNG 25.10 996 000 24 999 600 1.24 10 SADOVAYA 2.07 10 771 000 22 295 970 1.1011 WESTAISIC 0.74 11 033 000 8 164 420 0.40

Monthly rates of return on WSE indices in 2012 (%)

WIG20 mWIG40 sWIG80 WIG-Plus WIG WIG-CEE WIG-Poland WIG-Ukraine

January 8.8 8.3 10.9 13.0 8.9 2.3 9.1 7.0

February -0.6 5.0 10.3 9.2 1.5 3.5 1.3 9.9

March -1.3 1.3 -1.2 -0.1 -0.7 -2.4 -0.6 -3.6

April -2.0 -3.5 -3.3 -5.3 -2.4 -2.3 -2.4 -2.8

May -6.4 -7.1 -6.4 -8.6 -6.2 -12.3 -5.7 -20.3

June 8.5 2.4 2.5 -1.3 8.0 4.5 8.2 5.0

July -3.9 -2.8 -1.8 -7.6 -1.6 3.5 -1.9 9.7

August 3.3 -0.6 0.4 -0.3 3.5 1.8 3.7 2.2

September 5.0 5.8 5.0 3.6 5.2 -0.4 5.5 -2.3

October -2.3 2.3 -0.3 3.5 -1.2 1.1 -1.2 -1.4

November 4.5 4.1 1.5 1.7 4.1 -3.9 4.4 -6.4

December 6.7 1.8 4.8 1.7 5.4 -2.5 5.9 -1.9

128

WSE Main List

Sectoral subindicesThe Warsaw Stock Exchange runs a sectoral classification for all listed companies. Lists of companies covered by sectoral subindices of the WIG are based on this classification. The constituent list of a sectoral subindex in-cludes companies from one sector only.

At the end of 2012, the following sectoral subindices were calculated:

Values of sectoral subindices are published three times during a trading session, i.e.: after the first auction, after the second auction, after the close of session.

Sectoral subindices are based on the WIG methodology and are calculated with in-come from dividends and pre-emptive rights.

Changes in composition of sectoral subin-dices are made alongside changes in the WIG composition and company shares in subindices are equal to their respective shares in the WIG.

New portfolios of sectoralsubindices come into force after the third Friday of March, June, September and December.

Monthly rates of return on WSE sectoral subindices in 2012 (%)

Month I II III IV V VI VII VIII IX X XI XII

WIG-Banking 9.8 -0.5 -0.4 -1.6 -6.5 11.1 -5.9 6.9 3.6 -0.4 0.9 5.4

WIG-Construction 12.3 0.6 -14.1 -14.6 -3.5 -18.0 -8.0 -7.0 21.3 -3.6 3.4 2.1

WIG-Chemical 15.0 0.5 12.4 2.3 -2.8 7.5 0.1 2.0 6.3 -3.4 7.0 1.3

WIG-Developers 17.6 -1.7 -7.7 -4.2 -9.2 1.0 -5.9 -4.7 14.1 5.5 3.5 4.6

WIG-Energy -0.4 -3.3 -1.2 -3.9 -3.3 6.0 -2.5 9.5 -0.7 -7.1 3.2 2.0

WIG-IT 0.6 12.4 -3.0 -5.6 0.8 0.9 -6.4 -2.6 2.8 -6.3 7.0 4.8

WIG-Media 4.1 3.4 -1.0 -5.1 -7.9 5.7 -5.4 -5.8 5.4 0.7 8.5 6.7

WIG-Oil&Gas 4.6 -3.2 5.6 -0.5 -9.7 11.2 -3.3 5.0 11.0 -2.0 6.3 10.8

WIG-Food 4.8 7.9 -4.8 -1.0 -16.5 6.0 10.1 2.4 -2.1 1.5 0.4 -0.8

WIG-Basic materials 24.4 4.4 -3.8 -2.6 -7.2 11.4 5.3 0.5 12.6 3.1 9.1 6.0

WIG-Telecom 1.9 0.1 2.1 -4.1 -3.3 5.4 0.5 4.5 -0.1 -22.1 -5.7 0.4

Basic Materials

Energy

129

Fact Book 2013

LicensingThe Warsaw Stock Exchange registers its indices as trademarks. From the registration date onwards, those registered trademarks may only be used under a licence agree-ment signed with the WSE.

Benchmarks for financial institutions

The WSE creates and calculates bench-marks developed individually to meet spe-cific needs of external institutions while maintaining clarity of design and calculation methodology.

The Warsaw Stock Exchange guarantees reliability of index design and monitors the calculation of index values under existing contracts.

Index Committee

Established by the WSE Management Board in October 1997, the Index Committee is a standing body with a reviewing and adviso-ry function on index methodology and stock market statistics. The Committee meets be-fore adjustments and revisions to WIG20, mWIG40, sWIG80 and WIG-Plus portfolios are announced.

130

WSE Main List

Index values in 2012 (points)Session

(dd.mm)WIG20 mWIG40 sWIG80 WIG-

Plus WIG WIG-CEE

WIG-Poland

WIG-Ukraine RESPECT WIGdiv

30.12.11 2 144 2 174 8 497 716 37 595 906 37 217 705 2 005 90302.01 2 194 2 190 8 604 725 38 318 915 37 951 709 2 030 91703.01 2 204 2 194 8 636 729 38 464 916 38 077 730 2 040 91304.01 2 184 2 187 8 610 727 38 183 914 37 789 722 2 041 91305.01 2 157 2 160 8 602 725 37 739 895 37 366 711 2 011 90109.01 2 127 2 157 8 568 723 37 341 900 36 952 708 2 004 89610.01 2 138 2 177 8 682 730 37 609 910 37 221 705 2 011 90411.01 2 131 2 176 8 657 732 37 516 904 37 127 700 2 021 90512.01 2 167 2 201 8 741 736 38 063 901 37 692 704 2 045 91313.01 2 166 2 184 8 714 735 37 992 895 37 626 703 2 039 91416.01 2 183 2 189 8 732 741 38 226 895 37 873 698 2 052 92017.01 2 208 2 233 8 894 755 38 727 884 38 405 701 2 064 92018.01 2 228 2 247 8 941 758 39 056 898 38 741 692 2 080 92419.01 2 244 2 251 8 971 766 39 288 903 38 961 704 2 080 92520.01 2 261 2 254 8 974 775 39 519 910 39 193 704 2 096 93123.01 2 266 2 273 9 043 781 39 660 909 39 330 715 2 112 93324.01 2 265 2 264 9 025 781 39 607 907 39 281 721 2 108 93225.01 2 253 2 283 9 081 782 39 543 905 39 212 727 2 102 92626.01 2 306 2 323 9 236 795 40 392 918 40 072 734 2 138 94327.01 2 306 2 328 9 301 800 40 468 921 40 151 731 2 145 94530.01 2 317 2 325 9 360 801 40 600 920 40 284 734 2 146 95031.01 2 332 2 354 9 420 809 40 928 926 40 606 754 2 162 95501.02 2 364 2 375 9 501 816 41 438 915 41 142 751 2 180 96402.02 2 371 2 387 9 562 820 41 602 931 41 274 763 2 185 96703.02 2 374 2 402 9 654 826 41 732 942 41 388 773 2 187 96906.02 2 390 2 432 9 797 835 42 084 973 41 665 810 2 198 97307.02 2 375 2 429 9 884 839 41 913 968 41 488 822 2 196 96708.02 2 377 2 441 9 959 852 42 044 987 41 607 828 2 189 97109.02 2 364 2 422 9 874 851 41 792 981 41 363 817 2 174 97210.02 2 325 2 410 9 822 843 41 219 965 40 794 806 2 151 96213.02 2 342 2 437 9 942 848 41 582 969 41 152 808 2 164 97114.02 2 329 2 430 9 987 856 41 424 970 40 993 801 2 162 96615.02 2 335 2 448 10 130 871 41 616 969 41 190 810 2 167 97016.02 2 319 2 445 10 186 873 41 430 965 41 001 807 2 162 97117.02 2 360 2 482 10 428 887 42 161 988 41 719 825 2 203 98920.02 2 349 2 475 10 505 899 42 047 980 41 616 823 2 201 98721.02 2 352 2 467 10 530 900 42 070 973 41 643 822 2 204 99022.02 2 328 2 452 10 421 889 41 669 964 41 245 815 2 190 98223.02 2 297 2 445 10 423 886 41 258 959 40 838 811 2 171 97824.02 2 312 2 469 10 406 886 41 499 957 41 088 808 2 187 98127.02 2 313 2 456 10 374 882 41 464 956 41 052 807 2 178 98028.02 2 319 2 475 10 419 882 41 606 955 41 190 825 2 198 98229.02 2 317 2 472 10 388 883 41 561 959 41 139 829 2 197 981

▼

▲

▲

131

Fact Book 2013

Session (dd.mm)

WIG20 mWIG40 sWIG80 WIG-Plus WIG WIG-

CEEWIG-

PolandWIG-

Ukraine RESPECT WIGdiv

01.03 2 321 2 462 10 317 877 41 534 948 41 148 810 2 193 98402.03 2 325 2 476 10 284 878 41 640 958 41 238 830 2 195 98405.03 2 284 2 463 10 235 871 41 084 953 40 683 821 2 182 97106.03 2 250 2 433 10 048 859 40 480 941 40 080 808 2 158 95807.03 2 266 2 447 10 185 867 40 791 953 40 372 821 2 160 96608.03 2 297 2 478 10 335 879 41 338 950 40 950 814 2 184 97909.03 2 286 2 484 10 376 884 41 236 934 40 875 803 2 178 97312.03 2 292 2 485 10 350 879 41 297 929 40 951 792 2 178 97413.03 2 298 2 505 10 407 881 41 461 935 41 106 799 2 185 97914.03 2 337 2 527 10 513 886 42 069 954 41 703 815 2 217 99415.03 2 344 2 562 10 536 893 42 281 956 41 922 817 2 235 99916.03 2 338 2 562 10 533 898 42 209 955 41 830 831 2 238 1 00119.03 2 324 2 547 10 441 894 41 963 966 41 579 824 2 230 99120.03 2 300 2 529 10 397 888 41 586 965 41 187 823 2 212 98321.03 2 298 2 523 10 355 884 41 529 966 41 122 828 2 214 98322.03 2 262 2 475 10 175 869 40 834 946 40 434 812 2 180 96823.03 2 284 2 499 10 218 875 41 210 946 40 827 808 2 197 97226.03 2 305 2 509 10 276 880 41 526 950 41 156 807 2 212 98027.03 2 324 2 528 10 326 883 41 834 953 41 457 815 2 231 98728.03 2 308 2 522 10 326 880 41 608 944 41 234 809 2 218 98529.03 2 271 2 493 10 227 877 41 028 938 40 660 801 2 195 97330.03 2 287 2 504 10 262 882 41 267 936 40 908 799 2 205 98102.04 2 301 2 522 10 268 879 41 489 931 41 133 808 2 220 98703.04 2 299 2 527 10 226 877 41 466 939 41 086 813 2 227 98504.04 2 257 2 485 10 087 867 40 754 922 40 396 794 2 192 96805.04 2 263 2 477 10 094 866 40 802 921 40 442 799 2 193 97110.04 2 226 2 441 9 941 858 40 217 926 39 834 805 2 149 96211.04 2 252 2 446 9 978 854 40 563 934 40 176 815 2 164 97012.04 2 279 2 474 10 159 859 41 054 940 40 660 820 2 186 97713.04 2 250 2 473 10 113 858 40 669 933 40 270 825 2 171 97116.04 2 251 2 456 10 050 856 40 605 929 40 210 825 2 167 97017.04 2 271 2 460 10 073 857 40 873 928 40 476 824 2 182 97418.04 2 246 2 450 10 066 857 40 527 920 40 143 819 2 160 96619.04 2 232 2 455 10 057 851 40 355 924 39 957 824 2 165 95920.04 2 222 2 442 9 974 843 40 141 921 39 739 814 2 159 95323.04 2 167 2 368 9 662 816 39 086 911 38 682 792 2 109 93024.04 2 180 2 384 9 682 817 39 305 905 38 936 780 2 117 93525.04 2 186 2 387 9 699 824 39 423 922 39 041 781 2 126 93226.04 2 210 2 399 9 773 827 39 762 888 39 439 765 2 137 94327.04 2 244 2 406 9 827 829 40 249 910 39 913 773 2 154 95630.04 2 241 2 417 9 919 835 40 274 914 39 928 776 2 154 95702.05 2 226 2 424 9 924 833 40 115 922 39 752 777 2 150 95504.05 2 210 2 424 9 865 834 39 888 917 39 514 784 2 132 948

Index values in 2012 (points) (contd.)

▲

▲

132

WSE Main List

Session (dd.mm)


CEEWIG-

PolandWIG-


07.05 2 217 2 416 9 811 824 39 910 897 39 568 772 2 142 95108.05 2 168 2 408 9 793 822 39 268 882 38 937 753 2 112 93709.05 2 168 2 394 9 705 818 39 176 873 38 855 752 2 107 93910.05 2 188 2 391 9 681 817 39 404 866 39 105 736 2 117 94211.05 2 179 2 379 9 672 817 39 278 860 38 992 713 2 115 93714.05 2 137 2 321 9 517 804 38 501 846 38 230 684 2 069 92115.05 2 111 2 316 9 424 801 38 157 839 37 909 665 2 048 91416.05 2 120 2 310 9 333 790 38 215 825 37 991 650 2 063 91717.05 2 057 2 272 9 183 772 37 229 803 37 035 615 2 020 89518.05 2 061 2 267 9 196 765 37 256 801 37 090 601 2 023 89421.05 2 096 2 291 9 246 772 37 790 802 37 646 602 2 050 90522.05 2 100 2 307 9 251 771 37 888 806 37 715 616 2 049 91023.05 2 038 2 268 9 077 763 36 935 791 36 762 594 2 003 88924.05 2 036 2 252 9 069 760 36 853 797 36 663 598 2 001 88425.05 2 037 2 246 9 117 759 36 861 787 36 705 598 1 992 88228.05 2 056 2 219 9 170 762 37 178 793 37 027 600 2 008 89229.05 2 091 2 224 9 266 762 37 663 799 37 503 612 2 027 90630.05 2 072 2 204 9 260 758 37 348 799 37 191 608 2 003 90331.05 2 096 2 245 9 286 764 37 794 802 37 637 619 2 027 92401.06 2 072 2 204 9 198 753 37 312 798 37 161 607 2 011 91204.06 2 078 2 182 9 093 747 37 288 815 37 106 622 2 014 90805.06 2 040 2 148 8 984 733 36 653 806 36 478 604 1 987 89506.06 2 111 2 180 9 151 734 37 707 826 37 546 611 2 026 91608.06 2 154 2 209 9 243 736 38 527 828 38 377 626 2 068 93711.06 2 165 2 232 9 276 742 38 748 827 38 609 629 2 079 93612.06 2 213 2 249 9 326 739 39 418 833 39 282 652 2 119 95213.06 2 209 2 243 9 317 738 39 338 833 39 206 655 2 117 95014.06 2 208 2 234 9 293 736 39 287 834 39 152 660 2 115 94915.06 2 233 2 232 9 340 740 39 739 839 39 596 675 2 143 96018.06 2 228 2 240 9 370 742 39 725 843 39 590 665 2 136 96119.06 2 271 2 286 9 508 744 40 633 853 40 504 672 2 188 98220.06 2 261 2 287 9 534 748 40 512 848 40 392 666 2 182 98121.06 2 246 2 256 9 506 744 40 208 842 40 111 650 2 171 97522.06 2 242 2 268 9 454 746 40 187 840 40 075 653 2 164 97425.06 2 208 2 264 9 440 745 39 728 825 39 621 646 2 138 96426.06 2 252 2 277 9 479 751 40 350 835 40 258 647 2 165 97827.06 2 276 2 289 9 521 753 40 710 831 40 642 639 2 180 98928.06 2 238 2 251 9 471 749 40 165 838 40 079 634 2 151 97029.06 2 275 2 300 9 520 754 40 811 839 40 721 650 2 182 97902.07 2 255 2 307 9 512 749 40 586 872 40 464 651 2 169 97003.07 2 271 2 302 9 542 746 40 788 863 40 667 669 2 183 97804.07 2 262 2 282 9 498 742 40 636 845 40 519 667 2 182 97505.07 2 287 2 295 9 528 741 41 014 848 40 894 674 2 204 982


▼

▼

▼

▼

▼

▼ ▼▼

133

Fact Book 2013

Session (dd.mm)


CEEWIG-

PolandWIG-


06.07 2 273 2 285 9 537 740 40 793 845 40 658 681 2 194 97709.07 2 242 2 284 9 441 739 40 355 843 40 194 686 2 174 96410.07 2 247 2 263 9 430 735 40 356 846 40 201 682 2 173 96511.07 2 221 2 251 9 440 730 39 983 848 39 817 678 2 153 95612.07 2 154 2 228 9 375 722 39 778 845 39 628 665 2 134 95213.07 2 191 2 237 9 427 718 40 301 851 40 146 677 2 169 96516.07 2 189 2 243 9 439 713 40 278 852 40 119 679 2 175 96217.07 2 191 2 278 9 480 712 40 426 860 40 238 697 2 173 97018.07 2 185 2 284 9 495 710 40 371 866 40 133 723 2 177 96119.07 2 199 2 280 9 505 710 40 546 870 40 319 722 2 189 96620.07 2 173 2 271 9 466 706 40 148 863 39 935 715 2 174 95723.07 2 101 2 225 9 242 694 38 983 857 38 763 701 2 110 93324.07 2 115 2 235 9 280 692 39 201 860 38 977 705 2 129 93725.07 2 119 2 231 9 280 690 39 246 861 39 020 707 2 132 93826.07 2 115 2 235 9 271 694 39 213 868 38 972 709 2 128 93627.07 2 163 2 263 9 306 694 39 936 865 39 724 711 2 172 95530.07 2 191 2 246 9 354 699 40 267 867 40 067 707 2 187 96031.07 2 186 2 236 9 344 696 40 164 868 39 949 713 2 189 96301.08 2 189 2 227 9 293 695 40 154 864 39 955 704 2 190 96502.08 2 171 2 217 9 253 692 39 877 862 39 682 696 2 178 95703.08 2 223 2 226 9 295 697 40 594 869 40 402 708 2 217 97206.08 2 262 2 242 9 340 698 41 171 875 40 976 725 2 242 98407.08 2 267 2 242 9 298 697 41 225 877 41 032 723 2 243 98508.08 2 269 2 243 9 282 694 41 254 885 41 052 729 2 243 98909.08 2 319 2 260 9 316 695 41 977 884 41 797 734 2 288 1 00810.08 2 313 2 257 9 277 693 41 878 885 41 697 730 2 285 1 00513.08 2 312 2 267 9 282 691 41 891 886 41 712 734 2 279 1 00714.08 2 318 2 274 9 326 690 41 998 887 41 820 732 2 281 1 00616.08 2 344 2 291 9 361 696 42 408 890 42 224 743 2 296 1 01717.08 2 314 2 267 9 393 694 41 941 869 41 750 744 2 261 1 00420.08 2 282 2 264 9 388 690 41 759 872 41 561 742 2 251 1 00121.08 2 299 2 292 9 412 692 42 095 883 41 892 751 2 267 1 01222.08 2 279 2 298 9 429 691 41 846 878 41 652 745 2 258 1 01123.08 2 278 2 289 9 395 691 41 796 881 41 583 756 2 250 1 00424.08 2 283 2 278 9 431 694 41 853 897 41 634 752 2 259 1 00127.08 2 277 2 271 9 407 696 41 739 894 41 519 752 2 253 1 00028.08 2 253 2 256 9 338 694 41 601 883 41 402 746 2 254 99829.08 2 236 2 222 9 340 692 41 246 881 41 036 754 2 240 99030.08 2 227 2 211 9 284 691 41 077 871 40 917 730 2 234 98731.08 2 258 2 223 9 381 694 41 574 884 41 408 729 2 255 99703.09 2 265 2 236 9 424 692 41 731 884 41 555 743 2 268 1 00204.09 2 248 2 227 9 364 690 41 461 880 41 306 725 2 260 99705.09 2 261 2 228 9 388 690 41 627 870 41 501 718 2 261 1 001


▼

134

WSE Main List

Session (dd.mm)


CEEWIG-

PolandWIG-


06.09 2 297 2 236 9 423 690 42 135 858 42 016 726 2 280 1 01207.09 2 317 2 260 9 482 691 42 504 865 42 399 721 2 309 1 02010.09 2 335 2 266 9 462 692 42 764 863 42 669 719 2 325 1 02611.09 2 353 2 274 9 405 694 43 011 874 42 919 711 2 339 1 03112.09 2 347 2 285 9 419 694 42 982 872 42 900 710 2 344 1 02813.09 2 354 2 280 9 421 697 43 047 873 42 950 716 2 336 1 02914.09 2 417 2 326 9 515 704 44 089 899 44 019 713 2 400 1 05017.09 2 403 2 319 9 553 706 43 897 898 43 806 726 2 397 1 04918.09 2 405 2 322 9 616 706 43 968 899 43 900 719 2 409 1 04819.09 2 417 2 328 9 681 711 44 174 892 44 123 716 2 417 1 05220.09 2 387 2 313 9 672 709 43 737 893 43 701 700 2 388 1 04721.09 2 380 2 322 9 724 717 43 701 889 43 665 697 2 385 1 04524.09 2 367 2 320 9 743 715 43 526 888 43 479 703 2 371 1 03625.09 2 382 2 342 9 781 720 43 822 891 43 775 707 2 385 1 04326.09 2 357 2 339 9 730 717 43 462 889 43 392 712 2 369 1 03127.09 2 376 2 346 9 821 717 43 763 886 43 711 710 2 392 1 03628.09 2 371 2 353 9 851 719 43 740 880 43 698 712 2 392 1 03301.10 2 400 2 373 9 899 720 44 183 883 44 143 721 2 413 1 04602.10 2 399 2 380 9 983 723 44 232 892 44 172 732 2 413 1 04403.10 2 389 2 380 9 964 726 44 096 880 44 051 727 2 410 1 04104.10 2 370 2 374 9 973 728 43 840 881 43 777 732 2 393 1 03305.10 2 411 2 406 10 095 732 44 525 890 44 461 739 2 423 1 04908.10 2 401 2 402 10 112 733 44 377 885 44 305 735 2 414 1 04409.10 2 376 2 403 10 043 732 44 027 867 43 985 721 2 402 1 03710.10 2 392 2 403 10 017 729 44 234 878 44 203 708 2 402 1 03911.10 2 394 2 395 9 995 732 44 225 880 44 184 712 2 400 1 03812.10 2 376 2 390 10 009 733 43 988 883 43 935 712 2 399 1 03315.10 2 377 2 405 10 009 730 44 051 879 44 017 708 2 410 1 03416.10 2 398 2 434 10 088 733 44 441 869 44 428 712 2 421 1 04317.10 2 392 2 436 10 051 734 44 354 875 44 329 711 2 386 1 03518.10 2 398 2 467 10 093 739 44 550 881 44 507 715 2 395 1 04119.10 2 350 2 422 10 029 736 43 759 896 43 671 714 2 345 1 02322.10 2 351 2 417 9 970 736 43 729 900 43 629 716 2 338 1 02323.10 2 310 2 408 9 886 730 43 146 900 43 033 711 2 307 1 00824.10 2 322 2 412 9 885 731 43 305 896 43 200 710 2 315 1 01125.10 2 329 2 406 9 848 731 43 375 901 43 283 712 2 327 1 01126.10 2 320 2 406 9 843 733 43 264 898 43 176 708 2 322 1 00729.10 2 316 2 400 9 812 736 43 177 890 43 103 699 2 316 1 00330.10 2 323 2 393 9 785 737 43 240 887 43 179 697 2 324 1 00631.10 2 318 2 408 9 819 744 43 232 890 43 157 702 2 322 1 00402.11 2 346 2 401 9 827 746 43 582 881 43 544 689 2 337 1 02005.11 2 344 2 409 9 789 746 43 568 891 43 526 687 2 331 1 021


135

Fact Book 2013

Session (dd.mm)


CEEWIG-

PolandWIG-


06.11 2 343 2 424 9 775 746 43 601 886 43 573 681 2 346 1 01607.11 2 325 2 410 9 720 742 43 304 887 43 268 679 2 334 1 00908.11 2 338 2 402 9 686 741 43 429 884 43 400 674 2 333 1 01609.11 2 324 2 398 9 683 737 43 210 862 43 196 668 2 320 1 00812.11 2 335 2 397 9 685 741 43 369 859 43 374 661 2 337 1 01313.11 2 354 2 396 9 661 739 43 610 865 43 623 662 2 356 1 01714.11 2 367 2 401 9 760 740 43 826 860 43 853 662 2 372 1 02215.11 2 372 2 388 9 746 739 43 846 876 43 861 655 2 372 1 02616.11 2 368 2 384 9 732 735 43 773 865 43 801 645 2 374 1 02919.11 2 404 2 415 9 773 741 44 369 856 44 425 645 2 414 1 03920.11 2 405 2 434 9 778 741 44 439 846 44 521 637 2 422 1 04121.11 2 386 2 443 9 765 741 44 218 836 44 308 631 2 412 1 03322.11 2 374 2 452 9 810 744 44 122 833 44 214 635 2 402 1 02823.11 2 398 2 450 9 822 745 44 437 837 44 516 639 2 412 1 03726.11 2 406 2 467 9 851 744 44 603 838 44 691 641 2 419 1 04027.11 2 407 2 480 9 848 744 44 655 844 44 719 657 2 421 1 04228.11 2 402 2 486 9 883 742 44 605 844 44 660 661 2 414 1 03729.11 2 411 2 490 9 956 749 44 788 848 44 840 661 2 426 1 04230.11 2 422 2 507 9 969 757 45 015 855 45 070 657 2 435 1 05203.12 2 443 2 500 9 990 760 45 293 864 45 337 659 2 453 1 05704.12 2 458 2 520 10 040 759 45 566 855 45 646 646 2 459 1 06905.12 2 469 2 537 10 057 761 45 773 851 45 858 653 2 474 1 07106.12 2 485 2 538 10 163 762 46 020 836 46 139 650 2 502 1 07207.12 2 451 2 534 10 143 763 45 538 833 45 643 650 2 466 1 05710.12 2 477 2 539 10 168 763 45 892 834 45 985 659 2 487 1 06411.12 2 513 2 573 10 271 767 46 517 843 46 626 672 2 539 1 07512.12 2 525 2 578 10 311 768 46 718 847 46 842 667 2 539 1 08013.12 2 519 2 583 10 301 770 46 654 844 46 777 666 2 541 1 07914.12 2 537 2 587 10 310 768 46 913 841 47 052 667 2 560 1 08517.12 2 552 2 585 10 294 766 47 089 840 47 230 670 2 575 1 08818.12 2 576 2 594 10 294 764 47 457 848 47 617 662 2 604 1 09519.12 2 603 2 626 10 348 762 47 921 843 48 093 661 2 636 1 10520.12 2 594 2 607 10 243 757 47 702 842 47 896 656 2 619 1 10421.12 2 583 2 567 10 313 761 47 480 839 47 697 640 2 597 1 10127.12 2 601 2 556 10 377 766 47 673 831 47 941 643 2 613 1 10628.12 2 583 2 553 10 444 770 47 461 833 47 710 645 2 591 1 103

▲ All-year high for 2012 ▼ All-year low for 2012


▲ ▲

▲

▲ ▲▲

136

WSE Main List

Investors

At the end of 2012 the number of invest-ment accounts at various brokerage offices and houses reached 1.5 million. Regular studies conducted by the WSE offer information on the structure of its investors. The 2012 results show that foreign investors had the highest share in Main List trading (48%), followed by domestic institutional investors (34%) and individual investors (18%). For the second time in the history of those studies the previous year’s result remained virtually the same one year later.

Individual investors account for the larg-est share of derivatives trading. They gen-erated 47% of trading in futures contracts

and 50% in options. Domestic institutional investors were responsible for 36% of the futures trading volume and 39% of options trading whereas foreign investors gener-ated 17% of futures trading and 11% of op-tions trading. There have been no changes in the geographical origin of foreign brokers or in types of domestic financial institutions which trade in equities. Brokers from the UK prevail among foreign investors whereas investment funds and open-end pension funds represent the largest groups among domestic institutions.

Investor structure (% share in trading)

Investors Instruments 2012 2011 2010 2009 2008

Foreign shares 48 47 47 36 43

futures contracts 17 16 14 11 10

options 11 24 12 4 12

Domestic individual shares 18 18 19 27 18


options 50 64 60 65 58

Domestic institutional shares 34 35 34 37 39


options 39 12 28 31 30

137

Fact Book 2013

Investor structure – share in WSE Main List trading in 2012 – Equities

Domestic institutional investors

Domestic individual investors

Foreign investors

18%

34%

48%

Investor structure – share in WSE trading in 2012 – Futures contracts

47%

36%

17%



Foreign investors

138

WSE Main List

Investor structure – share in WSE trading in 2012 – Options

50%

39%

11%



Foreign investors

SecuritySecurity of funds accumulated on invest-ment accounts is guaranteed under the in-vestor compensation scheme, managed by the National Depository for Securities (NDS) and supervised by the Polish Financial Su-pervision Authority (PFSA). The scheme aims to provide additional protection for in-vestors’ assets registered on accounts and to compensate for the value of lost securities and proprietary rights to which investors are entitled as part of compensation for assets. Under the scheme, investors receive com-pensation for assets accumulated on their accounts up to a limit set by law in case the entity which maintained their account (e.g. a brokerage house) goes bankrupt. This solu-tion is in line with the current EU legislation. The scheme is funded from annual fees paid by brokerage houses and banks which man-age securities accounts. Participation in the scheme is obligatory for those entities.

TaxationCapital gains earned by Polish natural per-sons are taxed at a flat rate of 19%. The same rate applies to capital gains earned by legal persons.

Foreign investors are generally subject to the same regulations as domestic ones, with their tax obligations being additionally regulated by the respective double taxation avoidance treaties. Pursuant to such trea-ties, income realised by foreign investors on the WSE is taxed according to their country of residence (domicile). However, in order to take advantage of those provisions, foreign investors must produce a certificate of tax residence, otherwise their income will be taxed in Poland (at a rate of 19%).

139

Fact Book 2013

The essential legal act which regulates the of-fering and introduction of shares to trading on a regulated market is entitled the Act on Public Offering, Conditions Governing the In-troduction of Financial Instruments to Organ-ised Trading, and on Public Companies, of 29 July 2005, with subsequent amendments. An-other important document is the Commission Regulation (EC) No. 809/2004 of 29 April 2004 which concerns information to be included in prospectuses. Attention must also be drawn to the WSE internal regulations, including the WSE Rules which define, inter alia, terms and conditions under which financial instruments are admitted and introduced to trading, as well as fees payable by issuers in connection with their WSE-quoted instruments.

The following section outlines the steps to be taken by a company which plans a listing on the Warsaw Stock Exchange.

Shares listed on the WSE may be issued only by joint stock companies. This does not exclude entities with any other legal status, however their owners need to either transform the prospective issuer into a joint stock company or establish a joint stock company and contribute the necessary assets.

As a next step, the General Sharehold-ers Meeting should adopt a resolution approving a public offering (or a new is-sue) of shares, dematerialisation of the shares, and an application for admission of the shares to trading on the regulated market.

Once the decision to apply for admission to trading on the regulated market has been adopted, the company will need to prepare a relevant information docu-ment (prospectus or offering memoran-dum) and work with the following enti-ties during the process:

an auditor, who will audit the com-pany’s financial statements and convert them into a format that allows year-to-year comparability,

a brokerage house, which will offer the company’s shares for sale in a public offering.

Depending on the issuer’s specific needs, legal and financial advisors may be hired, which is a common practice. The detailed contents of the prospectus are specified in Commission Regulation (EC) No. 809/2004 of 29 April 2004 regarding information con-tained in prospectuses. Prior to an IPO, a company may also sign an agreement with an underwriter to secure the issue against a potential failure.

Next, the company will need to submit an application for the approval of its pro-spectus to the Polish Financial Supervi-sion Authority (PFSA). The PFSA may communicate its comments on the pro-spectus and, once they have been incor-porated in the final draft, the PFSA will decide whether to approve the prospec-tus.

At this stage, the public offering may proceed. Rights to shares (PDA) may be traded on the WSE after the shares of a new issue have been allocated but not yet registered.

Once the offering has been closed, the company will submit an application for the admission of shares (or, possibly, also rights to shares which may be trad-ed between allotment and registration dates) to trading on the main or the paral-lel market. The application must include, inter alia, of the approved prospectus.

Once the National Depository for Securi-ties has made a decision regarding regis-tration, the company applies to the WSE Management Board for the shares to be

WSE Listing Process – Regulated Market

140

WSE Main List

introduced to trading on either the main or the parallel market. The WSE Manage-ment Board will then specify the trading

system and the date of the first trading session (market floatation).

Selected terms of admission for shares on the regulated marketShares to be admitted to trading (on the main or parallel market) should meet the following criteria:– The required information document has been prepared and approved by the competent regulator (PFSA), or an infor-

mation document has been prepared and its equivalence with the requirements of the Act on Public Offering has been established, unless such preparation or approval is not required;

– Marketability of shares is not restricted;– No insolvency or liquidation proceedings are in progress against the issuer’s enterprise;– Capitalisation of the company (i.e. all issuer’s shares multiplied by the anticipated market price) should be equal to or

higher than the PLN equivalent of EUR 15,000,000 (except issuers which had at least one issue of shares in trading on another regulated market or on NewConnect for at least 6 months, with the required capitalisation of EUR 12,000,000);

– Shareholders, each of whom holds less than 5% votes at the issuer’s General Meeting, hold at least: – 15% of shares covered by the application, – 100,000 shares worth min. EUR 1,000,000, calculated at the most recent selling price or issue price, – shares are held by such a number of shareholders which enables liquid trading on the stock exchange.

When submitting an application for admission, the issuer is under the obligation to provide the WSE with a document called ‘an investment company’s opinion’ regarding the issuer’s adherence to the listing requirements on either the main or the parallel market.

Shares may be admitted to trading on the main floor provided that they additionally meet the requirements specifiedin the Finance Minister’s ordinance of 12 May 2010, i.e.:– All shares covered by the admission application are of the same type;– Either shareholders, each of whom holds less than 5% votes at the issuer’s General Meeting, hold at least 25% of shares

covered by the admission application, or shareholders, each of whom holds less than 5% votes at the issuer’s General Meeting, hold at least 500,000 shares in the company, with the total value representing the PLN equivalent of at least EUR 17,000,000 (if this requirement is not met, shares may nevertheless be admitted if the WSE Management Board decides that the number of shares in the application, the manner of subscription or the manner of sale offers reasonable assurance that trading in those shares on the main market will be liquid);

– The issuer has published financial statements accompanied by an opinion from a certified auditor for at least three subsequent financial years preceding the application.

When reviewing an application for admission of financial instruments to trading, the Man-agement Board considers the following:

Issuer’s financial standing, current and projected, in particular the issuer’s profit-ability, liquidity and debt-servicing ability, as well as other factors which influence the issuer’s financial performance;

Issuer’s growth prospects, especially the capacity to carry out investment plans, and available sources of funding;

Experience and qualifications of mem-bers of the issuer’s governing and super-visory bodies;

Terms and conditions under which the se-curities were issued and compliance with

the rules of public trading, as defined in the joint resolutions adopted by the WSE Supervisory Board and the WSE Manage-ment Board,

Security of trading and interests of trad-ing participants,

Issuers’ applications are completed on a special WSE form and filed directly with the WSE Management Board. Once the complete application has been filed, the Management Board of the Warsaw Stock Exchange is obligated to adopt a resolution regarding admission or non-admission of the financial instruments concerned within 14 days.

141

Fact Book 2013Rocznik Giełdowy 2009

122

Rodowód spółek giełdowych*

* W nawiasach podano nazwy spółek, pod jakimi były ostatnio notowane lub są notowane obecnie

Rok Oferty Wchodzące Mieszana forma Prywatne o Prywatne SpółkiSkarbu w skład grup własności państwowym od początku parterowePaństwa kapitałowych rodowodzie programu NFI

ExbudKableKrosnoPróchnik

1991 SwarzędzTonsilWedelWólczankaŻywiec

BRE BIGElektrim (Millennium)

1992 Irena UniversalMostostal- -ExportOkocim

Polifarb- Mostostal- Efekt -Cieszyn -Warszawa

1993 SokołówWBK (BZWBK) Vistula

Agros Holding AmerBank Kredyt Bank ESPEBEPE Dom-PlastBSK (DZPOLSKA) Drosed OptimusDębica Kable BFK Indykpol (GrupaOnet)

1994 Jelfa (Elektrim Kable) KrakChemia PPABankPolifarb-Wrocław Remak (Alma) (Fortis Bank)Rafako Mostostal-ZabrzeRolimpex Novita(Provimi-Rolimpex) ProchemStalexport

Bank Gdański KPBP-BICK Animex Beton Stal ComputerLandBPH (BANKBPH) Mostostal- BWR (DBPBC) Budimex (Sygnity)

1995 Bytom -Gdańsk PBR Elektromontaż- Farm FoodGórażdże Pekpol -Export Zasada CentrumPolfa Kutno Petrobank JutrzenkaStomil Olsztyn (LG Petro Bank)

Warta

Elektrobudowa Bank Boryszew IGROUPKęty Komunalny Chemiskór EchoOława (Nordea Bank) (4Media) Forte

1996 Paged Lubawa KompapPolisa ŁDA Ocean

PPWK PLIRelpol (Nomi)

Bank Handlowy Budimex Poznań BOŚ Amica Wronki Ampli Bielbaw1997 Świecie Centrostal Gdańsk Apator Atlantis Ferrum

(Mondi Świecie) Elektromontaż - Biurosystem Bauma (ULMA) GrajewoHutmen -Warszawa (Stormm) (I&Bsystem) Best Izolacja (Icopal)Impexmetal

Rocznik Giełdowy 2009

122

Rodowód spółek giełdowych*



ExbudKableKrosnoPróchnik

1991 SwarzędzTonsilWedelWólczankaŻywiec

BRE BIGElektrim (Millennium)

1992 Irena UniversalMostostal- -ExportOkocim

Polifarb- Mostostal- Efekt -Cieszyn -Warszawa

1993 SokołówWBK (BZWBK) Vistula

Agros Holding AmerBank Kredyt Bank ESPEBEPE Dom-PlastBSK (DZPOLSKA) Drosed OptimusDębica Kable BFK Indykpol (GrupaOnet)

1994 Jelfa (Elektrim Kable) KrakChemia PPABankPolifarb-Wrocław Remak (Alma) (Fortis Bank)Rafako Mostostal-ZabrzeRolimpex Novita(Provimi-Rolimpex) ProchemStalexport

Bank Gdański KPBP-BICK Animex Beton Stal ComputerLandBPH (BANKBPH) Mostostal- BWR (DBPBC) Budimex (Sygnity)

1995 Bytom -Gdańsk PBR Elektromontaż- Farm FoodGórażdże Pekpol -Export Zasada CentrumPolfa Kutno Petrobank JutrzenkaStomil Olsztyn (LG Petro Bank)

Warta

Elektrobudowa Bank Boryszew IGROUPKęty Komunalny Chemiskór EchoOława (Nordea Bank) (4Media) Forte

1996 Paged Lubawa KompapPolisa ŁDA Ocean

PPWK PLIRelpol (Nomi)

Bank Handlowy Budimex Poznań BOŚ Amica Wronki Ampli Bielbaw1997 Świecie Centrostal Gdańsk Apator Atlantis Ferrum

(Mondi Świecie) Elektromontaż - Biurosystem Bauma (ULMA) GrajewoHutmen -Warszawa (Stormm) (I&Bsystem) Best Izolacja (Icopal)Impexmetal

*Names under which companies were last quoted or are currently quoted are given in brackets.

(Cogna)

KPBP-BICK(BICK)Mostostal- -Gdańsk

AnimexBWR (DBPBC)PBRPekpol(Arksteel)(Pointgroup)Petrobank(LG Petro Bank)Warta

Głó

wny

Ryn

ek G

PW

123

Głó

wn

y R

ynek

GP

W

Ro

do

wó

d s

pó

łek

gie

łdo

wyc

h*

(cd

.)

* W

naw

iasa

ch p

odan

o na

zwy

spół

ek, p

od ja

kim

i był

y os

tatn

io n

otow

ane

lub

są n

otow

ane

obec

nie

Rok

Ofer

tyW

chod

zące

Mie

szan

a fo

rma

Pryw

atne

o

Pryw

atne

Spół

kiSk

arbu

w s

kład

gru

pw

łasn

ości

pańs

twow

ymod

poc

zątk

upa

rter

owe

Pańs

twa

kapi

tało

wyc

hro

dow

odzi

epr

ogra

mu

NFI

KGHM

Ener

goap

arat

ura

Brok

Mie

szko

Lent

exKr

uszw

ica

Ener

gom

onta

ż-Płd

.El

po (M

aste

rs)

Strze

lec

PEPE

ES19

97Or

bis

Polig

rafia

GPRD

(Adv

ance

dPo

lifar

b Dę

bica

cd.

PBK

Stom

il Sa

nok

Mos

tost

al-Kr

. D

istri

butio

n Ro

pczy

cePo

lar W

rocł

awUn

ibud

Mos

tost

al-Sd

l.So

lutio

ns)

Visc

oplas

tW

KSM

Unim

il(P

OLIM

EXM

S)ZE

WZR

EWPo

zmea

t

Elek

troci

epło

wni

a-Bu

dopo

l Wro

cław

Bank

Cers

anit

AMS

Garb

arni

a Br

zeg

-

Będz

inDe

lia

Częs

toch

owa

Elza

bAS

Mot

ors

(Alc

hem

ia)

Kope

xEk

odro

bEn

ergo

pol

(Trit

on

Łukb

utM

enni

caEn

ergo

mon

taż-P

łn.

Fam

ot P

lesze

wDe

velo

pmen

t)LZ

PS P

rote

ktor

P

ańst

wow

aIn

stal

Lubl

inHy

drob

udow

a-Ap

exim

Milm

etBa

nk P

ekao

Man

omet

ry

-Gd

ańsk

Bako

ma

Mor

liny

Telek

omun

ikac

jaOd

lewni

e Po

lskie

Hydr

obud

owa-

Com

pens

aPo

lna

P

olsk

aZE

G

-Śl

ąsk

Euro

Bud

Inw

est

Pona

r-19

98Hy

drot

orGa

nt

-W

adow

ice

Jaro

sław

How

ellSa

nwil

Koło

Groc

linSt

omil

Mos

tost

al-Pł

ock

Med

icin

ies

(PGF

)

B

ełch

atów

Perm

edia

Mur

awsk

i Hol

ding

Waf

apom

pW

awel

Muz

aW

istil

WFM

Obo

rnik

iPi

a Pi

asec

kiPr

okom

Softb

ank

(Ass

eco

Pola

nd)

Suw

ary

TIM

Wilb

o Se

afoo

d

Yaw

al Sy

stem

(Yaw

al)

PKN

TUP

Cent

roza

pAg

ora

Peka

bex

Pem

ugCa

spol

(Fon

)Sk

otan

Poln

ord

Clif

Nafto

budo

wa

Com

arch

Inst

al Kr

aków

CSS

Proj

prze

mFa

rmac

olPo

llena

Ew

aLe

ta19

99KZ

WM

LTL

Mite

xOr

fePa

żur

Pros

per

StGr

oup

TU E

urop

aSt

er-P

roje

kt(A

BG S

ter-P

roje

kt)

Szep

tel (

MN

I)

Koge

nera

cja

Stalp

rofil

Beef

-San

EFL

Fasi

ng20

00M

PEC

Wro

cław

Krak

brok

ers

(For

tum

Wro

cław

)M

acro

soft

(Mac

rolo

gic)

* W

naw

iasa

ch p

od

ano

naz

wy

spó

łek,

po

d ja

kim

i był

y o

stat

nio

no

tow

ane

lub

są

noto

wan

e o

bec

nie.

Garb

arni

a Br

zeg

(Alc

hem

ia)

Łukb

utLZ

PS P

rote

ktor

(Pro

tekt

or)

Milm

etM

orlin

yPo

lna

Pona

r-

-Wad

owic

eSa

nwil

Stom

il

B

ełch

atów

Waf

apom

pW

istil

(Yaw

al) (

Alpr

as)

125

BoryszewChemiskór(4Media)LubawaŁDAPPWK (MIT)Relpol

(Calatrava)

(BNPPL)

(COLIAN)

Listed companies by origin*

Year Public offering by State Treasury

Held by holdings

Mixed ownership

Private but formerly state-held

Private become public

NIF underlying companies

142

WSE Main List

123

Główny Rynek GPW

Rodowód spółek giełdowych* (cd.)



KGHM Energoaparatura Brok Mieszko LentexKruszwica Energomontaż-Płd. Elpo (Masters) Strzelec PEPEES

1997 Orbis Poligrafia GPRD (Advanced Polifarb Dębicacd. PBK Stomil Sanok Mostostal-Kr. Distribution Ropczyce

Polar Wrocław Unibud Mostostal-Sdl. Solutions) ViscoplastWKSM Unimil (POLIMEXMS) ZEW

ZREW Pozmeat

Elektrociepłownia- Budopol Wrocław Bank Cersanit AMS Garbarnia Brzeg -Będzin Delia Częstochowa Elzab AS Motors (Alchemia)Kopex Ekodrob Energopol (Triton ŁukbutMennica Energomontaż-Płn. Famot Pleszew Development) LZPS Protektor Państwowa Instal Lublin Hydrobudowa- Apexim MilmetBank Pekao Manometry -Gdańsk Bakoma MorlinyTelekomunikacja Odlewnie Polskie Hydrobudowa- Compensa Polna Polska ZEG -Śląsk Euro Bud Inwest Ponar-

1998 Hydrotor Gant -WadowiceJarosław Howell SanwilKoło Groclin StomilMostostal-Płock Medicinies (PGF) BełchatówPermedia Murawski Holding WafapompWawel Muza WistilWFM Oborniki Pia Piasecki

ProkomSoftbank (Asseco Poland)SuwaryTIMWilbo Seafood

Yawal System (Yawal)

PKN TUP Centrozap Agora PekabexPemug Caspol (Fon) SkotanPolnord ClifNaftobudowa ComarchInstal Kraków CSSProjprzem FarmacolPollena Ewa Leta

1999 KZWM LTLMitexOrfePażurProsperStGroupTU EuropaSter-Projekt(ABG Ster-Projekt)Szeptel (MNI )

Kogeneracja Stalprofil Beef-San EFL Fasing2000 MPEC Wrocław Krakbrokers

(Fortum Wrocław) Macrosoft(Macrologic)


Głó

wny

Ryn

ek G

PW

123

Głó

wn

y R

ynek

GP

W

Ro

do

wó

d s

pó

łek

gie

łdo

wyc

h*

(cd

.)

* W

naw

iasa

ch p

odan

o na

zwy

spół

ek, p

od ja

kim

i był

y os

tatn

io n

otow

ane

lub

są n

otow

ane

obec

nie

Rok

Ofer

tyW

chod

zące

Mie

szan

a fo

rma

Pryw

atne

o

Pryw

atne

Spół

kiSk

arbu

w s

kład

gru

pw

łasn

ości

pańs

twow

ymod

poc

zątk

upa

rter

owe

Pańs

twa

kapi

tało

wyc

hro

dow

odzi

epr

ogra

mu

NFI

KGHM

Ener

goap

arat

ura

Brok

Mie

szko

Lent

exKr

uszw

ica

Ener

gom

onta

ż-Płd

.El

po (M

aste

rs)

Strze

lec

PEPE

ES19

97Or

bis

Polig

rafia

GPRD

(Adv

ance

dPo

lifar

b Dę

bica

cd.

PBK

Stom

il Sa

nok

Mos

tost

al-Kr

. D

istri

butio

n Ro

pczy

cePo

lar W

rocł

awUn

ibud

Mos

tost

al-Sd

l.So

lutio

ns)

Visc

oplas

tW

KSM

Unim

il(P

OLIM

EXM

S)ZE

WZR

EWPo

zmea

t

Elek

troci

epło

wni

a-Bu

dopo

l Wro

cław

Bank

Cers

anit

AMS

Garb

arni

a Br

zeg

-

Będz

inDe

lia

Częs

toch

owa

Elza

bAS

Mot

ors

(Alc

hem

ia)

Kope

xEk

odro

bEn

ergo

pol

(Trit

on

Łukb

utM

enni

caEn

ergo

mon

taż-P

łn.

Fam

ot P

lesze

wDe

velo

pmen

t)LZ

PS P

rote

ktor

P

ańst

wow

aIn

stal

Lubl

inHy

drob

udow

a-Ap

exim

Milm

etBa

nk P

ekao

Man

omet

ry

-Gd

ańsk

Bako

ma

Mor

liny

Telek

omun

ikac

jaOd

lewni

e Po

lskie

Hydr

obud

owa-

Com

pens

aPo

lna

P

olsk

aZE

G

-Śl

ąsk

Euro

Bud

Inw

est

Pona

r-19

98Hy

drot

orGa

nt

-W

adow

ice

Jaro

sław

How

ellSa

nwil

Koło

Groc

linSt

omil

Mos

tost

al-Pł

ock

Med

icin

ies

(PGF

)

B

ełch

atów

Perm

edia

Mur

awsk

i Hol

ding

Waf

apom

pW

awel

Muz

aW

istil

WFM

Obo

rnik

iPi

a Pi

asec

kiPr

okom

Softb

ank

(Ass

eco

Pola

nd)

Suw

ary

TIM

Wilb

o Se

afoo

d

Yaw

al Sy

stem

(Yaw

al)

PKN

TUP

Cent

roza

pAg

ora

Peka

bex

Pem

ugCa

spol

(Fon

)Sk

otan

Poln

ord

Clif

Nafto

budo

wa

Com

arch

Inst

al Kr

aków

CSS

Proj

prze

mFa

rmac

olPo

llena

Ew

aLe

ta19

99KZ

WM

LTL

Mite

xOr

fePa

żur

Pros

per

StGr

oup

TU E

urop

aSt

er-P

roje

kt(A

BG S

ter-P

roje

kt)

Szep

tel (

MN

I)

Koge

nera

cja

Stalp

rofil

Beef

-San

EFL

Fasi

ng20

00M

PEC

Wro

cław

Krak

brok

ers

(For

tum

Wro

cław

)M

acro

soft

(Mac

rolo

gic)

* W

naw

iasa

ch p

od

ano

naz

wy

spó

łek,

po

d ja

kim

i był

y o

stat

nio

no

tow

ane

lub

są

noto

wan

e o

bec

nie.

Garb

arni

a Br

zeg

(Alc

hem

ia)

Łukb

utLZ

PS P

rote

ktor

(Pro

tekt

or)

Milm

etM

orlin

yPo

lna

Pona

r-

-Wad

owic

eSa

nwil

Stom

il

B

ełch

atów

Waf

apom

pW

istil

(Yaw

al) (

Alpr

as)

125

Głó

wny

Ryn

ek G

PW

123

Głó

wn

y R

ynek

GP

W

Ro

do

wó

d s

pó

łek

gie

łdo

wyc

h*

(cd

.)

* W

naw

iasa

ch p

odan

o na

zwy

spół

ek, p

od ja

kim

i był

y os

tatn

io n

otow

ane

lub

są n

otow

ane

obec

nie

Rok

Ofer

tyW

chod

zące

Mie

szan

a fo

rma

Pryw

atne

o

Pryw

atne

Spół

kiSk

arbu

w s

kład

gru

pw

łasn

ości

pańs

twow

ymod

poc

zątk

upa

rter

owe

Pańs

twa

kapi

tało

wyc

hro

dow

odzi

epr

ogra

mu

NFI

KGHM

Ener

goap

arat

ura

Brok

Mie

szko

Lent

exKr

uszw

ica

Ener

gom

onta

ż-Płd

.El

po (M

aste

rs)

Strze

lec

PEPE

ES19

97Or

bis

Polig

rafia

GPRD

(Adv

ance

dPo

lifar

b Dę

bica

cd.

PBK

Stom

il Sa

nok

Mos

tost

al-Kr

. D

istri

butio

n Ro

pczy

cePo

lar W

rocł

awUn

ibud

Mos

tost

al-Sd

l.So

lutio

ns)

Visc

oplas

tW

KSM

Unim

il(P

OLIM

EXM

S)ZE

WZR

EWPo

zmea

t

Elek

troci

epło

wni

a-Bu

dopo

l Wro

cław

Bank

Cers

anit

AMS

Garb

arni

a Br

zeg

-

Będz

inDe

lia

Częs

toch

owa

Elza

bAS

Mot

ors

(Alc

hem

ia)

Kope

xEk

odro

bEn

ergo

pol

(Trit

on

Łukb

utM

enni

caEn

ergo

mon

taż-P

łn.

Fam

ot P

lesze

wDe

velo

pmen

t)LZ

PS P

rote

ktor

P

ańst

wow

aIn

stal

Lubl

inHy

drob

udow

a-Ap

exim

Milm

etBa

nk P

ekao

Man

omet

ry

-Gd

ańsk

Bako

ma

Mor

liny

Telek

omun

ikac

jaOd

lewni

e Po

lskie

Hydr

obud

owa-

Com

pens

aPo

lna

P

olsk

aZE

G

-Śl

ąsk

Euro

Bud

Inw

est

Pona

r-19

98Hy

drot

orGa

nt

-W

adow

ice

Jaro

sław

How

ellSa

nwil

Koło

Groc

linSt

omil

Mos

tost

al-Pł

ock

Med

icin

ies

(PGF

)

B

ełch

atów

Perm

edia

Mur

awsk

i Hol

ding

Waf

apom

pW

awel

Muz

aW

istil

WFM

Obo

rnik

iPi

a Pi

asec

kiPr

okom

Softb

ank

(Ass

eco

Pola

nd)

Suw

ary

TIM

Wilb

o Se

afoo

d

Yaw

al Sy

stem

(Yaw

al)

PKN

TUP

Cent

roza

pAg

ora

Peka

bex

Pem

ugCa

spol

(Fon

)Sk

otan

Poln

ord

Clif

Nafto

budo

wa

Com

arch

Inst

al Kr

aków

CSS

Proj

prze

mFa

rmac

olPo

llena

Ew

aLe

ta19

99KZ

WM

LTL

Mite

xOr

fePa

żur

Pros

per

StGr

oup

TU E

urop

aSt

er-P

roje

kt(A

BG S

ter-P

roje

kt)

Szep

tel (

MN

I)

Koge

nera

cja

Stalp

rofil

Beef

-San

EFL

Fasi

ng20

00M

PEC

Wro

cław

Krak

brok

ers

(For

tum

Wro

cław

)M

acro

soft

(Mac

rolo

gic)

* W

naw

iasa

ch p

od

ano

naz

wy

spó

łek,

po

d ja

kim

i był

y o

stat

nio

no

tow

ane

lub

są

noto

wan

e o

bec

nie.

Garb

arni

a Br

zeg

(Alc

hem

ia)

Łukb

utLZ

PS P

rote

ktor

(Pro

tekt

or)

Milm

etM

orlin

yPo

lna

Pona

r-

-Wad

owic

eSa

nwil

Stom

il

B

ełch

atów

Waf

apom

pW

istil

(Yaw

al) (

Alpr

as)

125

Garbarnia Brzeg(Alchemia)ŁukbutLZPS Protektor(Protektor)MilmetMorlinyPolnaPonar-Wadowice (KCI)SanwilStomil BełchatówWafapompWistil

(Yawal) (Alpras)

(AWBUD)

Medicinies (PGF)(PELION)

(PBS FINANSE)

(Rovese)

(Ideon)

Listed companies by origin* (contd.)


Held by holdings

Mixed ownership




143


124




Netia2000 Simple cd. Talex

WandalexPUE (ZPUE)

Getin.pl (Getin) ElkopHoga.pl (Wasko)LPP

2001 MCI ManagmentTras Tychy (Trion)Interia.plGki

Optimus Eldorado (Emperia)2002 Telmax (Spin)

KrukEmax

BACA DudaHoop

2003 ImpelRedanŚnieżka

WSiP Globe Trade Centre Borsodchem RT. ATM Grupa Dwory (Synthos)PKOBP TVN FAM - Technika Plastbox

Odlewnicza BetacomPekaes DGAMOL Techmex

Inter CarsJC AutoArtmanHygienikaSM Media (Mediatel)Broker FMCeramika Nowa Gala

2004 Elstar OilsPBGCapital PartnersComp Rzeszów(Assecopol)ATMSwissmedTorfarmKoelnerCCCPratermPolcoloritIvax CorporationBMP AktiengesellschaftDrozapol-ProfilEurofaktor


(Kofola)

Torfarm (Neuca)

(CDRED)

(KB Dom)

(Gremisltn)



Held by holdings

Mixed ownership




144

WSE Main List

125

Główny Rynek GPW




Ciech Bioton Barlinek Ambra ŚrubexLotos Novitus Opoczno AmRest HoldingsPGNiG Polmos Lublin Atlanta PolandPolice Zetkama CompPolmos Białystok ZTS DecoraPuławy Ząbkowice-Erg EMC Instytut MedycznyZelmer (Erg) Eurocash

Graal2005 IDM (DM IDM)

JagoLena LightingPC GuardPEPSkyEuropeSprayTellTetaToora PolandTravelplanet.plVariant

Ruch Interferie CEZ North Coast FamurCash FlowSfinksEurofilms (Ergis)Bankier.plPamapolMispolGino RossiIntersport PolskaeCardInwest ConsultingActionQumak-SekomAstarta HoldingHyperionOne-2-OneUnima 2000

2006 ABEuromark PolskaAsseco SlovakiaDom DevelopmentNetmediaMultimedia PolskaHTL StrefaFotaŻurawie WieżoweCinema CityBakallandArteriaMonnari TradeCEDCLSI SoftwarePegas NonwovensEurotel


(Investcon)

(Alterco)Śrubex

Głó

wny

Ryn

ek G

PW

123

Głó

wn

y R

ynek

GP

W

Ro

do

wó

d s

pó

łek

gie

łdo

wyc

h*

(cd

.)

* W

naw

iasa

ch p

odan

o na

zwy

spół

ek, p

od ja

kim

i był

y os

tatn

io n

otow

ane

lub

są n

otow

ane

obec

nie

Rok

Ofer

tyW

chod

zące

Mie

szan

a fo

rma

Pryw

atne

o

Pryw

atne

Spół

kiSk

arbu

w s

kład

gru

pw

łasn

ości

pańs

twow

ymod

poc

zątk

upa

rter

owe

Pańs

twa

kapi

tało

wyc

hro

dow

odzi

epr

ogra

mu

NFI

KGHM

Ener

goap

arat

ura

Brok

Mie

szko

Lent

exKr

uszw

ica

Ener

gom

onta

ż-Płd

.El

po (M

aste

rs)

Strze

lec

PEPE

ES19

97Or

bis

Polig

rafia

GPRD

(Adv

ance

dPo

lifar

b Dę

bica

cd.

PBK

Stom

il Sa

nok

Mos

tost

al-Kr

. D

istri

butio

n Ro

pczy

cePo

lar W

rocł

awUn

ibud

Mos

tost

al-Sd

l.So

lutio

ns)

Visc

oplas

tW

KSM

Unim

il(P

OLIM

EXM

S)ZE

WZR

EWPo

zmea

t

Elek

troci

epło

wni

a-Bu

dopo

l Wro

cław

Bank

Cers

anit

AMS

Garb

arni

a Br

zeg

-

Będz

inDe

lia

Częs

toch

owa

Elza

bAS

Mot

ors

(Alc

hem

ia)

Kope

xEk

odro

bEn

ergo

pol

(Trit

on

Łukb

utM

enni

caEn

ergo

mon

taż-P

łn.

Fam

ot P

lesze

wDe

velo

pmen

t)LZ

PS P

rote

ktor

P

ańst

wow

aIn

stal

Lubl

inHy

drob

udow

a-Ap

exim

Milm

etBa

nk P

ekao

Man

omet

ry

-Gd

ańsk

Bako

ma

Mor

liny

Telek

omun

ikac

jaOd

lewni

e Po

lskie

Hydr

obud

owa-

Com

pens

aPo

lna

P

olsk

aZE

G

-Śl

ąsk

Euro

Bud

Inw

est

Pona

r-19

98Hy

drot

orGa

nt

-W

adow

ice

Jaro

sław

How

ellSa

nwil

Koło

Groc

linSt

omil

Mos

tost

al-Pł

ock

Med

icin

ies

(PGF

)

B

ełch

atów

Perm

edia

Mur

awsk

i Hol

ding

Waf

apom

pW

awel

Muz

aW

istil

WFM

Obo

rnik

iPi

a Pi

asec

kiPr

okom

Softb

ank

(Ass

eco

Pola

nd)

Suw

ary

TIM

Wilb

o Se

afoo

d

Yaw

al Sy

stem

(Yaw

al)

PKN

TUP

Cent

roza

pAg

ora

Peka

bex

Pem

ugCa

spol

(Fon

)Sk

otan

Poln

ord

Clif

Nafto

budo

wa

Com

arch

Inst

al Kr

aków

CSS

Proj

prze

mFa

rmac

olPo

llena

Ew

aLe

ta19

99KZ

WM

LTL

Mite

xOr

fePa

żur

Pros

per

StGr

oup

TU E

urop

aSt

er-P

roje

kt(A

BG S

ter-P

roje

kt)

Szep

tel (

MN

I)

Koge

nera

cja

Stalp

rofil

Beef

-San

EFL

Fasi

ng20

00M

PEC

Wro

cław

Krak

brok

ers

(For

tum

Wro

cław

)M

acro

soft

(Mac

rolo

gic)

* W

naw

iasa

ch p

od

ano

naz

wy

spó

łek,

po

d ja

kim

i był

y o

stat

nio

no

tow

ane

lub

są

noto

wan

e o

bec

nie.

Garb

arni

a Br

zeg

(Alc

hem

ia)

Łukb

utLZ

PS P

rote

ktor

(Pro

tekt

or)

Milm

etM

orlin

yPo

lna

Pona

r-

-Wad

owic

eSa

nwil

Stom

il

B

ełch

atów

Waf

apom

pW

istil

(Yaw

al) (

Alpr

as)

125

Żurawie (Gastelzur) (HERKULES)



Held by holdings

Mixed ownership




145


126




Asseco Krakowska ABM Solid Izolacja-Jarocin Business Solutions Fabryka Armatur Automotive KPPDElektrotim Bipromet Components MewaHydrobudowa Rafamet Europe Orzeł Biały Włocławek Resbud Arcus Orzeł(Hydrobudowa POL-MOT ASBISc Enterprises Radpol Polska) Warfama B3System ZUK StąporkówKrakchemia Zastal Bomi ZNTK w ŁapachLC Corp Budvar CentrumMOJ City InteractiveNoble Bank ComplexPetrolinvest CP EnergiaPol-Aqua DROP

Europejski Fundusz HipotecznyEnergoinstalErbudES-SYSTEMGadu-GaduGrupa Finansowa PremiumVentus (Hawe)HelioImmoeastInteger.plINTROLInfovide-Matrix

2007 J.W.ConstructionKAREN NOTEBOOKKernel HoldingGrupa KolastynaKomputrronikKonsorcjum StaliKREDYT INKASOMagellanMakarony PolskieMakrumMercorNepentesNTT SystemOlympic Entertainment GroupOponeo.plOrco Property GroupP.A. NovaPlaza Centers PolRestPrima Moda ProcadPronox TechnologyQuantum Software Rainbow Tours Reinhold PolskaRonson Europe


Noble Bank (Getinoble)

(PRAGMAFA)

(CCENERGY)

(MIRACULUM)



Held by holdings

Mixed ownership




146

WSE Main List

127

Główny Rynek GPW




Seco/WarwickSekoPTA Group (Silvano)Pani Teresa Medica

2007 TelForceOnecd. UniCredit Italiano

WarimpexWieltonWola Info

Zakłady Azotowe Chemoservis-Dwory Trakcja Polska Atlas Estates IZNS Iława w Tarnowie Unibep Optopol TechnologyEnea Zremb-Chojnice ZM Herman

Centrozap Skyline InvestmentPower MediaWojasHardexSelena FMBelvedereK2 InternetCyfrowy PolsatCAM MEDIA

2008 SKOKNew World Resources DrewexGrupa KościuszkoPozbud T&RMarvipolSonelPZ CormayAD. DrągowskiAtremM.W. TradeMirbudAnti

2009

BogdankaPGE

Assecosee CentklimaBumechVindexusAplisensIpopemaDelkoArcticPatentusPccinterIntakus

2010

PZU TAURONPE GPW

KOVABCDATA

DSS EKOHOLDFASTFINFERROBERLINGPRAGMALSTCAPITARANKPROTESGASHARPEROTMUCHOWZUE


(Poljadło)

(Kania)

(IF Capital)

(Libra)

(Greeneco)



Held by holdings

Mixed ownership




147


126




Asseco Krakowska ABM Solid Izolacja-Jarocin Business Solutions Fabryka Armatur Automotive KPPDElektrotim Bipromet Components MewaHydrobudowa Rafamet Europe Orzeł Biały Włocławek Resbud Arcus Orzeł(Hydrobudowa POL-MOT ASBISc Enterprises Radpol Polska) Warfama B3System ZUK StąporkówKrakchemia Zastal Bomi ZNTK w ŁapachLC Corp Budvar CentrumMOJ City InteractiveNoble Bank ComplexPetrolinvest CP EnergiaPol-Aqua DROP

Europejski Fundusz HipotecznyEnergoinstalErbudES-SYSTEMGadu-GaduGrupa Finansowa PremiumVentus (Hawe)HelioImmoeastInteger.plINTROLInfovide-Matrix

2007 J.W.ConstructionKAREN NOTEBOOKKernel HoldingGrupa KolastynaKomputrronikKonsorcjum StaliKREDYT INKASOMagellanMakarony PolskieMakrumMercorNepentesNTT SystemOlympic Entertainment GroupOponeo.plOrco Property GroupP.A. NovaPlaza Centers PolRestPrima Moda ProcadPronox TechnologyQuantum Software Rainbow Tours Reinhold PolskaRonson Europe


2010 cd.

OPTEAMINTERBUDPOLMEDKRECEDINVESTFORTUNAROBYGAGROTONTRANSPOL4FUNMEDIAPTIMIKILANDVOTUMCELTICEKOEXPORTEUCOSADOVAY

2011

BGZJSW

IZOSTALIDEATFIOPENFINPBOANIOLAJHMDEVZAMETPGODLEW

BSCDRUKWADEXINPROMEGARONAVIASGESTAREUIMPLANTQUERCUSKINOPOLADVGRUPABENEFITLIBETMILKILANDKSGAGRONEWWORLDRKRUKNOVAKBMENELMEDWESTAOVOSTARAGROWILLDMWDMPRESCOCOALENERGACAUTOGAZTOYAIQPARTNERSSOPHARMAEUROHOLD

2012

BOWIM GETINOBLE INTERAOLTCZTOREBKA

NOKAUT VANTAGE KRKA SOLAR MOBRUK WORKSERV MEXPOLSKA ATMSI PCCEXOL KDMSHIPNG TATRY VOXEL EXILLON ZEPAK ALIOR

(NEWWORLDN)



Held by holdings

Mixed ownership




148

WSE Main List

WSE Partner Programmes

To help companies find reliable partners of-fering support prior to a listing, the Warsaw Stock Exchange (WSE) runs two dedicated partner programmes: WSE IPO Partners to SMEs and WSE IPO Partners – Primary Mar-ket Leaders.

The aim of the programmes is to provide support for organisations which seek to raise inexpensive funds from the public market in collaboration with firms experi-enced in floatations of SMEs. WSE Partners can be selected from four categories: bro-kerage houses, certified auditors, legal firms and financial advisors.

The WSE endeavours to attract foreign issu-ers in a variety of ways, notably through the WSE IPO Partner Programmes.

WSE IPO Partners for SMEs

The logo of ‘WSE IPO Partner for SMEs’ is granted to investment companies, legal firms, auditors and financial consultants par-ticipating in IPOs (initial public offerings) of up to PLN 100 million, where the cost to the issuer (cost of service rendered by the in-vestment company and other advisors) does not exceed 5% of the value of the issue and those issues were floated on the WSE Main List.

Brokerage Houses

Biuro Maklerskie Banku DnB NORD Polska S.A.www.bmbndnord.pl

Dom Inwestycyjny BRE BANKU S.A.www.brebrokers.com.pl

Dom Maklerski Capital Partners S.A.www.dmcp.com.pl

Millennium Dom Maklerski S.A.www.millenniumdm.pl

NOBLE Securities S.A.www.noblesecurities.p

Trigon Dom Maklerski S.A.www.trigon.pl

Statutory Auditors

PKF Consult Sp. z o.o.www.pkfconsult.com.pl

DORADCA Zespół DoradcówFinansowo-Księgowych Sp. z o.o.www.doradca.lublin.pl

GRUPA FINANS-SERVISwww.doradca.lublin.pl

Kancelaria Porad Finansowo-Księgowychdr Piotr Rojek Sp. z o.o.www.kpfk.pl

Moore Stephens Trzemżalski, Krynickii Partnerzy Kancelaria BiegłychRewidentów Sp. z o.o.www.moorestephens.gda.pl

POLINVEST-AUDIT Sp. z o.o.www.polinwest-audit.pl

List of WSE IPO Partners for SMEs(as of February 2013)

149

Fact Book 2013

AdAc Sp. z o.o.www.adac.pl

BDO Sp. z o.o.www.bdo.pl

Grant Thornton Frąckowiak Sp. z o.o. S.k.www.grantthornton.pl

REWIT Księgowi i Biegli Rewidenci Sp. z o.o.www.rewit.com.pl

ECA AUXILIUM S.A.www.auxilium.com.pl

DGA Audyt Sp. z o.o.www.dga.pl/audyt

LEX-FIN Sp. z o.o.www.audyt.com.pl

Baker Tilly Poland Audit Sp. z o.o.www.bakertillypoland.eu

4Audyt Sp. z o.o.www.4aAudyt.pl

Law Firms

Kancelaria CSW Więckowska i PartnerzyRadcy Prawniwww.kancelaria-csw.pl

Łatała i Wspólnicy spółka komandytowawww.latala.com.pl

Kancelaria prof. Marek Wierzbowski i Partnerzy- Adwokaci i Radcowie Prawniwww.wierzbowski.com

GIDE LOYRETTE NOUEL Tokarczuk, Jędrzejczyki Wspólnicy Kancelaria Prawna GLN Spółka Komandytowawww.gide.com

Forystek & Partnerzy Adwokaci i Radcowie Prawniwww.forystek.pl

Kancelaria Radców Prawnych Oleś & Rodzynk-iewicz Spółka Komandytowa www.oles.com.pl

Weil, Gotshal & Manges- Paweł Rymarz Spółka Komandytowawww.weil.com

WKB Wierciński, Kwieciński, Baehrwww.wkw.pl

Stolarek & GrabalskiKancelaria Prawnicza Sp. K.www.msag.pl

White & Case W. Daniłowicz, W. Jurcewiczi Wspólnicy - Kancelaria Prawna sp.kwww.whitecase.pl

Tomasik, Pakosiewicz i Wspólnicy s.k.www.tpw.net.pl

Łuczyński i Wspólnicy sp.k.Kancelaria Prawniczawww.liwlegal.pl

Financial Advisors

Dom Maklerski BZ WBK S.A.www.dmbzwbk.pl

IDMSA.PL Doradztwo Finansowe Sp. z o.o.www.idmsa.pl

GoAdvisers S.A. zmieniona nazwa na Letus Capital S.A.www.goadvisers.com

BRE Corporate Finance S.A.www.bcf.pl

Doradztwo dla Polskich PrzedsiębiorstwCorporate Finance Sp. z o.o. Sp.k.www.ddpp.com.pl

TP Invest Sp. z o.o.www.tpinvest.pl

INVESTcon GROUP S.A.www.investcongroup.pl

M&M Doradztwo Gospodarcze Sp. z o.o.www.mm-dg.pl

DFP Doradztwo Finansowe Sp. z o.o.www.dfp.pl

CC Group Sp. z o.o.www.ccgroup.com.pl

Navigator Capital S.A.www.navigatorcapital.pl

ProfesCapital Sp. z o.o.www.profescapital.pl

Capital One Advisers Sp. z o.o.www.capitalone.pl

150

WSE Main List

WSE IPO Partners – Primary Market Leaders

The programme is open to investment companies, legal firms, auditors and finan-cial consultants operating on the primary market. Under the programme the WSE

authorises qualified Partners to use the pro-motional logo of ‘WSE IPO Partner – Primary Market Leader.’ In order to qualify, the can-didate company should have executed at least five IPOs totalling at least PLN 300 mil-lion (this includes new issues by WSE listed companies which had been floated with the support of the candidate company) in each two-year period under consideration. The Primary Market Leader title extends to the IPO market as well as the subsequent public offers made by listed companies.

Statutory Auditors

BDO Sp. z o.o.www.bdo.pl

Grant Thornton Frąckowiak Sp. z o.o. S.k.www.grantthornton.pl

Ernst & Young Audit Sp. z o.o.www.ey.com/pl

PKF Consult Sp. z o.o.www.pkfconsult.pl

Kancelaria Porad Finansowo-Księgowychdr Piotr Rojek Sp. z o.o.www.kpfk.pl

PricewaterhouseCoopers Sp. z o.o.www.pwc.com/pl

Legal Advisors

Kancelaria Radców Prawnych Oleś & Rodzynk-iewicz Spółka Komandytowawww.oles.com.pl

Kancelaria prof. Marek Wierzbowski i Partnerzy- Adwokaci i Radcowie Prawniwww.wierzbowski.com

Weil, Gotshal & Manges - Paweł Rymarz SpółkaKomandytowawww.weil.com

Brokerage Houses

Dom Maklerski PKO Banku Polskiego S.A.www.bdm.pkobp.pl

UniCredit CA IB Polska SAwww.ca-ib.pl

Millennium Dom Maklerski S.A.www.millenniumdm.pl

Dom Maklerski IDM S.A.www.idmsa.pl

DM BZ WBK SAwww.dmbzwbk.pl

IPOPEMA Securitieswww.ipopema.pl

List of WSE IPO Partners – Primary Market Leaders (as of February 2013)

151

Fact Book 2013

WSE IPO Partner Programme

The Warsaw Stock Exchange has been ac-tively pursuing the concept of turning War-saw into a trading hub for equities and debt securities issued by foreign companies, particularly those from Central and Eastern Europe. These efforts have not only led to foreign IPOs on the WSE but also stimulat-ed increasing interest in the Polish market among foreign entities engaging in broker-age operations (pursuant to the legislation of their country of domicile) or in other fi-nancial and investment-related operations. Their role in providing sales and promotion-al support for the WSE is now concentrated in the new programme, launched in mid-No-vember 2006 under the name of WSE IPO Partner.

The programme provides tangible benefits for both the WSE and its IPO Partners. The WSE obtains active support from local play-ers in foreign markets who promote the Warsaw Stock Exchange and select compa-nies interested in attracting capital through the WSE trading floor. A company which will be invited to sign a Partner Agreement with the WSE may use the title of WSE IPO Partner and will receive a relevant support-ing certificate. Under the agreement, IPO Partners will receive a special logo which

can be used in efforts to attract issuers; they will also be allowed to include information on their WSE-authorised partner status in letters and documents. The Warsaw Stock Exchange supports its Partners by provid-ing necessary consultations related to im-plementation of the Partner Agreement, by ensuring availability of its promotional publications and offering an opportunity to participate in events organized by the WSE to attract companies interested in having their financial instruments quoted on WSE-operated markets.

The following companies joined the WSE IPO Partner Programme in 2012:

Asters Law Firm LLC (Ukraine)Group of Companies Pro Capital LL,

(Ukraine)Foyil Securities New Europe LLC

(Ukraine)UAB FMI Orion Securities (Lithuania)Euro Partners (Israel)

At the end of January 2012, a total of 28 or-ganisations from 13 countries participated in the WSE IPO Partner Programme.

152

WSE Main List

Altera Finance (Ukraine)www.altera-finance.com

Sokrat Capital (Ukraine)www.sokrat.kiev.ua

Financial and Analytical GroupPro-Consulting Ltd. (Ukraine)www.pro-consulting.com.ua

Millennium Capital LLC (Ukraine)www.mcapital.com.ua

Uniter Investment Company CJSC (Belarus)www.uniter.by

Concorde Capital LLC (Ukraine)www.concorde.com.ua

INFIN Financial Services JSC (Turkey)www.infin.com.tr

Priorbank JSC (Ukraine)www.priorbank.by

Cyrrus a.s. (Czech Republic)www.cyrrus.cz

Renaissance Securities LTD (Cyprus)www.rencap.com

Wedbush Morgan Securities Inc. (USA)www.wedbush.com

Guardian Trust Securities SA (Greece)www.guardiantrust.gr

Silkroutefinancial (UK)www.silroutefinancial.com

Belinvestbank (Belarus)www.belinvestbank.by

InterCapital Securities Ltd (Croatia)www.intercapital.hr

Beiten Burkhardt RechtsanwaltsgesellschaftmbH (Germany)www.bblow.com

CJSC Investment Financial CompanyArt-Capital (Ukraine)www.company.art-capital.com.ua

AB Finansta Corporate Finance (Lithuania)www.finansta.it

Investment Capital Ukraine LLC (Ukraine)www.icu.ua

Joint Stock Company SavingsBank Belarusbank (Belarus)www.belarusbank.by

Balkan Advisory Company IP EAD (Bulgaria)www.bac.bg

Kreston GCG (Ukraine)www.kreston-gcg.com

Marfin CLR (Financial Services) Ltd (Cyprus)www.marfinbank.com.cy

Asters Law Firm LLC (Ukraine)www.asterslaw.com

Group of Companies Pro Capital LLC (Ukraine)www.procapital.com.ua

Euro Partners Ltd. (Israel)www.europartners.co.il

UAB FMI Orion Securities (Lithuania)www.orion.lt

Foyil Securities New Europe LLC (Ukraine)www.foyil.com

List of WSE IPO PARTNER Companies(as of February 2013)

153

Fact Book 2013

A WSE member is an entity which has been granted permission to operate on the WSE and, in particular, to conduct transactions. The authority to grant such permission lies with the Management Board of the WSE.

Under the current rules and regulations, the following entities may become WSE mem-bers:

an investment firm, as defined in Article 3(33) of the Act on Trading in Financial Instruments, which conducts transac-tions on its own account or on the ac-count of its clients;

a foreign investment organisation which does not conduct brokerage activities within the Republic of Poland;

any other entity which is a participant of the National Depository for Securities (NDS) and conducts transactions only on its own account;

any other entity which is not a partici-pant of the National Depository for Se-curities and which conducts transac-tions only on its own account, provided that it indicates a NDS participant which has committed itself to meeting the transaction clearing and settlement ob-ligations.

All categories of entities may conduct trad-ing in all financial instruments. The Manage-ment Board of the Warsaw Stock Exchange defines the detailed scope of operations for WSE members.

At the end of 2012, a total of 60 organisa-tions held the status of a WSE member, out of which 31 were domiciled in Poland and 29 were so-called remote members, operat-ing directly from their offices in other coun-tries (located in Austria, Bulgaria, Czech Re-public, Cyprus, France, Germany, Hungary, Lithuania, the Netherlands, Romania, Swe-den, and the United Kingdom).

In 2012, the following two overseas or-ganisations and one domestic entity were granted WSE membership and authorised to perform operations on the WSE: Dom Inwestycyjny XELION Sp. z o.o. Wedbush Europe Ltd. ING Bank N.V.

WSE Members

154

WSE Main List

Domestic WSE Members (as of 31 December 2012)

1. ALIOR BANK S.A. 2. BANCO ESPIRITO SANTO DE INVESTIMEN-

TO S.A. ODDZIAŁ W POLSCE3. BANK BPH S.A. 4. BANK DNB NORD POLSKA S.A.5. BANK GOSPODARKI ŻYWNOŚCIOWEJ S.A 6. BANK POLSKA KASA OPIEKI S.A.7. CENTRALNY DOM MAKLERSKI PEKAO S.A. 8. COPERNICUS SECURITIES S.A.9. DB SECURITIES S.A.10. DOM INWESTYCYJNY BRE BANKU S.A.11. DOM MAKLERSKI BZ WBK S.A.12. DOM MAKLERSKI IDM S.A. 13. DOM MAKLERSKI AMERBROKERS S.A.14. DOM MAKLERSKI BANKU BPS S.A. 15. DOM MAKLERSKI BANKU HANDLOWEGO

S.A.16. DOM MAKLERSKI BANKU OCHRONY

ŚRODOWISKA S.A.17. DOM MAKLERSKI BDM S.A.18. ERSTE SECURITIES POLSKA S.A.19. ING SECURITIES S.A.20. IPOPEMA SECURITIES S.A. 21. KBC SECURITIES N.V. (SPÓŁKA AKCYJNA)

ODDZIAŁ W POLSCE22. MILLENNIUM DOM MAKLERSKI S.A. 23. NOBLE SECURITIES SA 24. OPERA DOM MAKLERSKI SP. Z O.O.25. POWSZECHNA KASA OSZCZĘDNOŚCI

BANK POLSKI S.A. 26. TRIGON DOM MAKLERSKI S.A.27. UNICREDIT CAIB POLAND S.A.28. X-TRADE BROKERS DOM MAKLERSKI SA 29. RAIFFEISEN BANK POLSKA S.A.30. NWAI DOM MAKLERSKI S.A.31. DOM INWESTYCYJNY XELION SP. Z O.O.

Remote WSE Members (end of 2012)

1. CONCORDE SECURITIES LTD.2. CREDIT SUISSE SECURITIES (EUROPE) LTD.3. CYRRUS AS 4. GOLDMAN SACHS INTERNATIONAL 5. HSBC BANK PLC6. IP INTERCAPITAL MARKETS AD7. J.P. MORGAN SECURITIES LTD. 8. LIQUIDNET EUROPE LIMITED 9. MERRILL LYNCH INTERNATIONAL 10. MORGAN STANLEY & CO. INTERNATIONAL

PLC11. NEONET SECURITIES AB12. NOMURA INTERNATIONAL PLC13. RAIFFEISEN CENTROBANK AG14. RENAISSANCE SECURITIES (CYPRUS) LIM-

ITED15. SOCIETE GENERALE SA16. UBS LIMITED 17. UNICREDIT BANK AG 18. WOOD & COMPANY FINANCIAL SERVICES,

AS19. DRAGON CAPITAL (CYPRUS) LIMITED20. EQUILOR INVESTMENT LTD21. UAB FMI ORION SECURITIES22. VTB CAPITAL PLC23. BNP PARIBAS ARBITRAGE SNC24. CARPATICA INVEST SA25. FIO BANKA AS26. SIB (CYPRUS) LIMITED27. WEDBUSH EUROPE LTD28. ING BANK N.V.29. BT SECURITIES S.A.

155

Fact Book 2013

Exchange Brokers and Supervising Brokers

WSE members are obligated to appoint indi-viduals (exchange brokers) who are author-ised, on their behalf, to transfer orders to the WSE, modify or cancel orders. WSE mem-bers are also required to appoint individuals who supervise the work of exchange bro-kers (supervising brokers) and notify such appointments to the WSE.

Market Makers The role of a market maker (market animator) is to support liquidity of financial instruments and to do so as effectively as possible. There are two categories of market makers operat-ing on the Warsaw floor: WSE market makers and issuers’ market makers. A WSE market maker is a WSE member or another organi-sation which has signed a contract with the Warsaw Stock Exchange whereby it under-takes to support liquidity of a financial instru-ment by undertaking activities on its own account. The WSE market maker performs its obligations in compliance with the WSE Rules and contractual provisions. The market making contract specifies, in particular, terms and conditions of market making to be met by the WSE market maker with regard to the financial instrument concerned. A WSE mar-ket maker who has no WSE membership op-erates through a WSE member authorised to act on a client’s account. The Warsaw Stock Exchange may sign market making contracts with multiple organisations for the same fi-nancial instrument. WSE market makers may perform their responsibilities for financial in-struments traded both within the continuous system and the single-price auction system.

At the end of 2012, a total of 23 WSE mem-bers (18 domestic and 5 remote members) were acting as WSE market makers on the Main Market.

List of WSE Market Makers (as of 31 December 2012)

COPERNICUS SECURITIES S.A. DOM INWESTYCYJNY BRE BANKU S.A.

DOM MAKLERSKI BDM S.A.DOM MAKLERSKI BANKU HANDLOWEGO S.A.DOM MAKLERSKI BANKU OCHRONY ŚRODOWISKA S.A.DOM MAKLERSKI BZ WBK S.A.DOM MAKLERSKI IDM S.A.IPOPEMA SECURITIES S.A.KBC SECURITIES N.V. (SPÓŁKA AKCYJNA) ODDZIAŁ W POLSCEMILLENNIUM DOM MAKLERSKI S.A.NOBLE SECURITIES S.A.POWSZECHNA KASA OSZCZĘDNOŚCI BANK POLSKI S.A. UNICREDIT CAIB POLAND S.A.NWAI DOM MAKLERSKI S.A.TRIGON DOM MAKLERSKI S.A.DOM MAKLERSKI BANKU BPS S.A.ALIOR BANK S.A.BRE BANK S.A.RAIFFEISEN CENTROBANK AGSOCIETE GENERALE SAUNICREDIT BANK AGWOOD & COMPANY FINANCIAL SERVICES, ASCREDIT SUISSE SECURITIES (EUROPE) LIMITED

An issuer’s market maker is a WSE member or other financial institution which, under a contract with an issuer, undertakes to sup-port liquidity of a specific financial instru-ment. An issuer’s market maker who has no WSE membership operates through a WSE member authorised to act on a client’s ac-count. When low liquidity in trading of some instruments is observed, issuers of such instruments may join the Liquidity Support Programme. Details of the Programme are given in the ‘Companies’ section (page 25). One of the requirements for issuers who join the Programme is to sign a market making contract with an organisation that would act as the issuer’s market maker. The terms and conditions of such contracts should be at least as favourable as the market making terms defined for WSE market makers.

A total of 22 WSE members acted as issuers’ market makers on the WSE’s main floor at the end of 2012 (19 of them domestic and 3 remote members).

156

WSE Main List

List of Issuer’s Market Makers (as of 31 December 2012)

BANK DNB NORD S.A.COPERNICUS SECURITIES S.A.DOM INWESTYCYJNY BRE BANKU S.A.DOM MAKLERSKI BDM S.A.DOM MAKLERSKI AMERBROKERS S.A.DOM MAKLERSKI BANKU BPS S.A.DOM MAKLERSKI BANKU HANDLOWEGO S.A.DOM MAKLERSKI BANKU OCHRONY ŚRODOWISKA S.A.DOM MAKLERSKI BZ WBK S.A.DOM MAKLERSKI IDM S.A.KBC SECURITIES N.V. (SPÓŁKA AKCYJNA) ODDZIAŁ W POLSCEPOWSZECHNA KASA OSZCZĘDNOŚCI BANK POLSKI S.A. MILLENNIUM DOM MAKLERSKI S.A.NOBLE SECURITIES S.A.OPERA DOM MAKLERSKI SP. Z O.O.TRIGON DOM MAKLERSKI S.A.UNICREDIT CAIB POLAND S.A.NWAI DOM MAKLERSKI S.A.ALIOR BANK S.A.RAIFFEISEN CENTROBANK AGWOOD & COMPANY FINANCIAL SERVICES, ASUAB FMI ORION SECURITIES

Starting from February 2012, the WSE has been running the SuperAnimator TOP7 pro-gramme aimed to boost the liquidity of com-panies which ranked one to seven in the WIG20 ranking. The programme is a follow-up of the SuperAnimator TOP7 contest which had three editions in 2010-2011.

157

Fact Book 2013

Members’ share in trading in 2012 – Cash market

No. WSE Member Shares and rights to shares (PDA) BondsOrder-book trades Block trades Order-book trades Block trades

(PLN million) (%)(PLN million) (%) (PLN million) (%) (PLN million) (%)

1 DM BH 45 833.84 12.22 1 542.45 5.03 421.83 20.65 1.26 2.91

2 CSSELTD 39 230.18 10.46 1 608.37 5.25 --- --- --- ---

3 IPOPEMA 31 263.42 8.33 5 038.65 16.44 23.30 1.14 --- ---

4 PKO BP 29 188.32 7.78 6 098.34 19.90 577.05 28.25 27.24 62.90

5 DM BZ WBK 27 543.53 7.34 943.45 3.08 358.27 17.54 --- ---

6 Unicredit Group 24 187.74 6.45 2 291.22 7.47 202.75 9.93 0.00 0.00

UNICRCAIB 11 003.43 2.93 1 958.19 6.39 181.32 8.88 --- ---

CDM PEKAO 10 206.20 2.72 328.74 1.07 14.30 0.70 --- ---

DM PEKAO 2 879.35 0.77 4.29 0.01 --- --- --- ---

UNICREDIT BANK AG 98.76 0.03 --- --- --- --- --- ---

7 ING SECUR 21 697.30 5.78 1 442.70 4.71 73.07 3.58 --- ---

8 DI BRE Banku 19 246.89 5.13 728.53 2.38 41.87 2.05 0.23 0.53

9 KBC SECURITIES 15 421.90 4.11 74.44 0.24 28.40 1.39 6.77 15.63

10 WOOD 14 514.36 3.87 744.28 2.43 0.40 0.02 --- ---

11 DB SECUR. 12 994.39 3.46 685.53 2.24 33.48 1.64 --- ---

12 BESI 11 933.94 3.18 106.71 0.35 --- --- --- ---

13 DM BOŚ SA 7 723.82 2.06 105.86 0.35 6.60 0.32 6.47 14.94

14 GOLDMAN 7 101.25 1.89 2 153.31 7.03 --- --- --- ---

15 ERSTE 6 896.56 1.84 4 868.43 15.88 62.74 3.07 --- ---

16 UBS 6 395.47 1.70 1.85 0.01 --- --- --- ---

17 MILL DM 4 143.50 1.10 127.95 0.42 150.76 7.38 1.04 2.40

18 JPMORGAN 3 771.98 1.01 --- --- --- --- --- ---

19 ALIOR BM 3 735.05 1.00 175.42 0.57 5.77 0.28 0.10 0.23

20 SOCIETE 3 575.03 0.95 --- --- --- --- --- ---

21 NEONET 3 377.48 0.90 --- --- --- --- --- ---

22 DM BPS 3 124.72 0.83 582.05 1.90 5.95 0.29 --- ---

23 MERRILL 3 063.98 0.82 --- --- --- --- --- ---

24 TRIGON 2 894.92 0.77 181.82 0.59 10.16 0.50 --- ---

25 HSBC 2 868.69 0.76 187.87 0.61 --- --- --- ---

26 BDM SA 2 668.62 0.71 18.31 0.06 10.74 0.53 0.21 0.48

27 RAIFFEISEN 2 618.41 0.70 --- --- --- --- --- ---

28 IDMSA 2 597.87 0.69 579.31 1.89 1.68 0.08 --- ---

29 NOMURA 2 139.44 0.57 --- --- --- --- --- ---

158

WSE Main List

No. WSE Member Shares and rights to shares (PDA) BondsOrder-book trades Block trades Order-book trades Block trades

(PLN million) (%)(PLN million) (%) (PLN million) (%) (PLN million) (%)

30 NOBLE 1 992.83 0.53 54.21 0.18 0.48 0.02 --- ---

31 BNP PARIBAS 1 967.93 0.52 --- --- --- --- --- ---

32 MORGAN 1 638.90 0.44 --- --- --- --- --- ---

33 XTB 1 610.83 0.43 --- --- 0.34 0.02 --- ---

34 BPH 1 393.73 0.37 3.89 0.01 0.98 0.05 --- ---

35 OPERA 900.77 0.24 1.99 0.01 --- --- --- ---

36 BGŻ SA 853.55 0.23 0.87 --- 10.02 0.49 --- ---

37 AMERBROKERS 753.82 0.20 7.08 0.02 7.46 0.37 --- ---

38 COPERNICUS 494.54 0.13 11.84 0.04 --- --- --- ---

39 DNB NORD 399.92 0.11 32.39 0.11 8.21 0.40 --- ---

40 CONCORDE 355.54 0.09 --- --- --- --- --- ---

41 EQUILOR 336.39 0.09 --- --- --- --- --- ---

42 VTB CAPITAL 266.58 0.07 --- --- --- --- --- ---

43 RAIFFEISEN BANK POLSKA 211.90 0.06 0.30 --- 0.04 --- --- ---

44 DRAGON 124.64 0.03 7.18 0.02 --- --- --- ---

45 XELION 25.20 0.01 --- --- --- --- --- ---

46 FIO Banka 9.96 --- --- --- --- --- --- ---

47 ORION 5.62 --- --- --- --- --- --- ---

48 SIB (CYPRUS) 4.94 --- --- --- --- --- --- ---

49 CYRRUS 3.86 --- --- --- --- --- --- ---

50 BT SECURITIES SA 3.09 --- --- --- --- --- --- ---

51 NWAI DM 1.31 --- --- --- --- --- --- ---

52 FIO 1.00 --- --- --- --- --- --- ---

53 RENAISSANCE 0.45 --- --- --- --- --- --- ---

54 INTERCAPITAL 0.22 --- --- --- --- --- --- ---

55 CARPATICA 0.11 --- --- --- --- --- --- ---

56 LIQUIDNET --- --- 243.36 0.79 --- --- --- ---

Total 375 110.24 100.00 30 650.01 100.00 2 042.36 100.00 43.31 100.00

Members’ share in trading in 2012 – Cash market (contd.)

159

Fact Book 2013

No. WSE Member Futures contracts OptionsOrder-book trades Block trades Order-book trades Block trades

(contracts) (%) (contracts) (%) (options) (%) (options) (%)

1 DI BRE Banku 3 195 848 15.65 96 926 12.75 222 733 16.38 17 200 24.36

2 DM BOŚ SA 3 019 603 14.78 --- --- 296 786 21.82 --- ---

3 DM BZ WBK 2 425 236 11.87 11 628 1.53 245 426 18.04 --- ---

4 Unicredit Group 1 773 785 8.69 187 354 24.64 121 013 8.90 9 300 13.17

CDM PEKAO 869 133 4.26 --- --- 15 445 1.14 --- ---

UNICREDIT BANK AG 489 216 2.40 187 354 24.64 84 745 6.23 9 300 13.17

DM PEKAO 294 683 1.44 --- --- 20 823 1.53 --- ---

UNICRCAIB 120 753 0.59 --- --- --- --- --- ---

5 NOBLE 1 595 618 7.81 --- --- 7 918 0.58 --- ---

6 ERSTE 1 421 893 6.96 289 668 38.09 1 715 0.13 15 600 22.10

7 KBC SECURITIES 1 316 164 6.44 22 800 3.00 278 0.02 --- ---

8 PKO BP 772 896 3.78 26 352 3.47 128 004 9.41 16 300 23.09

9 ING SECUR 695 365 3.40 --- --- 9 636 0.71 --- ---

10 CSSELTD 621 738 3.04 --- --- --- --- --- ---

11 ALIOR BM 561 947 2.75 --- --- 23 730 1.74 --- ---

12 BDM SA 449 126 2.20 --- --- 5 351 0.39 --- ---

13 DB SECUR. 318 884 1.56 41 388 5.44 9 478 0.70 3 300 4.67

14 DM BH 314 412 1.54 49 320 6.49 3 183 0.23 8 300 11.76

15 IDMSA 248 200 1.22 --- --- 52 904 3.89 --- ---

16 BPH 205 795 1.01 --- --- 8 052 0.59 --- ---

17 DM BPS 197 836 0.97 --- --- 4 877 0.36 --- ---

18 IPOPEMA 186 152 0.91 34 960 4.60 55 --- --- ---

19 MILL DM 166 524 0.82 --- --- 3 200 0.24 --- ---

20 TRIGON 160 909 0.79 --- --- 17 878 1.31 --- ---

21 AMERBROKERS 159 336 0.78 --- --- 1 070 0.08 --- ---

22 SOCIETE 141 515 0.69 --- --- 3 250 0.24 --- ---

23 XTB 121 569 0.60 --- --- 140 361 10.32 --- ---

24 BGŻ SA 98 770 0.48 --- --- 3 082 0.23 --- ---

25 OPERA 78 044 0.38 --- --- 3 941 0.29 600 0.85

26 RAIFFEISEN 62 740 0.31 --- --- 43 952 3.23 --- ---

27 DNB NORD 62 487 0.31 --- --- 1 325 0.10 --- ---

28 RAIFFEISEN BANK POLSKA 21 533 0.11 --- --- 696 0.05 --- ---

Members’ share in trading in 2012 – Derivatives market

160

WSE Main List

No. WSE Member Futures contracts OptionsOrder-book trades Block trades Order-book trades Block trades

(contracts) (%) (contracts) (%) (options) (%) (options) (%)

29 XELION 18 598 0.09 --- --- --- --- --- ---

30 BESI 8 159 0.04 --- --- --- --- --- ---

31 WOOD 3 628 0.02 --- --- 234 0.02 --- ---

32 CONCORDE --- --- --- --- --- --- --- ---

33 JPMORGAN --- --- --- --- --- --- --- ---

34 MORGAN --- --- --- --- --- --- --- ---

35 HSBC --- --- --- --- --- --- --- ---

36 CYRRUS --- --- --- --- --- --- --- ---

37 NEONET --- --- --- --- --- --- --- ---

38 FIO --- --- --- --- --- --- --- ---

39 GOLDMAN --- --- --- --- --- --- --- ---

40 MERRILL --- --- --- --- --- --- --- ---

41 LIQUIDNET --- --- --- --- --- --- --- ---

42 UBS --- --- --- --- --- --- --- ---

43 RENAISSANCE --- --- --- --- --- --- --- ---

44 NOMURA --- --- --- --- --- --- --- ---

45 INTERCAPITAL --- --- --- --- --- --- --- ---

46 DRAGON --- --- --- --- --- --- --- ---

47 EQUILOR --- --- --- --- --- --- --- ---

48 BNP PARIBAS --- --- --- --- --- --- --- ---

49 ORION --- --- --- --- --- --- --- ---

50 BT SECURITIES SA --- --- --- --- --- --- --- ---

51 VTB CAPITAL --- --- --- --- --- --- --- ---

52 SIB (CYPRUS) --- --- --- --- --- --- --- ---

53 FIO Banka --- --- --- --- --- --- --- ---

54 CARPATICA --- --- --- --- --- --- --- ---

55 NWAI DM --- --- --- --- --- --- --- ---

56 COPERNICUS --- --- --- --- --- --- --- ---

Total 20 424 310 100.00 760 396 100.00 1 360 128 100.00 70 600 100.00

Members’ share in trading in 2012 – Derivatives market (contd.)

161

Fact Book 2013

2012 was the last complete year of the op-eration of WARSET, the transaction system used by the WSE since 2000. On 15 April 2013 a new transaction system, UTP (Uni-versal Trading Platform), will be launched. The key features of WARSET described be-

low will remain valid also for the UTP. The key functional differences between WAR-SET and UTP, relevant for investors, are de-scribed on pages 171–173.

Financial instruments and quotation systems

Organisation of Trading

Instrumenty finansowe i systemy notowań

BONDS

INVESTMENT CERTIFICATES

ETFs

DERIVATIVES

WARRANTS

STRUCTUREDPRODUCTS

SINGLE-PRICESYSTEM

CONTINUOUSTRADING

BLOCKTRADES

SHARES (RIGHTS TO SHARES)

PRE-EMPTIVE RIGHTS

162

WSE Main List

Rules of Trading under WARSET

Transactions

Before executing a transaction on the War-saw Stock Exchange, an investor must have an investment account with an investment firm (e.g. a brokerage house) which is a WSE member. A member firm that has re-ceived an order to execute a transaction on the WSE is responsible for the accurate ful-filment of such an order.

Transactions on the WSE can be executed in one of the following quotation systems: continuous trading, single-price system with two auctions

per day.Additionally, for large packets of financial instruments block trades are allowed both within and outside the trading session.

OrdersAs a rule, investors place their orders via the Internet or by phone, by contacting the brokerage house branch which runs their in-vestment account. Orders are then forward-ed to the member firm’s headquarters and then, via an IT network, to a broker. The bro-ker enters the orders into the WSE comput-er system. The role of the Internet as an or-der-placing channel has gained importance over time. Since member firms’ IT systems are integrated with the WSE system, online order placement is fast and secure.

When placing an order, the investor must specify: the type of order (buy/sell); the price limit, or a type of order without

a price limit; the order validity date; the name of the security or financial

instrument to be bought or sold; the number of securities (volume); additional requirements for execution of

the order.

Types of orders

Multiple order types may be placed under the WARSET system to allow investors to apply various investment strategies tailored to their goals and needs in specific situa-tions.There are two main types of orders used in WSE trading: orders with a price limit, orders without a stated price limit.

Orders with a price limit (limit orders)Here, the investor precisely defines a buy or sell price limit for the instrument concerned. In the case of a buy order, this would be the maximum price which the investor agrees to pay. In the case of a sell order, it is the price below which the investor is not willing to sell the instruments in question.

It should be remembered that: limits for equities, pre-emptive rights,

rights to shares, investment certificates, index participation units and warrants are stated in PLN;

limits for bonds are stated as a percent-age of nominal value;

limits for futures contracts are stated in points (index futures) or in PLN (currency and equity futures);

limits for index options are stated in points.

Orders without a price limitOrders without a limit are intended for inves-tors who do not want to wait long for their order to be executed and when completion of a transaction is more important than the price obtained. Orders without a price limit (respective Polish abbreviations: PKC, PCR and PCRO) cannot be placed for options, pre-emptive rights or warrants. In the case of other instruments orders without a limit are not accepted for the first session when the instrument is quoted, except new series

163

Fact Book 2013

of index futures, currency futures and equity futures.

Market orders (MARKET; Polish abbrevia-tion: PCR) can be placed only during con-tinuous trading (any phase except market balancing), and are executed at the price of the first best corresponding order placed earlier. The unfilled portion of the order be-comes an order with a limit price equal to that at which the last transaction was con-cluded.

Market-on-opening orders (OPENING; Pol-ish abbreviation: PCRO) are placed during the phase in which orders are accepted for the opening and closing in the continuous trading system and the single-price auction system, as well as during market balancing. They are executed, respectively, at the opening price, closing price, single price, or the price deter-mined during the balancing phase.

Must-be-filled orders (MBF; Polish abbre-viation: PKC) can be placed at all stages of continuous trading and the single-price auc-tion, except the intervention phase and post-auction trading. When placed during the order collection period for the opening, close, sin-gle-price auction and market balancing, these orders are executed respectively at the open-ing price, closing price, single price, and the price determined during the balancing phase.

Additional requirements for order execu-tionA minimum size order (MIN; Polish abbrevi-ation: Wmin) specifies a minimum number of instruments which the investor requires to be traded if the order is to be executed.

Hidden orders (HID; Polish abbreviation: WUJ) are executed in stages. The investor specifies the size of successive portions to be executed, i.e. the number of securities to be revealed at a time (minimum 100 instru-ments).

A stop order (STOP; Polish abbreviation: LimAkt) is not displayed immediately after being entered into the system, but is dis-closed only if the theoretical opening price or last price in continuous trading reaches the level specified by the investor. In addi-

tion to an activation limit, these orders must also contain a price limit for execution or a must-be-filled requirement.

Order validity datesThe validity of brokers’ orders may be set on a specific date, or may be marked in one of the following ways: as a day order, good-till-cancelled (GTC), fill-and-kill (FAK) or fill-or-kill (FOK).

An order marked as GTC (DOM in Polish) is valid indefinitely. A FAK order (WiN in Pol-ish) is valid until the time of the first transac-tion (or first transactions, if executed within multiple transactions simultaneously). A FAK is executed immediately after being placed and may be executed in part. The un-fulfilled portion of the order then becomes void.

A FOK order (WuA in Polish) is valid until the time of the first transaction (or first trans-actions, if executed within multiple transac-tions simultaneously). A FOK is executed immediately after being placed but must be executed in full, otherwise it becomes void.

Continuous tradingBefore the session begins, orders are accept-ed in what is known as the pre-opening phase when transactions are not concluded but the theoretical opening price is determined. Af-ter the completion of this phase, the opening price is determined (an auction procedure) and orders entered in the pre-opening phase are executed. This is when continuous quo-tations begin, and buy and sell orders may be placed. In continuous trading, buyers and sellers place orders which are then entered into the system and executed on an ongo-ing basis (provided that their prices match) or are kept in the order book to await placement of a corresponding order with an appropriate price to enable a transaction. There are two priorities applicable to execution of orders: price, order placement time.OznaThis means that when two orders with an identical price are awaiting execution, the order entered into the system earlier will be the first to be executed. To avoid ran-

164

WSE Main List

dom price movements during the final part of a continuous trading session, the session ends with a closing auction. After the clos-ing price has been announced, a 5-minute post-auction phase follows. During this phase, all transactions are executed at the respective closing prices.The most liquid stocks, all bond series, in-vestment certificates, futures, options, in-dex participation units, ETFs and warrants are traded in the continuous trading sys-tem. If stocks are assigned to continuous trading, corresponding rights to shares and pre-emptive rights are also traded in this system. Regardless of the quotation system, a single instrument is always taken as the transaction unit.

Single-price auction system (electronic call auction)Quotations in the single-price system are based on a so-called auction procedure, i.e. the price of a security is determined on the grounds of orders entered before the open-ing. The first phase of the session is called pre-opening. During this phase, buy and sell orders are entered into the system, a theo-retical opening price for the security is cal-culated and published, but no transactions are executed.

The single price is determined on the basis of brokers’ orders placed with and without a price limit. The moment the single price is published, it becomes the price at which transactions are concluded.

To determine the single price, the following rules are applied in the system: to maximise trading volume; to minimise the difference between the

respective numbers of instruments in buy and sell orders that are feasible at a particular price;

to minimise the difference between the price being determined and the refer-ence price.

Once the single price is published, addi-tional buy and sell orders are placed, with limits equal to the designated single price. This phase is referred to as ‘post-auction trading’.In the case of the single-price system with two auctions, the prices are determined and transactions are made twice daily.

165

Fact Book 2013

Trading session schedule (24h format)

Continuous trading – cash market

Continuous trading – derivatives market

Pre-opening (orders submitted for opening)8:00

9:00

Pre-closing (orders submitted for closing)

17:20

17:30

Post-auction trading

Opening (determining the opening price)

Closing (determining the closing price)

17:35

Continuous trading phase

Pre-opening (orders submitted for opening)8:00

8:30

Pre-closing (orders submitted for closing)

17:20

17:30


Opening (determining the opening price)

Closing (determining the closing price)

17:35


166

WSE Main List

Single-price auction system with two auctions

Pre-opening (orders submitted for opening)

8:00

Pre-opening (orders submitted for opening)


Single-price auction11:00

11:30

15:00

15:30

17:35


Single-price auction

Pre-opening (orders submitted for next day)

167

Fact Book 2013

Harmonogram sesji giełdowej (tymczasowy)

Continuous trading – cash market

Continuous trading – derivatives market

Pre-opening phase (opening call)8.30

9.00

Pre-closing phase (closing call)

16.50

17.00


Opening (opening price is determined)

Closing (closing price is determined)

17.05


Pre-opening phase (opening call)8.30

8.45

Pre-closing phase (closing call)

16.50

17.00



Closing (closing price is determined)

17.05


Starting from 15 April 2013, the following abridged session schedule has been in force. This schedule is temporary and will apply until the end of 2013.

168

WSE Main List

Price variation limitsIn each quotation system there are limits on price variations in relation to the reference price. In the continuous trading system, the reference price for a transaction price and the closing price is defined as the opening price set at opening or during the balanc-ing phase at opening auction. If there is no opening price, the most recent closing price is taken as a reference price.In the single-price auction system, the ref-erence price is defined as the most recent single price determined for the specific in-strument.

1) Price ranges determined each time by the WSE Management Board, on or before the day preceding the first day of trading.

Continuous trading – dynamic price ranges

WIG20 shares ±3.5%

mWIG40 shares ±4.5%

Other shares ±6.5%

Bonds ±2 percentage points

Investment certificates ±6.5%

Structured products 1)

WIG20 futures ±25 points

mWIG40 futures ±30 points

Equity futures ±3.5%

Bond futures ±0.4 percentage points

Currency futures ±PLN 4

Index and equity options half the value of static price ranges

Index participation units ±PLN 5

Single-price system with two auctions

Pre-opening phase (opening call)

8.30

Pre-opening phase (next opening call)


Opening (opening price is determined)11.00

11.30

15.00

15.30

17.05



Pre-opening phase (next opening call)

169

Fact Book 2013

Single-price system – static price ranges

Instrument Permissible price variation limit for auction

Shares, rights to shares ±10% relative to the reference price of the last auction (extendable to 21%)

Structured products ±3 percentage points relative to the reference price of the last auction

Pre-emptive rights ±100% relative to the reference price of the last auction (extendable)

Instrument Reference price (opening) Acceptable price variation limit for the opening

Acceptable price variation limit for the session, in case the opening price has been determined*

Shares Closing price ±10% relative to closing price

±10% relative to opening price

Index futures Daily settlement price ±5% relative to daily settle-ment price


Currency futures Daily settlement price ±3% relative to daily settle-ment price


Equity futures Daily settlement price ±5% relative to daily settle-ment price


Bonds Closing price ±3 percentage points relative to closing price

±3 percentage points relative to opening price

Structured products Closing price ±40% (or ±100 points) relative to closing price

±40% (or ±100 points) relative to opening price

Investment certificates Closing price ±10% relative to closing price


Rights to shares Closing price ±10% relative to closing price


Pre-emptive rights Closing price ±100% relative to closing price


Index participation units with offers on closing

Closing price ±5% relative to closing price

±5% relative to closing price

Index options Theoretical price 5% (in PLN) of the average from the last 20 closing prices for the underlying instrument from the last month relative to theoretical price

5% (in PLN) of the average from the last 20 closing prices for the underlying instrument (from the last month) relative to opening price

* If no opening price has been determined at opening, the acceptable price variation limit is determined in relation to the closing price (the daily settlement price, the theoretical price).

Continuous trading – static price ranges

170

WSE Main List

Transaction settlement and clearing

Exchange memberclient

Exchangemembers

Exchangemember

order

cashand

securitiesclearing order

order

order

Custodianclient

Custodian

order

Cashand

securitiesclearing

Warsaw StockExchange

transaction

preparation of contract notes

transfer ofclearing operations

copy ofcontract

notes

cashsettlement

statements ofdepository accounts

delivery of cashtransfer orders

calculation ofinitial cash

clearingposition

post tradesettlementinstructions

post tradesettlementinstructions

statements ofcash accounts

calculationof settlement

positions


clearingposition

delivery of cash

transfer orders Clearing correctionsdue to shortage

or financial resources

Final cashsettlement

Clearingbank

NDS participant'spayment bank

NDS participant

Client

Remotemember

Final securitiessettlement

Preparation of cash and securities

clearing

National Depositoryfor Securities (NDS)NDS_CCP


clearingposition

As at 31 December 2012Source: National Depository for Securities

171

Fact Book 2013

WARSET – system architecture

Block trades

Block trades are transactions involving large packets of financial instruments (including derivatives). These trades are most commonly made be-tween major investors who had previously agreed all transaction details (such as block size, price, and settlement date).

The WSE Rules lay down precise conditions for block trade execution, defining the mini-mum block value and the maximum differ-ence between the price in a block trade and the price of the specific instrument at a trad-ing session.

WARSET – system architecture

WAN

Exchange memberlocal installation

Satellite market datadistribution system

Polish FinancialSupervisionAuthority

Informationdistribution

Exchange membersLocal installation

Clearingand settlement


...

Investors

Institutions Individuals

Exchange membercomputer network

T A N D E M

National Depositoryfor Securities

Exchange membersRemote installation

172

WSE Main List

Launched on 15 April 2013, the Universal Trading Platform (UTP) will raise the technol-ogy standards at the WSE to a new height. In comparison with the previous system, the UTP is much faster and more efficient, and has a much higher capacity. In practice, this means that UTP can handle a much greater number of orders (20,000 orders per second versus slightly over 300 under the previous Warset system).

With the UTP, the Polish capital market will operate to the highest global standards, guaranteeing the organisation of trading that addresses the rising expectations of market participants and responds to global trends. By following the footsteps of mar-kets which are already using the UTP, such as New York, Paris, Lisbon or Amsterdam, the WSE is joining the network of cutting-edge global stock markets.

While UTP is a quantum leap in technology, it does not introduce revolutionary changes in the existing rules of trading. It offers a broader array of functionalities, new kinds and types of order validity and it also ena-bles trading in instruments in a new market segment, the market maker system (PL ab-breviation: SAR) dedicated to instruments where the market maker plays a key role (e.g. warrants and structured products).

With its new transaction system, the Polish market has opened up to new categories of investors, including major global invest-ment companies which apply algorithmic trading techniques. Under algorithmic trad-ing transactions are made through dedicat-ed systems which rely on various formulas. Overall, this functionality is designed for professional institutional investors but al-gorithms developed by brokerage houses will enable individual investors to apply this strategy as well. While algorithmic trading was possible previously, UTP will enable it

on a much greater scale. Investors who de-cide to get actively involved in algorithmic trading can expect to benefit from trading generated in this way, such as greater li-quidity, lower spreads, and, consequently, lower transaction costs.

Although the UTP does not introduce revo-lutionary changes in the existing trading rules, it nevertheless opens new opportuni-ties for investors, as shown in the table on the next page.

UTP – The new transaction system

173

Fact Book 2013

Warset UTP

Peg orders No Peg orders Peg orders:• The PEG order limit automatically traces the best

buy or sell order limit in the order book and assu-mes their limit(s), thus improving the chances for orders to be executed.

• When placing a PEG order, the investor may define an additional limit: - a maximum limit for buy orders, - a minimum limit for sell orders, which constrain transactions to those levels only.

Changes in existing order types

Must-be-filled orders (Polish abbreviation: PKC)• These orders must be executed in full.• They have the highest priority.• They can be placed at pre-opening, pre-closing

and during the continuous trading phase: at pre-opening, PKC orders are considered when determining the theoretical opening price.

- If a PKC order is not executed at the opening, it induces market balancing at the opening.

- If a PKC order is not executed during the conti-nuous trading phase, it induces market balancing during the session (this order is always entered in the order book).

- If a PKC order is not executed at the closing, the non-transactional price is announced or the price from the last transaction in continuous trading is taken as the closing price.

Must-be-filled orders (Polish abbreviation: PKC): • Such orders may be executed in part.• They have the same priority as PCR orders.• They can be placed at pre-opening, pre-closing

and during the continuous trading phase.• They are executed against the best available

matching order in the order book and may be executed during in a number of transactions at different prices; the orderer has no possibility to control the execution price.

• The portion of the order which has not been executed in auctions remains in the order book as a PKC.

• In the continuous trading phase, a PKC order may be placed even if there are no other orders in the order book.

Market price orders (Polish abbreviation: PCR) These orders are executed at the best order limit available in the order book.• Such orders may be placed only during the

continuous trading phase.• They capture the best matching offer.• The unfulfilled part of a PCR order remains in the or-

der book with a limit equal to the transaction price.

Market price orders (Polish abbreviation: PCR)• These orders replace the previous PCR and PCRO

orders and are executed according to new rules.• They can be placed at pre-opening, pre-closing

and during the continuous trading phase.• They have the same priority as PKC orders.• If at least one PCR order is in the order book at

the opening and there is no matching order, the instrument is suspended (a standard procedure).

• If no matching order is available in the order book when a PCR order is placed during the continuous trading phase, the order is rejected.

• PCR orders placed at the post-auction phase are also rejected.

Market-on-opening orders (Polish abbreviation: PCRO) Orders at the best price available at the opening.• Such orders may be placed at pre-opening,

pre-closing and during market balancing. They are considered when determining the theoretical opening price (TKO). They are fulfilled at the price determined at the opening/balancing.

• PCRO orders have a higher priority than orders with a limit equal to the opening/closing price.

• The unfulfilled part of a PCRO order is transferred to the next phase, its limit being equal to that of the last transaction

New order validity types

Valid for next auction (Polish abbre-viation: WNF)

None Valid for next auction (Polish abbreviation: WNF)• Such orders are accepted in the system during all

phases of the trading session but they are active only at the nearest auction (opening, closing or balancing phase for the instrument).

• The unfulfilled part of the order is removed imme-diately once the auction is completed.

• All WNF orders are automatically cancelled once the session is closed.

• The priority of WNF orders corresponds with the chronology of their inclusion into the transaction system.

Differences between WARSET and UTP

174

WSE Main List

Warset UTP

Valid at closing (Polish abbre-viation: WNZ)

None Valid at closing (Polish abbreviation: WNZ)• Such orders are accepted during each phase of

the trading session but are only considered during the nearest closing auction.

• The unfulfilled portion of the order is removed im-mediately once the closing auction is completed.

• All WNZ orders are automatically cancelled once the trading session is closed.

• The priority of WNZ orders corresponds with the chronology of their inclusion into the transaction system.

Valid until specified (Polish abbre-viation: WDC)

None Valid until specified (Polish abbreviation: WDC)• WDC orders remain in the order book until the mo-

ment specified by the orderer; the moment may be defined with a precision of up to one second.

• The expiry moment applies to the current trading day.

STOP order activation at pre-opening

The theoretical opening price (TKO) activates STOP orders. Active STOP orders are executed at the opening.

In the pre-opening phase, STOP orders are not con-sidered when determining the theoretical opening price and the theoretical opening volume, nor are they considered when executing transactions at the opening.

Handling of hidden orders (Polish abbreviation: WUJ) at pre-opening and pre-closing

The theoretical opening volume covers the entire WUJ volume.

The theoretical opening volume covers only the disclosed volume.

Post-auction trading rules

Transactions may be concluded in the post-auction phase only when a closing price was determined (continuous trading) or when an auction price was determined (single-price system) on the day in question.

Transactions in the post-auction phase may be concluded at the most recent known transaction price, both in the continuous trading system and in the single-price system.

Market Maker System (Polish abbre-viation: SAR)

No equivalent trading system under WARSET. Market Maker System (SAR)• The system is intended for trading in instruments

where the participation of a market maker is man-datory (e.g. structured instruments, warrants).

• An instrument may only have one market maker in the system.

• If there are no quotations from a market maker, the possibility to conclude transactions is suspended.

• No static or dynamic price corridors are applied (this role is fulfilled by marker maker’s buy/sell orders).

175

Fact Book 2013

Mass-scale access to WSE data is enabled primarily though the use of the Internet.

Commercial servicesServices delivered via data vendors The recipients of commercial stock market news services are professional data ven-dors, such as news agencies, as well as brokerage houses, virtual banks, Internet portals, software houses etc. Data vendors offer market information to their clients, domestic and foreign, including brokerage houses, banks, other financial market par-ticipants and individual investors.

All vendors may purchase, on equal terms, real-time data services offered by the WSE, including:Service A - Cash market - Offerings and transactionsService B - Derivatives - Offerings and transactionsService I - WSE indicesService C - Statistical informationService D - NewConnectService E - Debt instruments listed on the

WSE and BondSpot

The WSE charges a fixed annual fee from vendors. Firms connected directly to the WSE system pay a technical fee and a distri-bution fee, while the so-called sub-vendors, who receive stock market data through an-other vendor, pay only a distribution fee. For real-time market data (transferred within max. 15 minutes after it becomes available from the WSE), the Warsaw Stock Exchange also charges fees based on the number of end recipients (subscribers). Under the WSE vendor agreement, data provided in real-time may not be redistributed without the prior consent of the WSE unless delayed by at least 15 minutes (no fees are charged for delayed data and such data may be freely re-distributed, e.g. on publicly accessible web-

sites). The data vendors who have signed relevant agreements with the Warsaw Stock Exchange include renowned news agencies (Thomson Reuters, Bloomberg, Polish Press Agency, Interactive Data, SIX Telekurs), Pol-ish and international brokerage houses (DM BZWBK, DM BPH, CDM Pekao, ING Securi-ties, DM BOŚ, DI BRE, DM Millennium, BDM PKO BP), virtual banks (mBank, Multibank), major Polish web portals (general content sites such as Onet, WirtualnaPolska or Inte-ria, and specialized sites such as Bankier.pl and Parkiet.pl) and software houses (Statica).Mobile telephones are increasingly used by investors as a vehicle to deliver stock market data. Mobile phone owners can use com-mercial news services to access a full range of stock exchange data, price alert options or a bundle of prices on securities within a portfolio.

Electronic Distribution of Market Data

176

WSE Main List

Alior Bank S.A.www.aliorbank.plBank BPH Biuro Maklerskiewww.bm.bph.plBank Gospodarki Żywnościowej Biuro Maklerskiewww.bgz.plDom Maklerski BDM S.A.www.bdm.com.plBiuro Maklerskie Banku DnBNord PolskaS.A.www.bmdnbnord.plBloomberg LPwww.bloomberg.comBRE Bank S.A. – mBankwww.brebank.plBrokerjet Bank AGwww.brokerjet.atCAIT Sp. z o.o.www.cait.com.plCentralny Dom Maklerski Pekao S.A.www.cdmpekao.com.plDeutsche Bank PBC SAwww.deutsche-bank-pbc.plDom Inwestycyjny BRE Banku SAwww.brebank.plDom Inwestycyjny Xelion Sp. z o.o.www.xelion.plDom Maklerski AMERBROKERS S.A.www.amerbrokers.pl/Dom Maklerski Banku BPS S.A.www.dmbps.pl/Dom Maklerski Banku Handlowego S.A.www.dmbh.plDom Maklerski BOŚwww.bossa.plDom Maklerski BZ WBK S.A.dmbzwbk.plDom Maklerski IDM S.A.www.idmsa.plDom Maklerski PKO BP S.A.www.dm.pkobp.plFactivawww.factiva.comFactSet Research System Inc.www.factset.comFidelity Investmentswww.fidelity.comFidessa plcwww.fidessa.comFinancial WEB S.A.www.finweb.plFio banka, a.s.www.fio.skGrupa Onet.pl S.A.www.onet.pl

Grupa TRINITYwww.grupatrinity.plINFRONT ASwww.infront.asING Securities S.A.www.ingsecurities.plInteractive Datawww.KBCmakler.plINTERIA. PL S.A.www.interia.plKBC Securities N.V. (Spółka Akcyjna) Oddział w Polscewww.kbcmakler.plLiquidnet Europe Limitedwww.liquidnet.comMillennium Dom Maklerski S.A.www.millenniumdm.plNeoNet Securities S.A.www.neonet.bizNOBLE Securities S.A.www.noblesecurities,plNotoria Serwis SAwww.notoria,plNYSE Technologies [email protected] Agencja Prasowa S.A.www.pap.com.plPolski Terminal Finansowy Sp. z o.o.www.terminalfinansowy.plPresspublica Sp. z o.o.www.rp.plRaiffeisen Bank Polskawww.raiffeisen.plReuters Limitedwww.reuters.comThomson Reuters (Markets) Europe SpółkaAkcyjna Oddział w Polscewww.thomsonreuters.comSaxo Bank A/Swww.saxobank.comSIX Financial Information Ltd.www.six-telekurs.comSNL Financial LCwww.snl.comStaticawww.statica.plSunGard Financial Systems (France) SASwww.gltrade.comTRIGON Dom Maklerski SAwww.trigon.plUBS AGwww.ubs.comVwd. Vereingte Wirtschaftsdienste AGwww.vwd.com

List of WSE data distributors (end of February 2013)

177

Fact Book 2013

Services available directly from the WSEWSE public data servicesApart from services to commercial users, the Warsaw Stock Exchange also discloses stock market information on a free-of charge basis.

www.wse.com.plThis WSE website provides market updates, recent announcements as well as resolutions adopted by the Management Board and the Supervisory Board of the Warsaw Stock Ex-change. Trading data is published on an ongo-ing basis during sessions, with a 15-minute de-lay. The only exceptions are the WIG20 values, which are delivered in real time. The website also contains comprehensive sections with statistics and indices, organisational structure, operations and history of the WSE, legislation, description of trading systems and listed in-struments, contact details of listed companies, WSE members, data vendors as well as elec-tronic versions of numerous WSE publications as well as newsletters which are also distribut-ed via subscription. Information on the website is available in Polish, English and Russian.

www.newconnect.plThe NewConnect website offers quotations, market updates and recent announcements, legislation, statistics and contact details of listed companies, authorised advisers, market mem-bers and data vendors. The website is available in Polish, English and Russian.

www.wsecatalyst.plThis website was launched as Catalyst, the debt market, came into being. The site provides in-formation on authorised and listed instruments, market data, quotations, educational materials for investors, information for potential issuers, issuers’ documents and reports as well as Cata-lyst regulations. The website is available in Pol-ish and English.

www.gpwinfostrefa.pl This website is designed for investors who seek specific information regarding WSE-listed com-panies as well as market updates on Central and Eastern Europe. The site publishes official announcements from listed companies as well as corporate communication content. It serves as a distribution channel for official messages from the Warsaw Stock Exchange, the National

Depository for Securities and the Polish Finan-cial Supervision Authority, and a source of market analytics and reviews prepared by the Economic Service of the Polish Press Agency. The website has two language versions: Polish and English.

www.wseinternational.euA dedicated website for foreign companies list-ed on the WSE. It offers company reports and education materials for prospective issuers. The site has a Polish and an English version.

www.corp-gov.gpw.plThis website is dedicated to corporate govern-ance in WSE-listed companies. It offers ma-terials regarding the implementation of best practices as well as updates on relevant steps taken by the WSE. The website is also used as a communication tool between the WSE and its listed companies. It has two language versions: Polish and English.

www.respectindex.plThis website promotes the WSE’s RESPECT Index of socially responsible companies and reports on WSE’s outreach activities and ini-tiatives associated with social responsibility of listed companies. The website is available in Polish and English.

www.gpwmedia.pl The site, operated by WSE Infoengine SA, a WSE subsidiary, offers video streaming from IPOs on WSE markets, General Meetings of Shareholders and conferences. It publishes fi-nancial results, company reports and analytical materials.

In 2012 the WSE launched a mobile applica-tion with stock market data for users of Apple iOS (iPhone, iPad) and Android. With this app, owners of such mobile devices can monitor market quotations, key statistics and market updates from the WSE Main List, NewConnect and Catalyst.

For many years the WSE has operated a mobile version of its main website, available at m.gpw.pl., which means that users can monitor market quotations, indices, updates, resolutions etc. on their mobile devices. The launch of the new app for mobile users made market data even more easily accessible for investors.

178

WSE Main List

Listed Companies - WSE Main List (end of 2012)

06MAGNA [06N]NARODOWY FUNDUSZ INWESTYCYJNY MAGNA POLONIA SAwww.magnapolonia.com.pl

08OCTAVA [08N]NARODOWY FUNDUSZ INWESTYCYJNY OCTAVA SAwww.octava.com.pl

4FUNMEDIA [4FM]4FUN MEDIA SAwww.4funmedia.pl

ABCDATA [ABC]ABC DATA SAwww.abcdata.com.pl

ABMSOLID [ABM]ABM SOLID SAwww.abmsolid.eu

ABPL [ABE]AB SAwww.ab.pl

ACAUTOGAZ [ACG]AC SAwww.ac.com.pl

ACE [ACE]AUTOMOTIVE COMPONENTS EUROPE SAwww.acegroup.lu

ACTION [ACT]ACTION SAwww.action.pl

ADVADIS [ADS]ADVANCED DISTRIBUTION SOLUTIONS SAwww.ads-sa.com.pl

ADVGRUPA [ADV]GRUPA ADV SAwww.grupa-adv.pl

AGORA [AGO]AGORA SAwww.agora.pl

AGROTON [AGT]AGROTON PUBLIC LIMITEDwww.agroton.lg.ua

AGROWILL [AWG]AGROWILL GROUP ABwww.agrowill.lt

ALCHEMIA [ALC]ALCHEMIA SAwww.alchemiasa.pl

ALIOR [ALR]Alior Bank SAwww.aliorbank.pl

ALMA [ALM]ALMA MARKET SAwww.almamarket.pl

ALTERCO [ALT]ALTERCO SAwww.alterco.eu

AMBRA [AMB]AMBRA SAwww.ambra.com.pl

AMICA [AMC]AMICA WRONKI SAwww.amica.com.pl

AMPLI [APL]AMPLI SAwww.ampli.com.pl

AMREST [EAT]AMREST HOLDINGS SEwww.amrest.eu

APATOR [APT]APATOR SAwww.apator.torun.pl

APLISENS [APN]APLISENS SAwww.aplisens.pl

ARCTIC [ATC]ARCTIC PAPER SAwww.arcticpaper.com

ARCUS [ARC]ARCUS SAwww.arcus.pl

ARMATURA [ARM]KRAKOWSKA FABRYKA ARMATUR SAwww.kfa.pl

ARTERIA [ARR]ARTERIA SAwww.arteria.pl

ASBIS [ASB]ASBISC ENTERPRISES PLCwww.asbis.com

ASSECOBS [ABS]ASSECO BUSINESS SOLUTIONS SAwww.assecobs.pl

ASSECOPOL [ACP]ASSECO POLAND SAwww.asseco.pl

ASSECOSEE [ASE]ASSECO SOUTH EASTERN EUROPE SAwww.asseco-see.com

ASSECOSLO [ACS]ASSECO CENTRAL EUROPE SAwww.asseco.sk

ASTARTA [AST]ASTARTA HOLDING N.V.www.astartakiev.com

ATLANTAPL [ATP]ATLANTA POLAND SAwww.atlantapoland.com.pl

ATLANTIS [ATS]ATLANTIS SAwww.atlantis-sa.pl

ATLASEST [ATL]ATLAS ESTATES LIMITEDwww.atlasestates.com

ATM [ATM]ATM SAwww.atm.com.pl

ATMGRUPA [ATG]ATM GRUPA SAwww.atmgrupa.pl

ATMSI [ASI]ATM Systemy Informatyczne SAwww.atm-si.com.pl

ATREM [ATR]ATREM SAwww.atrem.pl

AVIASG [ASG]AVIA SOLUTION GROUP ABwww.aviasg.com

AWBUD [AWB]AWBUD SAwww.awbud.pl

AZOTYTARNOW [ATT]ZAKŁADY AZOTOWEW TARNOWIE - MOŚCICACH SAwww.azoty.tarnow.pl

B3SYSTEM [B3S]B3SYSTEM SAwww.b3system.pl

179

Fact Book 2013

BAKALLAND [BAK]BAKALLAND SAwww.bakalland.pl

BANKBPH [BPH]BANK BPH SAwww.bph.pl

BARLINEK [BRK]BARLINEK SAwww.barlinek.com.pl

BBICAPNFI [BBC]BBI CAPITALNARODOWY FUNDUSZ INWESTYCYJNY SAwww.bbicapital.pl

BBIDEVNFI [BBD]BBI DEVELOPMENTNARODOWY FUNDUSZ INWESTYCYJNY SAwww.bbidevelopment.pl

BBIZENNFI [BBZ]BBI ZENERISNARODOWY FUNDUSZ INWESTYCYJNY SAwww.bbizeneris.pl

BEDZIN [BDZ]ELEKTROCIEPŁOWNIA BĘDZIN SAwww.ecb.com.pl

BENEFIT [BFT]BENEFIT SYSTEMS SAwww.benefitsystems.pl

BERLING [BRG]BERLING SAwww.berling.pl

BEST [BST]BEST SAwww.best.com.pl

BETACOM [BCM]BETACOM SAwww.betacom.com.pl

BGZ [BGZ]BANK GOSPODARKI ŻYWNOŚCIOWEJ SAwww.bgz.pl

BIOTON [BIO]BIOTON SAwww.bioton.pl

BIPROMET [BPM]BIPROMET SAwww.bipromet.com.pl

BLACKLION [BLI]BLACK LIONNARODOWY FUNDUSZ INWESTYCYJNY SAwww.blacklion.com.pl

BMPAG [BMP]BMP AKTIENGESELLS-CHAFTwww.bmp.com

BNPPL [BNP]BNP PARIBAS BANK POLSKA SAwww.bnpparibas.pl

BOGDANKA [LWB]LUBELSKI WĘGIEL BOGDANKA SAwww.lw.com.pl; www.bogdanka.eu

BOMI [BMI]BOMI SAwww.bomi.pl

BORYSZEW [BRS]BORYSZEW SAwww.boryszew.com.pl

BOS [BOS]BANK OCHRONY ŚRODOWISKA SAwww.bosbank.pl

BOWIM [BOW]BOWIM SAwww.bowim.pl

BRE [BRE]BRE BANK SAwww.brebank.com.pl

BSCDRUK [BSC]BSC DRUKARNIA OPAKOWAŃ SAwww.bsc-packaging.com

BUDIMEX [BDX]BUDIMEX SAwww.budimex.com.pl

BUDOPOL [BDL]BUDOPOL-WROCŁAW SAwww.budopol.wroc.pl

BUDVARCEN [BDV]BUDVAR CENTRUM SAwww.budvar.pl

BUMECH [BMC]BUMECH SAwww.bumech.pl

BYTOM [BTM]ZAKŁADY ODZIEŻOWE BYTOM SAwww.bytom.com.pl

BZWBK [BZW]BANK ZACHODNI WBK SAwww.bzwbk.pl

CALATRAVA [CTC]CALATRAVA CAPITAL SAwww.calatravacapital.pl

CAMMEDIA [CAM]CAM MEDIA SAwww.cammedia.pl

CAPITAL [CPA]CAPITAL PARTNERS SAwww.c-p.pl

CASHFLOW [CFL]CASH FLOW SAwww.cashflow.com.pl

CCC [CCC]NG2 SAwww.ng2.com.pl

CCENERGY [CCE]CLEAN&CARBON ENERGY SAwww.ccenergy.pl

CCIINT [CCI]CINEMA CITY INTERNATIONAL N.V.www.cinemacity.nl

CDRED [CDR]CD PROJEKT RED SAwww.optimus.pl

CEDC [CDC]CENTRAL EUROPEAN DISTRIBUTIONCORPORATIONwww.cedc.com

CELTIC [CPD]CELTIC PROPERTY DEVELOPMENTS SAwww.celtic.pl

CEZ [CEZ]CEZ ASwww.cez.cz

CHEMOS [CHS]CHEMOSERVIS-DWORY SAwww.chemoservis.pl

CIECH [CIE]CIECH SAwww.ciech.com

CITYINTER [CIA]CITY INTERACTIVE SAwww.city-interactive.com

COALENERG [CLE]COAL ENERGY SAwww.coalenergy.com.ua

COGNOR [COG]COGNOR SAwww.cognor.pl

COLIAN [COL]COLIAN SAwww.jutrzenka.com.pl

COMARCH [CMR]COMARCH SAwww.comarch.pl

COMP [CMP]COMP SAwww.comp.com.pl

COMPLEX [CMX]COMPLEX SAwww.complexmetal.com.pl

CORMAY [CRM]PZ CORMAY SAwww.cormay.pl

180

WSE Main List

CYFRPLSAT [CPS]CYFROWY POLSAT SAwww.cyfrowypolsat.pl

CZTOREBKA-PDA [CZTA]CZERWONA TOREBKA SAwww.czerwonatorebka.pl

DEBICA [DBC]FIRMA OPONIARSKA DĘBICA SAwww.debica.com.pl

DECORA [DCR]DECORA SAwww.decora.pl

DELKO [DEL]DELKO SAwww.delko.com.pl

DGA [DGA]DGA SAwww.dga.com.pl

DMWDM [WDM]DOM MAKLERSKI WDM SAwww.wdmsa.pl

DOMDEV [DOM]DOM DEVELOPMENT SAwww.domdevelopment.com.pl

DRAGOWSKI [ADD]AD. DRĄGOWSKI SAwww.dragowski.pl

DREWEX [DRE]DREWEX SAwww.drewex.com

DROP [DRP]DROP SAwww.drop-sa.pl

DROZAPOL [DPL]DROZAPOL-PROFIL SAwww.drozapol.pl

DSS [DSS]DOLNOŚLĄSKIE SUROWCE SKALNE SAwww.dss.pl

DUDA [DUD]POLSKI KONCERN MIĘSNY DUDA SAwww.pkmduda.pl

DUON [DUO]Grupa Kapitałowa DUON www.duon.pl

ECARD [ECD]ECARD SAwww.ecard.pl

ECHO [ECH]ECHO INVESTMENT SAwww.echo-inv.com.pl

EDINIVEST [EDI]ED INVEST SAwww.edinvest.pl

EFEKT [EFK]KORPORACJA GOSPODARCZA EFEKT SAwww.efektsa.pl

EFH [EFH]EUROPEJSKI FUNDUSZ HIPOTECZNY SAwww.efh.com.pl

EKO [EKO]EKO HOLDING SAwww.eko.pl

EKOEXPORT [EEX]EKO EXPORT SAwww.ekoexport.pl

ELBUDOWA [ELB]ELEKTROBUDOWA SAwww.elbudowa.com.pl

ELEKTROTI [ELT]ELEKTROTIM SAwww.elektrotim.pl

ELKOP [EKP]PRZEDSIĘBIORSTWO ELEKTROMONTAŻOWEELKOP SAwww.elkop.pl

ELZAB [ELZ]ZAKŁADY URZĄDZEŃ KOMPUTEROWYCH

ELZAB SAwww.elzab.com.pl

EMCINSMED [EMC]EMC INSTYTUT MEDYCZNY SAwww.emc-sa.pl

EMPERIA [EMP]EMPERIA HOLDING SAwww.emperia.pl

ENAP [ENP]ENERGOAPARATURA SAwww.enap.com.pl

ENEA [ENA]ENEA SAwww.enea.pl

ENELMED [ENE]CENTRUM MEDYCZNE ENEL-MED. SAwww.enel.pl

ENERGOINS [ENI]ENERGOINSTAL SAwww.energoinstal.pl

ENERGOPLD [EPD]ENERGOMONTAŻ-POŁUDNIE SAwww.energomontaz.pl

ENERGOPOL [EPL]ENERGOPOL - POŁUDNIE SAwww.energopolpoludnie.eu

ERBUD [ERB]ERBUD SAwww.erbud.pl

ERG [ERG]ERG SAwww.erg.com.pl

ERGIS [EEF]ERGIS-EUROFILMS SAwww.ergis-eurofilms.eu

ESSYSTEM [ESS]ES-SYSTEM SAwww.essystem.pl

ESTAR [EST]ESTAR ALTERNATIV ENERGIASZOLGAL-

TATO NYRT.www.e-star.hu

EUCO [EUC]EUROPESJKIE CENTRUM ODSZKODOWAŃ SAwww.euco.pl

EUIMPLANT [EUI]EUROIMPLANT SAwww.euroimplant.com.pl

EUROCASH [EUR]EUROCASH SAwww.eurocash.com.pl

EUROHOLD [EHG]EUROHOLD BULGARIA ADwww.eurohold.bg

EUROMARK [EMK]EUROMARK POLSKA SAwww.euromark.pl

EUROTEL [ETL]EUROTEL SAwww.eurotel.pl

EXILLON [EXL]Exillon Energy SAwww.exillonenergy.pl

FAM [FAM]FAM GRUPA KAPITAŁOWA SAwww.famgk.com.pl

FAMUR [FMF]FABRYKA MASZYN FAMUR SAwww.famur.com.pl

FARMACOL [FCL]FARMACOL SAwww.farmacol.com.pl

FASING [FSG]FABRYKI SPRZĘTU I NARZĘDZI GÓRNICZYCHGRUPA KAPITAŁOWA FASING SAwww.fasing.pl

181

Fact Book 2013

FASTFIN [FFI]FAST FINANCE SAwww.fastfinance.pl

FERRO [FRO]FERRO SAwww.ferro.pl

FERRUM [FER]FERRUM SAwww.ferrum.com.pl

FON [FON]FON SAwww.fon-sa.pl

FORTE [FTE]FABRYKI MEBLI FORTE SAwww.forte.com.pl

FORTUNA [FEG]FORTUNA ENTERTAINMENT GROUP N.V.www.fortuna-group.eu

FOTA [FOT]FOTA SAwww.fota.pl

GANT [GNT]GANT DEVELOPMENT SAwww.gant.pl

GETIN [GTN]GETIN HOLDING SAwww.getin.pl

GETINOBLE [GNB]GETIN NOBLE BANK SAwww.getinnoblebank.pl

GINOROSSI [GRI]GINO ROSSI SAwww.gino-rossi.com

GPW [GPW]GIEŁDA PAPIERÓW WARTOŚCIOWYCHW WARSZAWIE SAwww.gpw.pl

GRAAL [GRL]GRAAL SAwww.graal.pl

GRAJEWO [GRJ]PFLEIDERER GRAJEWO SAwww.pfleiderer.pl

GREENECO [GET]Greeneco TECHNOLOGY SAwww.green-eco.net

GREMISLTN [GRS]GREMI MEDIA SAwww.eurofaktor.pl

GROCLIN [GCN]INTER GROCLIN AUTO SAwww.groclin.com.pl

GTC [GTC]GLOBE TRADE CENTRE SAwww.gtc.com.pl

HANDLOWY [BHW]BANK HANDLOWY W WARSZAWIE SAwww.citihandlowy.pl

HARPER [HRP]HARPER HYGIENICS SAwww.cleanic.pl

HAWE [HWE]HAWE SAwww.hawesa.pl

HBPOLSKA [HBP]HYDROBUDOWA POLSKA SAwww.hbp-sa.pl

HELIO [HEL]HELIO SAwww.helio.pl

HERKULES [HRS]HERKULES SAwww.herkule-polska.pl

HUTMEN [HTM]HUTMEN SAwww.hutmen.pl

HYDROTOR [HDR]PRZEDSIĘBIORSTWO HYDRAULIKI SIŁOWEJHYDROTOR SAwww.hydrotor.com.pl

HYGIENIKA [HGN]HYGIENIKA SAwww.hygienika.pl

HYPERION [HYP]HYPERION SAwww.hyperion.pl

IDEATFI [IDA]IDEA TOWARZYSTWO FUNDUSZYINWESTYCYJNYCH SAwww.idea.tfi.pl

IDEON [IDE]IDEON SAwww.ideon.eu

IDMSA [IDM]DOM MAKLERSKI IDMSA SAwww.idmsa.pl

IGROUP [IGR]INTERNET GROUP SAwww.igroup.pl

IFCAPITAL [IFC]IF CAPITAL SAwww.ifcapital.pl

IMCOMPANY [IMC]INDUSTRIAL MILK COMPANY SAwww.imcmilk.com.ua

IMPEL [IPL]IMPEL SAwww.impel.pl

IMPEXMET [IPX]IMPEXMETAL SAwww.impexmetal.com.pl

INDYKPOL [IND]INDYKPOL SAwww.indykpol.com.pl

INGBSK [BSK]ING BANK ŚLĄSKI SAwww.ing.pl

INPRO [INP]INPRO SAwww.inpro.com.pl

INSTALKRK [INK]INSTAL KRAKÓW SAwww.instalkrakow.pl

INTAKUS [ITK]INTAKUS SAwww.intakus.pl

INTEGERPL [ITG]INTEGER.PL SAwww.integer.pl

INTERAOLT [IRL]INTER RAO Lietuva ABwww.interrao.lt/pol

INTERBUD [ITB]INTERBUD-LUBLIN SAwww.interbud.com.pl

INTERCARS [CAR]INTER CARS SAwww.intercars.com.pl

INTERFERI [INF]INTERFERIE SAwww.interferie.pl

INTERSPPL [IPO]INTERSPORT POLSKA SAwww.intersport.pl

INTROL [INL]INTROL SAwww.introlsa.pl

INWESTCON [INC]INWESTCON GROUP SAwww.ic.poznan.pl

IPOPEMA [IPE]IPOPEMA SECURITIES SAwww.ipopema.pl

IQP [IQP]IQ PARTNERS SAwww.iqpartners.pl

IVMX [IMX]INFOVIDE-MATRIX SAwww.infovidematrix.pl

KANIA [KAN]Zakłady Przetwórstwa Mięsnego Henryk Kania SAwww.zpmkania.com.pl

182

WSE Main List

IZOLACJA [IZO]IZOLACJA-JAROCIN SAwww.izolacja-jarocin.pl

IZOSTAL [IZS]IZOSTAL SAwww.izostal.com.pl

JHMDEV [JHM]JHM DEVELOPMENT SAwww.jhmdevelopment.pl

JSW [JSW]JASTRZĘBSKA SPÓŁKA WĘGLOWA SAwww. jsw.pl

JUPITER [JPR]JUPITER NFI SAwww.jupiter-nfi.pl

JWCONSTR [JWC]J.W. CONSTRUCTION HOLDING SAwww.jwconstruction.com.pl

K2INTERNT [K2I]K2 INTERNET SAwww.k2.pl

KBDOM [KBD]KORPORACJA BUDOWLANA DOM SAwww.kbdom.eu

KCI [KCI]KCI SAwww.kci.pl

KDMSHIPNGGrupa kapitałowa KDM Shippingwww.kdmshipping.com/pl

KERNEL [KER]KERNEL HOLDING SAwww.kernel.ua

KETY [KTY]GRUPA KĘTY SAwww.gk-kety.com.pl

KGHM [KGH]KGHM POLSKA MIEDŹ SAwww.kghm.pl

KINOPOL [KPL]KINO POLSKA TV SAwww.kinopolska.pl

KOELNER [KLR]KOELNER SAwww.koelner.pl

KOFOLA [KFL]KOFOLA SAwww.kofola.pl

KOGENERA [KGN]ZESPÓŁ ELEKTROCIEPŁOWNI WROCŁAWSKICHKOGENERACJA SAwww.kogeneracja.com.pl

KOMPAP [KMP]PRZEDSIĘBIORSTWO PRODUKCYJNOHANDLOWE KOMPAP SAwww.kompap.pl

KOMPUTRON [KOM]KOMPUTRONIK SAwww.komputronik.pl

KONSSTALI [KST]KONSORCJUM STALI SAwww.konsorcjumstali.com.pl

KOPEX [KPX]KOPEX SAwww.kopex.com.pl

KOV [KOV]KULCZYK OIL VENTURES INC.www.kulczykoil.com

KPPD [KPD]KOSZALIŃSKIE PRZEDSIĘBIORSTWOPRZEMYSŁU DRZEWNEGO SAwww.kppd.pl

KRAKCHEM [KCH]KRAKCHEMIA SAwww.krakchemia.pl

KREC [KRC]KRYNICKI RECYKLING SAwww.krynicki.pl

KREDYTB [KRB]KREDYT BANK SAwww.kredytbank.pl

KREDYTIN [KRI]KREDYT INKASO SAwww.kredytinkaso.pl

KREZUS [KZS]NARODOWY FUNDUSZ INWESTYCYJNYKREZUS SAwww.nfikrezus.pl

KRKA [KRK]Krka, d. d.www.krkapolska.pl

KRUK [KRU]KRUK SAwww.kruksa.pl

KRUSZWICA [KSW]ZAKŁADY TŁUSZCZOWE KRUSZWICA SAwww.ztkruszwica.pl

KSGAGRO [KSG]KSG AGRO SAwww.ksgagro.com

LCCORP [LCC]LC CORP SAwww.lcc.pl

LENA [LEN]LENA LIGHTING SAwww.lenalighting.pl

LENTEX [LTX]ZAKŁADY LENTEX SAwww.lentex.com.pl

LIBET [LBT]LIBET SAwww.libet.pl

LIBRA [LBC]Libra Capital S.Awww.libracapital.pl

LOTOS [LTS]GRUPA LOTOS SAwww.lotos.pl

LPP [LPP]LPP SAwww.lpp.com.pl

LSISOFT [LSI]LSI SOFTWARE SAwww.lsisoftware.pl

LSTCAPITA [LST]LST CAPITAL SAwww.lstcapital.pl

LUBAWA [LBW]LUBAWA SAwww.lubawa.com.pl

MAGELLAN [MAG]MAGELLAN SAwww.magellan.pl

MAKARONPL [MAK]MAKARONY POLSKIE SAwww.makarony.pl

MAKRUM [MKM]MAKRUM SAwww.makrum.pl

MARVIPOL [MVP]MARVIPOL SAwww.marvipol.pl

MCI [MCI]MCI MANAGEMENT SAwww.mci.pl

MCLOGIC [MCL]MACROLOGIC SAwww.macrosoft.pl

MEDIATEL [MTL]MEDIATEL SAwww.mediatel.pl

MEGARON [MEG]MEGARON SAwww.megaron.com.pl

183

Fact Book 2013

MENNICA [MNC]MENNICA POLSKA SAwww.mennica.com.pl

MERCOR [MCR]MERCOR SAwww.mercor.com.pl

MEWA [MEW]MEWA SAwww.mewa.com.pl

MEXPOLSKA [MEX]Mex Polska SAwww.mexpolska.pl

MIDAS [MDS]NARODOWY FUNDUSZ INWESTYCYJNYMIDAS SAwww.midasnfi.pl

MIESZKO [MSO]ZAKŁADY PRZEMYSŁU CUKIERNICZEGOMIESZKO SAwww.mieszko.com.pl

MILKILAND [MLK]MILKILAND N.V.www.milkiland.com

MILLENNIUM [MIL]BANK MILLENNIUM SAwww.bankmillennium.pl

MIRACULUM [MIR]MIRACULUM SAwww.miraculum.pl

MIRBUD [MRB]MIRBUD SAwww.mirbud.com.pl

MISPOL [MIP]MISPOL SAwww.mispol.com.pl

MIT [MIT]MIT MOBILE INTERNET TECHNOLOGY SAwww.ppwk.pl

MNI [MNI]MNI SAwww.mni.pl

MOBRUK [MBR]GRUPA KAPITAŁOWA MO-BRUK SAwww.mobruk.pl

MOJ [MOJ]MOJ SAwww.moj.com.pl

MOL [MOL]MOL MAGYAR OLAJ - ES GAZIPARI NYILVANOSAN MUKODO RESZVENYTARSASAGwww.mol.hu

MONNARI [MON]MONNARI TRADE SAW UPADŁOŚCI LIKWIDACYJNEJwww.monnari.com.pl

MOSTALEXP [MSX]MOSTOSTAL EXPORT SAwww.mostostal-export.com.pl

MOSTALPLC [MSP]MOSTOSTAL PŁOCK SAwww.mostostal-plock.com.pl

MOSTALWAR [MSW]MOSTOSTAL WARSZAWA SAwww.mostostal.waw.pl

MOSTALZAB [MSZ]MOSTOSTAL ZABRZE HOLDING SAwww.mostostal.zabrze.pl

MUZA [MZA]MUZA SAwww.muza.com.pl

MWTRADE [MWT]M.W. TRADE SAwww.mwtrade.pl

NETIA [NET]NETIA SAwww.netia.pl

NETMEDIA [NEM]NETMEDIA SAwww.netmedia.com.pl

NEUCA [NEU]NEUCA SAwww.neuca.pl

NEWWORLDR [NWR]NEWWORLD RESOURCES PLCwww.nwrgroup.eu

NFIEMF [EMF]NARODOWY FUNDUSZ INWESTYCYJNYEMPIK MEDIA & FASHION SAwww.emf.pl

NOKAUT [NOK]Grupa Nokaut SAwww.nokaut.pl

NORDEABP [NDA]NORDEA BANK POLSKA SAwww.nordeabank.pl

NORTCOAST [NCT]NORTH COAST SAwww.northcoast.com.pl

NOVAKBM [KBM]NOVA KREDITNA BANKA MARIBOR D.D.www.nkbm.si

NOVITA [NVT]NOVITA SAwww.novita.com.pl

NOWAGALA [CNG]CERAMIKA NOWA GALA SAwww.nowa-gala.com.pl

NTTSYSTEM [NTT]NTT SYSTEM SAwww.ntt.com.pl

ODLEWNIE [ODL]ODLEWNIE POLSKIE SAwww.odlewniepolskie.pl

OLYMPIC [OEG]OLYMPIC ENTERTAINMENT GROUP ASwww.oc.eu

ONE2ONE [O2O]ONE-2-ONE SAwww.one-2-one.pl

OPENFIN [OPF]OPEN FINANCE SAwww.open.pl

OPONEO [OPN]OPONEO.PL SAwww.oponeo.pl

OPTEAM [OPM]OPTEAM SAwww.opteam.pl

ORBIS [ORB]ORBIS SAwww.orbis.pl

ORCOGROUP [OPG]ORCO PROPERTY GROUP SAwww.orcogroup.com

ORZBIALY [OBL]ORZEŁ BIAŁY SAwww.orzel-bialy.com.pl

OTMUCHOW [OTM]ZAKŁADY PRZEMYSŁU CUKIERNICZEGOOTMUCHÓW SAwww.zpcotmuchow.com.pl

OVOSTAR [OVO]OVOSTAR UNION N.V.www.ovostar.ua

PAGED [PGD]PAGED SAwww.paged.pl

PAMAPOL [PMP]PAMAPOL SAwww.pamapol.com.pl

PANOVA [NVA]P.A. NOVA SAwww.pa-nova.com.pl

PATENTUS [PAT]PATENTUS SAwww.patentus.pl

PBG [PBG]PBG SAwww.pbg-sa.pl

PBOANIOLA [PBO]PBO ANIOŁA SAwww.pboaniola.pl

184

WSE Main List

PBSFINANSE [PBF]PBS FINANSE SAwww.beefsan.com.pl

PCCEXOL [PCX]PCC Exol SAwww.pcc-exol.eu

PCCINTER [PCI]PCC INTERMODAL SAwww.pccintermodal.pl

PCGUARD [PCG]PC GUARD SAwww.pcguard.pl

PEGAS [PGS]PEGAS NONWOVENS SAwww.pegas.cz

PEKAES [PEK]PEKAES SAwww.pekaes.com.pl

PEKAO [PEO]BANK POLSKA KASA OPIEKI SAwww.pekao.com.pl

PELION [PEL]PELION SAwww.pelion.eu

PEMUG [PMG]PRZEDSIĘBIORSTWO MONTAŻU KONSTRUKCJI STALOWYCH I URZĄDZEŃ GÓRNICZYCH PEMUG SAwww.pemug.com.pl

PEP [PEP]POLISH ENERGY PARTNERS SAwww.pepsa.com.pl

PEPEES [PPS]PRZEDSIĘBIORSTWOPRZEMYSŁU SPOŻYWCZEGOPEPEES SAwww.pepees.pl

PERMEDIA [PMD]ZAKŁADY CHEMICZNE PERMEDIA SAwww.permedia.pl

PETROLINV [OIL]PETROLINVEST SAwww.petrolinvest.pl

PGE [PGE]PGE POLSKA GRUPA ENERGETYCZNA SAwww.pgesa.pl

PGNIG [PGN]POLSKIE GÓRNICTWO NAFTOWEI GAZOWNICTWO SAwww.pgnig.pl

PGODLEW [PGO]POLSKA GRUPA ODLEWNICZA SAwww.pgo-sa.com.pl

PKNORLEN [PKN]POLSKI KONCERN NAFTOWY ORLEN SAwww.orlen.pl

PKOBP [PKO]POWSZECHNA KASA OSZCZĘDNOŚCIBANK POLSKI SAwww.pkobp.pl

PLASTBOX [PLX]PRZETWÓRSTWO TWORZYW SZTUCZNYCHPLAST-BOX SAwww.plast-box.com

PLAZACNTR [PLZ]PLAZA CENTERS N.V.www.plazacenters.com

POINTGROUP [PGM]PLATFORMA MEDIOWA POINT GROUP SAwww.point-group.pl

POLAQUA [PQA]PRZEDSIĘBIORSTWO ROBÓT INŻYNIERYJNYCHPOL-AQUA SAwww.pol-aqua.com.pl

POLCOLORIT [PLT]POLCOLORIT SAwww.polcolorit.pl

POLICE [PCE]ZAKŁADY CHEMICZNE POLICE SAwww.zchpolice.com

POLIMEXMS [PXM]POLIMEX - MOSTOSTAL SAwww.polimex-mostostal.pl

POLJADLO [PLJ]POLSKIE JADŁO SAwww.polskiejadlo.com.pl

POLLENAE [PLE]FABRYKA KOSMETYKÓWPOLLENA-EWA SAwww.pollenaewa.com.pl

POLMED [POM]POLMED SAwww.polmed.pl

POLNA [PLA]ZAKŁADY AUTOMATYKI POLNA SAwww.polna.com.pl

POLNORD [PND]POLNORD SAwww.polnord.pl

POZBUD [POZ]POZBUD T&R SAwww.pozbud.pl

PRAGMAFA [PRF]PRAGMA FAKTORING SAwww.grupafinansowa.pl

PRAGMAINK [PRI]PRAGMA INKASO SAwww.pragmainkaso.pl

PRESCO [PRE]P.R.E.S.C.O. GROUP SAwww.presco.pl

PRIMAMODA [PMA]PRIMA MODA SAwww.primamoda.com.pl

PROCAD [PRD]PROCAD SAwww.procad.pl

PROCHEM [PRM]PROCHEM SAwww.prochem.com.pl

PROCHNIK [PRC]PRÓCHNIK SAwww.prochnik.com.plPROJPRZEM [PJP]PROJPRZEM SAwww.projprzem.com

PROTEKTOR [PRT]LUBELSKIE ZAKŁADY PRZEMYSŁU SKÓRZANEGOPROTEKTOR SAwww.protektorsa.pl

PTI [PTI]POWSZECHNE TOWARZYSTWO INWESTYCYJNE SAwww.ptisa.pl

PULAWY [ZAP]ZAKŁADY AZOTOWE PUŁAWY SAwww.zapulawy.pl

PWRMEDIA [PWM]POWER MEDIA SAwww.power.com.pl

PZU [PZU]POWSZECHNY ZAKŁAD UBEZPIECZEŃ SAwww.pzu.pl

QUANTUM [QNT]QUANTUM SOFTWARE SAwww.quantum-software.com

QUERCUS [QRS]QUERCUS TFI SAwww.quercustfi.pl

QUMAKSEK [QSM]QUMAK - SEKOM SAwww.qumak.pl

RADPOL [RDL]RADPOL SAwww.radpol.com.pl

RAFAKO [RFK]RAFAKO SAwww.rafako.com.pl

RAFAMET [RAF]FABRYKA OBRABIAREK RAFAMET SAwww.rafamet.com.pl

185

Fact Book 2013

RAINBOW [RBW]RAINBOW TOURS SAwww.rainbowtours.pl

RANKPROGR [RNK]RANK PROGRESS SAwww.rankprogress.pl

REDAN [RDN]REDAN SAwww.redan.com.pl

REGNON [REG]REGNON SAwww.regnon.com

REINHOLD [RHD]REINHOLD POLSKA A.B.www.reinholdpolska.com

RELPOL [RLP]RELPOL SAwww.relpol.com.pl

REMAK [RMK]PRZEDSIĘBIORSTWO MODERNIZACJI URZĄDZEŃENERGETYCZNYCH REMAK SAwww.remak.com.pl

RESBUD [RES]RESBUD SAwww.resbud.pl

ROBYG [ROB]ROBYG SAwww.robyg.com.pl

RONSON [RON]RONSON EUROPE N.V.www.ronson.pl

ROPCZYCE [RPC]ZAKŁADY MAGNEZYTOWEROPCZYCE SAwww.ropczyce.com.pl

ROVESE [RSE]ROVSE SAwww.rovse.com

RUBICON [RBC]RUBICON PARTNERS NFI SAwww.rpnfi.pl

SADOVAYA [SGR]SADOVAYA GROUP SAwww.sadovayagroup.comSANOK [SNK]SANOCKIE ZAKŁADYPRZEMYSŁU GUMOWEGOSTOMIL SANOK SAwww.stomilsanok.com.pl

SANWIL [SNW]SANWIL HOLDING SAwww.sanwil.com

SECOGROUP [SWG]SECO/WARWICK SAwww.secowarwick.com.pl

SEKO [SEK]SEKO SAwww.rybki-seko.pl

SELENAFM [SEL]SELENA FM SAwww.selenafm.com

SFINKS [SFS]SFINKS POLSKA SAwww.sfinks.pl

SILVANO [SFG]AS SILVANO FASHION GROUPwww.silvanofashion.com

SIMPLE [SME]SIMPLE SAwww.simple.com.pl

SKOK [SKO]TOWARZYSTWO FINANSOWESPÓŁDZIELCZYCH KASOSZCZĘDNOŚCIOWO-KREDYTOWYCH SAwww.tfskok.pl

SKOTAN [SKT]SKOTAN SAwww.skotansa.pl

SKYLINE [SKL]SKYLINE INVESTMENT SAwww.skyline.com.pl

SNIEZKA [SKA]FABRYKA FARB I LAKIERÓWŚNIEŻKA SAwww.sniezka.pl

SOBIESKI [BVD]BELVEDERE SAwww.belvedere.fr

SOLAR [SOL]Solar Company S.Awww.solar-company.com.pl

SONEL [SON]SONEL SAwww.sonel.pl

SOPHARMA [SPH]SOPHARMA ADwww.sopharma.bg

STALEXP [STX]STALEXPORT AUTOSTRADY SAwww.stalexport-autostrady.pl

STALPROD [STP]STALPRODUKT SAwww.stalprodukt.pl

STALPROFI [STF]STALPROFIL SAwww.stalprofil.com.pl

STAPORKOW [ZUK]ZAKŁADY URZĄDZEŃ KOTŁOWYCHSTĄPORKÓW SAwww.zuk.com.pl

SUWARY [SUW]SUWARY SAwww.suwary.com.pl

SWISSMED [SWD]SWISSMED CENTRUM ZDROWIA SAwww.swissmed.pl

SYGNITY [SGN]SYGNITY SAwww.sygnity.pl

SYNTHOS [SNS]SYNTHOS SAwww.synthosgroup.com

TALEX [TLX]TALEX SAwww.talex.pl

TATRY [TMR]Tatry mountain resorts a.s.www.tmr.sk

TAURONPE [TPE]TAURON POLSKA ENERGIA SAwww.tauron-pe.pl

TELL [TEL]TELL SAwww.tell.pl

TERESA [TER]PANI TERESA-MEDICA SAwww.pani-teresa.com.pl

TESGAS [TSG]TESGAS SAwww.tesgas.pl

TFONE [TFO]TELFORCEONE SAwww.telforceone.com

TIM [TIM]TIM SAwww.tim.pl

TOYA [TOA]TOYA SAwww.toya.pl

TPSA [TPS]TELEKOMUNIKACJA POLSKA SAwww.tp.pl; www.tp-ir.pl

TRAKCJA [TRK]TRAKCJA POLSKA SAwww.trakcjapolska.com

TRANSPOL [TRN]TRANS POLONIA SAwww.transpolonia.pl

TRAVELPL [TVL]TRAVELPLANET.PL SAwww.travelplanet.pl

186

WSE Main List

TRITON [TRI]TRITON DEVELOPMENT SAwww.tritondevelopment.pl

TUP [TUP]TUP SAwww.tup.com.pl

TVN [TVN]TVN SAwww.tvn.pl

ULMA [ULM]ULMA CONSTRUCCION POLSKA SAwww.ulma-c.pl

UNIBEP [UNI]UNIBEP SAwww.unibep.pl

UNICREDIT [UCG]UNICREDIT S.P.Awww.unicreditgroup.eu

UNIMA [U2K]UNIMA 2000SYSTEMY TELEINFOR-MATYCZNE SAwww.unima2000.com.pl

VANTAGE [VTG]VANTAGE DEVELOPMENT SAwww.vantage-sa.pl

VARIANT [VRT]VARIANT SAwww.variant.pl

VINDEXUS [VIN]GIEŁDA PRAW MAJĄTKOWYCH VINDEXUS SAwww.gpm-vindexus.pl

VISTULA [VST]VISTULA GROUP SAwww.vistula.com.pl

VOTUM-PDA [VOTA]VOTUM SAwww.votum-sa.pl

VOXEL [VOX]VOXEL SAwww.voxel.pl

WADEX [WAX]PRZEDSIEBIORSTWO PRODUKCYJNO HANDLOWE SAwww.wadex.pl

WANDALEX [WDX]WANDALEX SAwww.wandalex.pl

URSUS [URS]URSUS SAwww.ursus.com.pl

WARIMPEX [WXF]WARIMPEXFINANZ- UND BETEILIGUNGS AGwww.warimpex.com

WASKO [WAS]WASKO SAwww.wasko.pl

WAWEL [WWL]WAWEL SAwww.wawel.com.pl

WESTAISIC [WES]WESTA ISIC SAwww.westa.com.ua

WIELTON [WLT]WIELTON SAwww.wielton.com.pl

WIKANA [WIK]WIKANA SAwww.wikana.pl

WILBO [WLB]WILBO SAwww.wilbo.com.pl

WISTIL [WST]WISTIL SAwww.wistil.pl

WOJAS [WOJ]WOJAS SAwww.wojas.com.pl

WORKSERV [WSE]WORK SERVICE SAwww.workservice.pl

YAWAL [YWL]YAWAL SAwww.yawal.com

ZAMET [ZMT]ZAMET INDUSTRY SAwww.zamet-industry.com.pl

ZASTAL [ZST]ZASTAL SAwww.zastal.pl

ZELMER [ZLR]ZELMER SAwww.zelmer.pl

ZEPAK [ZEP]ZE PAK SAwww.zepak.com.pl

ZETKAMA [ZKA]ZETKAMA SAwww.zetkama.com.pl

ZPUE [PUE]ZPUE SAwww.zpue.pl

ZREMB [ZRE]ZAKŁAD BUDOWY MASZYNZREMB - CHOJNICE SAwww.zremb-ch.com.plZUE [ZUE]ZUE SAwww.grupazue.pl

ZYWIEC [ZWC]GRUPA ŻYWIEC SAwww.grupazywiec.pl

187

WSE Main list

The Derivatives Market

Derivative instruments listed on the Warsaw Stock Exchange include futures contracts, options and index participation units. The trading volume for all derivatives totalled 11.3 million items. The WSE derivatives market is the only such well-developed market of derivative instruments among ex-changes of Central and Eastern Europe. At the end of December 2012 the number of registered NIKs (unique investor numbers) was 81,818. Open interest at the end of 2012 totalled 147,900.

All derivatives are traded under the conti-nuous trading system between 8:30 a.m. and 5:30 p.m. There is an auction at the opening and the closing of the session, as is the case with other instruments traded un-der the continuous system. After the closing auction a 5-minute post-auction trading ses-sion follows (5:30 to 5:35 p.m.).

The Warsaw Stock Exchange also enables block trades in derivatives (futures contracts and options). A block trade may be made at a price which falls between the price varia-tion limits on the central market. The WSE defines the maximum and minimum allo-wable volume of a block trade.

As the organiser of trading, the Warsaw Stock Exchange develops trading standards for each derivative instrument, i.e. a deta-iled description which specifies, for instan-ce, the calculation method to establish the instrument value, the first and last day of trading etc. On the other hand, the proce-dures of settlement and registration as well as the margin are defined by KDPW_CCP, which acts as clearing house. In order to ensure liquidity in futures trading, some WSE members act as market makers. This means that they sign a relevant agreement with the WSE under which they are obliga-ted to maintain bid/ask quotes in the order book. Quotations of derivatives are subject

to dynamic and static price limitations defi-ned versus the reference price.

Important events on the deri-vatives market in 2012 New classes of currency futures were

launched. Equity futures for four new companies were offered for the first time, i.e. Giełda Papierów Wartościowych w Warszawie SA, Boryszew SA, Kulczyk Oil Ventures Inc. and Synthos SA. As of 1 Ja-nuary 2013 the WSE offered equity futu-res for shares in 22 companies.

BRE Bank assumed the role of the mar-ket maker on the WIG20 options market. In total, the liquidity of options trading is currently supported by six market ma-kers: four domestic entities and two fo-reign ones. The increased number of market makers in recent years significan-tly improved the liquidity of trading in this segment.

A change was introduced in the WIG20 characteristics, i.e. the number of options with the nearest expiry date was increa-sed.

The characteristics of all currency futures were modified. The change involved the transaction unit (contract size), which was reduced ten times. According to the new characteristics, one currency future com-prises 1,000 units of the currency concer-ned (USD, EUR or CHF) instead of the pre-vious 10,000.

191

Fact Book 2013

FuturesThe futures contracts traded on the WSE in 2012 were based on WIG20 and mWIG40 indices, currencies (USD, EUR, CHF) and shares of companies. In total, at the end of the year, there were 91 series of futures in trading, by 12 more than one year earlier. As in previous years, the index futures mar-ket generated the highest trading volumes. The Warsaw bourse is comparable to other developed European markets with respect to the scale of trading in these futures as it holds, again, the 4th position in Europe in terms of trading volume in index futures.

WIG20 futures continued to be the most popular of all derivatives. The trading vo-lume for these instruments amounted to 9.1 million contracts. The average monthly volume in 2012 was 756,000 contracts, and the monthly volume peaked in June 2012 (1.02 million futures contracts). At the end of 2012, open interest for this instrument to-talled 89,900 whereas this value peaked at the end of February 2012, reaching 132,100 instruments. WIG20 futures took the 8th position in terms of trading volume among all index futures across Europe.

In 2012, the WSE continued to expand its range of equity futures. Four new contracts were launched, for the following equities: Giełda Papierów Wartościowych w War-szawie SA, Boryszew SA, Kulczyk Oil Ven-tures Inc. and Synthos SA. As a result, 22 equity futures were offered at the WSE at the end of the year. The trading volume for equity futures reached 540,300. The avera-ge monthly volume totalled 45,000 contra-cts. The monthly peak, representing 63,800 contracts, was recorded in October 2012. At the end of 2012 open interest in equity futures totalled 8,200. The number of open interest was highest in November, reaching 18,100 contracts.

Overall, currency futures generated a trading volume of 960,900 in 2012. The ave-rage monthly volume totalled 80,600 and the highest monthly volume in 2012 was recorded in September, reaching 112,500 contracts. At the end of the year, open in-terest in those instruments reached 24,100. The highest figure for open interest was recorded in November: 27,000. The most popular currency futures in 2012 were the USD/PLN ones. The trading volume in this class of futures reached 821,800 contra-cts, which represented 85.5% of the total trading volume in currency futures.

The highest trading volume in futures is ge-nerated by domestic individual investors, who accounted for 47% volume in 2012.

192

WSE Main list

Index futures contracts – key characteristics

Contract symbol FXYZkrr, where:F – type of instrumentXYZ – abbreviated name of underlying instrument (WIG20, WIG40)k – delivery month code (specified by the WSE)rr – last two digits of delivery year

Multiplier PLN 10

Contract value Multiplier x Contract price

Quotation unit Index points

Contract delivery months For WIG20 futures: the nearest four months from among March, June, September, December. For mWIG40 futures: the nearest three months from among March, June, September, December.

Last trading day The trading day on the third Friday of the delivery month. If there is no trading session on that date, the last trading session day preceding the third Friday of the delivery month is taken.

Expiry date The same as the last trading day

First trading day for a new series The first trading day following the expiry of the previous contract series

Final settlement price Final settlement price is determined on the contract expiry date as the arithmetic mean of all values of an index (WIG20, mWIG40) during the last hour of continuous trading and its value at the session close, having rejected 5 top and 5 bottom index values.

Settlement dateThe next business day following the contract expiry date (day after the last trading day)

Settlement method Cash settlement in PLN

193

Fact Book 2013

Currency futures contracts – key characteristics

Contract symbol FXYZkrr, where:F – type of instrument XYZ – abbreviated name of underlying instrument (EUR, USD, CHF) k – delivery month code (specified by the WSE) rr – last two digits of delivery year

Transaction unit (Contract size)

EUR 10,000, USD 10,000 or CHF 10,000

Contract delivery months 3 subsequent calendar months + 3 subsequent months from the March calendar cycle.



First trading day for a new series The first trading day following the previous contract expiry

Final settlement price The average EUR, USD or CHF exchange rate determined by the National Bank of Poland at the fixing on the contract expiry date multiplied by 100. It is expressed to the nearest PLN 0.01 (per EUR 100, USD 100, or CHF 100).

Final settlement value Final settlement price (per EUR 1, USD 1 or CHF 1) multiplied by contract size

Settlement date The next business day following the contract expiry date


Trading calendar for WIG20 futures and currency futures

1 2 3 4 5 6 7 8 9 10 11 12

March

June

September

December

March

June

September

December

194

WSE Main list

Stock futures contracts – key characteristics

Contract symbol FXYZkrr, where:F – type of instrument XYZ – abbreviated name of underlying instrument k – delivery month code (specified by the WSE) rr – last two digits of delivery year

Number of shares per contract 1,000

Quotation unit PLN (per share)

Contract value Product of contract price and number of shares per contract

Contract delivery months Three nearest months of the following cycle: March, June, September, December



First trading day for a new series The first trading day following the previous contract expiry date

Final settlement price The price of the last transaction in underlying shares, concluded on the trading session on the expiry date for the futures concerned.

Settlement date The next business day following the contract expiry date (after the last trading day)

Settlement method Cash settlement in PLN (after the last trading day)

Trading calendar for WIG40 futures and stock futures

1 2 3 4 5 6 7 8 9 10 11 12

March

June

September

December

March

June

September

195

Fact Book 2013

Futures contracts (total)2012 2011 2010 2009 2008

Continuous trading Total turnover value (PLN million) 207 477 353 124 330 472 254 550 303 423Average turnover value per session (PLN thousand) 833 240 1 406 869 1 306 212 1 010 119 1 208 857Total volume (thousand) 10 212 14 280 13 614 13 225 12 085Average volume per session 41 013 56 891 53 809 52 480 48 148Number of transactions per session 12 196 17 487 14 413 16 916 15 785Open interest (at year-end) 122 749 115 275 124 504 110 199 73 475Number of series (at year-end) 91 79 55 37 40Block trades Total turnover value (PLN million) 8 959 8 541 10 177 4 134 3 325Total volume 380 198 329 405 395 461 199 552 148 690Number of transactions 596 620 786 405 308

WIG20 futures2012 2011 2010 2009 2008

Continuous trading Total turnover value (PLN million) 198 406 338 257 323 673 246 656 297 577Average turnover value per session (PLN thousand) 796 811 1 347 638 1 279 340 978 794 1 185 565Total volume (thousand) 8 697 13 313 13 086 12 567 11 600Average volume per session 34 927 53 040 51 724 49 871 46 214Number of transactions per session 10 014 14 786 13 026 15 172 14 497Open interest (at year-end) 89 858 104 924 114 019 101 122 68 334Liquidity ratio (%) 132.8 176.2 212.9 198.5 237.6Number of series (at year-end) 4 4 4 4 4Block tradesTotal turnover value (PLN million) 8 959 8 535 10 177 4 119 3 303Total volume 380 198 329 205 395 461 199 022 143 520Number of transactions 596 619 786 403 304

mWIG40 futures2012 2011 2010 2009 2008

Continuous tradingTotal turnover value (PLN million) 335 767 834 580 646Average turnover value per session (PLN thousand) 1 346 3 057 3 297 2 302 2 572Total volume (thousand) 14 29 33 30 25Average volume per session 56 116 130 120 101Number of transactions per session 49 94 108 100 88Open interest (at year-end) 564 530 801 898 446Liquidity ratio (%) 1.5 2.4 3.5 3.5 4.1Number of series (at year-end) 3 3 3 3 3Block tradesTotal turnover value (PLN million) --- 6 --- --- ---Total volume --- 200 --- --- ---Number of transactions --- 1 --- --- ---

Futures contracts – key figures

196

WSE Main list

Stock futures2012 2011 2010 2009 2008

Continuous trading Total turnover value (PLN million) 3 336 7 453 2 108 1 435 1 574Average turnover value per session (PLN thousand) 13 396 29 695 8 331 5 693 6 272Total volume (thousand) 540 738 375 466 326Average volume per session 2 170 2 939 1 484 1 848 1 301Number of transactions per session 1 252 2 053 942 1 179 921Open interest (at year-end) 8 197 6 545 7 735 6 315 2 626Liquidity ratio (%) 2.2 3.9 1.5 1.5 1.6Number of series (at year-end) 66 54 30 18 18Block tradesTotal turnover value (PLN million) --- --- --- --- 21Total volume --- --- --- --- 5 170Number of transactions --- --- --- --- 4

CHF futures2012 2011 2010 2009 2008

Total turnover value (PLN million) 190 2 540 232 280 140Average turnover value per session (PLN thousand) 765 10 120 916 1 111 2 224Total volume (thousand) 28 73 8 9 6Average volume per session 114 291 30 37 90Number of transactions per session 24 208 20 25 49Open interest (at year-end) 2 642 813 597 201 153Number of series (at year-end) 6 6 6 4 4

EUR futures2012 2011 2010 2009 2008

Total turnover value (PLN million) 770 926 910 2 607 1 036Average turnover value per session (PLN thousand) 3 093 3 689 3 595 10 346 4 126Total volume (thousand) 111 22 23 59 29Average volume per session 445 87 89 236 114Number of transactions per session 116 59 59 167 41Open interest (at year-end) 8 583 1068 639 957 1 082Number of series (at year-end) 6 6 6 4 4

USD futures2012 2011 2010 2009 2008

Total turnover value (PLN million) 4 439 3 180 2 716 2 992 2 437Average turnover value per session (PLN thousand) 17 828 12 671 10 735 11 874 9 708Total volume (thousand) 822 104 89 93 98Average volume per session 3300 416 351 368 391Number of transactions per session 742 287 258 273 220Open interest (at year-end) 12 905 1 395 713 706 833Number of series (at year-end) 6 6 6 4 4Block tradesTotal turnover value (PLN million) --- --- --- 15 ---Total volume --- --- --- 530 ---Number of transactions --- --- --- 2 ---

* CHF futures have been traded since 30 September 2008.

Futures contracts – key figures (contd.)

197

Fact Book 2013

WIG20 optionsAt the end of 2012 a total of 120 series of op-tions were traded (all of them were WIG20 options). The trading volume for these in-struments reached 715,400. The open inte-rest at the end of 2012 amounted to 14,500.

WIG20 options held the 13th position in 2012 in terms of trading volume among in-dex options in Europe. The WSE offers Eu-ropean style options, which means that they can be exercised only on the expiry date. As is the case with futures, trading in options is supported by market makers: under a con-tract signed with the WSE they are obliged to place their own sell/buy orders in the or-der book. The reference price for options is

the theoretical price calculated according to the Black-Scholes model. Given the nature of the instrument, margins are required only from option writers (those opening short positions). Option buyers do not pay mar-gins.

WIG20 options – key characteristics

Abbreviated name of option

OW20krccc, where: O – type of instrumentk – exercise month code (specified by the WSE)r – last digit of expiry yearccc – exercise price

Multiplier PLN 10 per index point

Option value Product of option price and multiplier

Quotation unit Index points

Expiry months Four nearest months of the following cycle: March, June, September, December

Expiry date The third Friday of the expiry month for the series. If there is no trading session on that date, the last trading session day preceding the third Friday of the expiry month is taken.

Last trading day The same as expiry date

Exercise price Equal to the value of the underlying instrument, with respect to which the settlement balance will be determined taking the multiplier into account

Exercise value Product of exercise price and multiplier

Settlement price Settlement price is determined on the expiry date as the arithmetic mean of all WIG20 values during the last hour of continuous trading and the WIG20 value as determined at the session close, having rejected 5 top and 5 bottom index values

Settlement value Product of settlement price and multiplier

Settlement date First business day following the date on which settlement price is determined


198

WSE Main list

Options – key figures

Options

2012 2011 2010 2009 2008

Continuous trading

Total turnover value (PLN million)* 15 672 21 819 13 653 7 878 8 261


Turnover value by premium (PLN million) 179.47 276.72 158.31 192.09 231.59

Total volume (thousand) 680 064 832 106 546 842 399 708 325 203

Average volume per session 2 731 3 315 2 161 1 586 1 296


Open interest (at year-end) 14 462 17 517 43 583 20 850 6 925

Liquidity ratio (%) 10.49 11.37 8.98 6.34 6.60

Number of series (at year-end) 120 122 106 110 138

Block trades

Total turnover value (PLN million)* 597 1 743 3 234 512 34

Turnover value by premium (PLN million) 10.45 29.70 50.85 9.05 1.08

Volume 35 300 65 695 128 270 21 940 1 380

Number of transactions 99 175 430 65 3

* Value of trading at the closing price of the underlying instrument.

199

Fact Book 2013

MiniWIG20 – index participation units

Acquisition of an index participation unit (IPU) is equivalent to investment in a portfo-lio of shares issued by 20 constituent com-panies of the index. IPUs are priced in PLN, with the price of one unit being equal to 1/10 of the WIG20 value. IPUs offer potential ear-nings to those who expect the value of the index to rise (long position, i.e. purchase of IPUs) as well as those who anticipate a dec-line (short position, i.e. sale of IPUs).

An index participation unit is a financial in-strument representing all constituent shares of an index. In terms of the expected rate of return, the purchase of this instrument is equivalent to a purchase of the constituent shares of an index, without the need to actu-ally buy the specific constituent shares. IPUs traded on the WSE are based on the WIG20, an index which reflects the perfor-mance of 20 largest listed companies.

WIG20 index participation units – key characteristics

Abbreviated IPU name MW20

Underlying instrument WIG20 indexMultiplier PLN 0.1Value of an IPU Multiplier x Value of underlying instrumentQuotation unit PLN per IPULast trading day Penultimate trading day in December 2025. In exceptional cases, the WSE

Management Board may set the last trading day to fall on a different date but must publish such information at least 4 weeks in advance.

Expiry date The date on which the settlement price is determined for the last time. The first day of trading after the last trading day. Fixed on: a) the third Friday of March, June, September or December. If no

session is held on that day, the settlement price is fixed on the last trading date before that third Friday of March, June, September or December;

b) on the expiry date.Settlement price

Settlement price is determined as the arithmetic mean of all WIG20 values during the last hour of continuous trading and the WIG20 value as determined at the session close, having rejected 5 top and 5 bottom index values, multiplied by the multiplier.

Settlement value Equal to the settlement price

IPUs – key figures

2012 2011 2010 2009 2008

Total turnover value (PLN thousand) 6 439 13 043 8 938 8 187 8 730

Average turnover value per session (PLN thousand) 26 52 35 32 35

Total volume (instruments) 28 610 50 040 36 240 42 161 36 327

Average volume per session 115 199 143 167 145


Open interest (at year-end) 10 665 12 385 13 281 13 125 8 823

Number of series (at year-end) 1 1 1 1 1

200

WSE Main list

Rights of IPU holders The holder may exercise IPU and receive a payment from the IPU writer equal to the settlement balance as at the first trading day following the exercise of the IPU

Settlement balance The same as IPU settlement value

Exercise rule As defined by KDPW_CCP. As a result of exercising, the unit holder receives the settlement balance.

Exercise date The date when the unit holder exercises his right or the trading day preceding the expiry date if the unit is not exercised earlier. The unit may be exercised on a trading day preceding each third Friday of March, June, September and December until the expiry date (or on that date). If: a) the day preceding the third Friday of March, June, September or December is not a trading day, the unit may be exercised on the last trading day before that date; b) the third Friday of March, June, September or December is not a trading day, the unit may be exercised on a trading day preceding the last trading day before the third Friday of March, June, September or December.

Settlement date The next business day following the date on which the settlement price is determined


Margin contributedby investor

It is only contributed by investors opening short positions. The minimum volume is defined by KDPW_CCP. An entity which maintains the investor’s account may define a higher margin to be contributed by the investor.

201

Fact Book 2013

202

NewConnect

NewConnect is an alternative trading plat-form organised and run by the Warsaw Stock Exchange. NewConnect was launched on 30 August 2007, joining other European platforms of this kind, such as AIM in Lon-don or First North within the Scandinavian OMX Group. The launch of NewConnect means that companies which do not meet the admission criteria defined for the regu-lated market can still realistically consider a debut on the public market. NewConnect is intended for companies: in their initial phase of growth, building

a track record in business, as well as for market incumbents,

seeking to raise between a few hundred to a few dozen million Polish zlotys,

with potentially high growth dynamics, representing, in particular, innovative sectors,

intending to enter NewConnect as a step towards a flotation on the WSE’s Main List.

The path to NewConnect

The Rules of the Alternative Trading System (ATS) is the core document that regulates the initial public offering of shares on New-Connect.

Only joint stock companies are allowed to bring their shares to NewConnect. This does not mean, however, that organisations with other legal statuses are prevented from holding a NewConnect flotation. However, in this case the owners need to transform their organisation into a Polish joint stock company or form a new joint stock com-pany and contribute the assets of their busi-ness to such a new entity.

Companies which apply for their shares to be traded under the ATS must first sign a contract with an Authorised Adviser i.e. a company which is responsible for their

NewConnect flotation and which subse-quently collaborates with the issuer to en-sure proper adherence to obligations relat-ed to mandatory disclosures.

A company may raise capital through a pri-vate placement (targeted at max. 99 inves-tors) or a public offering (as on the regulated market).

A NewConnect IPO through a private place-ment (a closed offer, targeted exclusively to no more than 99 investors): a resolution is adopted by the General

Meeting regarding a private placement and a NewConnect flotation;

an application is submitted to the Nation-al Depository for Securities for demateri-alisation of shares; the shares are regis-tered at the NDS;

an application is submitted to the WSE re-questing shares to be introduced to New-Connect trading (attachments include an Authorised Adviser-approved informa-tion document);

within seven business days the WSE adopts a decision on bringing the shares into trading (once the relevant resolution has been adopted, the information docu-ment is published on the NewConnect website);

a contract with a Market Maker is execut-ed;

the company effects its IPO on NewCon-nect.

A NewConnect IPO through a public offer-ing: a resolution is adopted by the General

Meeting regarding a public offering and a NewConnect flotation;

a brokerage house and advisers are se-lected;

the relevant public information document (a prospectus or an information memo-randum) is drawn up;

Information about NewConnect

205

Fact Book 2013

the Polish Financial Supervision Author-ity approves the public information docu-ment (a prospectus or an information memorandum);

an application is submitted to the Nation-al Depository for Securities for demateri-alisation of shares; the shares are regis-tered at the NDS;

an application is submitted to the WSE re-questing shares to be introduced to New-Connect trading (attachments include a PFSA-approved prospectus or informa-tion memorandum);

within seven business days the WSE adopts a decision on bringing the shares into trading (once the relevant resolution has been adopted, the information docu-ment is published on the NewConnect website);

a contract with a Market Maker is executed; the company effects its IPO on NewConnect.

NewConnect SegmentsNewConnect LeadNewConnect Lead within NewConnect is a segment for companies with a high potential for a transition to the WSE Main List. The aim of the segment is to distinguish and promote NewConnect leaders, and send a signal to investors about companies which have the potential to advance to the regulated market.

Classification into this segment is based on quantitative and qualitative analysis. Qualita-tive analysis verifies whether the issuer com-plies with the rules and regulations applicable to the Alternative Trading System on NewCon-nect, in particular the issuer’s performance with regard to mandatory disclosures defined in the Rules of the Alternative Trading System. This analysis also checks whether the issuer adheres to corporate governance rules defined in ‘Best Practices for NewConnect Companies’. Quantitative analysis determines market indi-cators for companies for the last six months. Only companies which meet the following cri-teria may be classified into this segment: The issuer’s average capitalisation exceeds

the PLN equivalent of EUR 5 million, and at least 10% of the issuer’s shares are in free float on the classification date;

The average number of transactions in the issuer’s shares exceeded five per a trading

day, or the average turnover value exceed-ed PLN 5,000 per trading day;

During the past six calendar months (includ-ing the month of the periodic verification) transactions involving the issuer’s shares were made on at least a half of trading days applicable to those shares;

The average share price was higher than PLN 0.50 and the average volatility did not exceed 15%;

The issuer’s shares have been quoted on NewConnect for at least 12 calendar months.

A company which is classified into NewCon-nect Lead receives a special marking in WSE news services and is presented separately in quotation tables. The list of companies classi-fied into NC Lead is reviewed once in a quarter of a year.

NewConnect High Liquidity Risk (NC HLR)The NC HLR segment includes companies which are considered to entail a higher liquid-ity risk. Companies are classified to this seg-ment on the basis of their market indices for the last three months. The criterion is defined as the average value of shares in free float not exceeding PLN 1 million during the past three months.

Once a company has been classified into NC HLR, its shares are deleted from NewConnect indices, it receives a special marking in the WSE news services and is presented sepa-rately in quotation tables. The list of compa-nies classified into NC HLR is reviewed once in a quarter of a year.

NewConnect Super High Liquidity Risk (NC SHLR)The NC SHLR segment includes companies which are considered to entail a higher li-quidity risk and, additionally, experience high volatility of their share prices and whose as-sets have been liquidated or a bankruptcy has been announced.

Companies are classified to this segment on the basis of their market indices for the last three months, i.e.: The average value of shares in free float in

the last three months has not exceeded PLN 1 million,

206

NewConnect

The average share price has been lower than PLN 0.10 or the average volatility has exceeded 10%, or

The issuer has been declared bankrupt, or The liquidation of the issuer has been opened.

Once a company has been classified into NC SHLR, its shares are deleted from NewConnect

indices, it receives a special marking in the WSE news services and is presented separate-ly in quotation tables, and its shares are trans-ferred to trading under the single-price system. The list of companies classified into NC SHLR is reviewed once in a quarter of a year.

2012 saw continued growth of NewCon-nect. The market welcomed 89 IPOs, taking the first position in Europe in terms of IPOs on regulated and alternative markets cov-ered by the PwC IPO Watch Europe report for 2012. With 429 companies listed (incl. 8 foreign ones), the capitalisation of NewCon-nect reached PLN 11.1 billion at the end of 2012 r. and was by 30% higher than the re-spective value at the end of 2011.

The total value of trading on NewConnect in 2012 reached PLN 1,303 million and was by 33.4% higher than in 2011. The number of transactions in 2012 totalled 773,800 (which was by 28.6% lower). Meanwhile, according to a study conducted by the WSE, the high-est share in NewConnect trading (as in previ-ous years), belonged to individual investors (73%). The share of domestic institutional investors stood at 17%, whereas foreign in-stitutional investors accounted for 10%.

In 2012 the WSE took steps to ensure a greater degree of transparency and safety of trading on NewConnect. In June 2012 new regulations were introduced, with a more extensive catalogue of mandatory dis-closures and sanctions for non-compliance. More stringent requirements were imposed on Authorised Advisers as regards their the

sharing of knowledge and opinions con-cerning companies’ activities. A special re-porting requirement was introduced in the case of companies which may give rise to concerns regarding the safety of trading.

Additionally, a new segmentation system was launched. Apart from NC Lead, two categories were introduced for companies posing a liquidity risk: NC High Liquidity Risk (companies with free float capitalisa-tion under PLN 1 million) and NC Super High Liquidity Risk (for companies from the HLR segment with an average share price under PLN 0.10 or volatility over 10%.).

The most recent changes concerning New-Connect have been in force since 1 March 2013. Among them is the introduction of a minimum shareholding dispersion criterion applicable to companies which are floated on the market for the first time. Addition-ally, the duration of a relationship with an Authorised Adviser for NewConnect issuers has been extended to three years and the limit of fines imposed on Authorised Advis-ers and non-compliant companies has been elevated.

2012 on NewConnect

207

Fact Book 2013

New companies on NewConnect in 2012

No. Company First quotation* Price of shares / rights to

shares (PDA) at year-end

Change in price since

Issue price Date

Price of shares / rights to

shares (PDA)offering

first quotation

(PLN) (dd.mm) (PLN) (PLN)

1 UBOATLINE 1.00 3.01 0.73 0.95 -5.00 30.14

2 IMS 1.60 4.01 1.07 0.69 -56.88 -35.51

3 SFD 0.14 9.01 0.23 0.24 71.43 4.35

4 SLR 11.50 16.01 17.25 18.20 58.26 5.51

5 TILIA 40.00 17.01 53.00 125.00 212.50 135.85

6 QUART 3.00 19.01 3.90 3.65 21.67 -6.41

7 JANTAR 0.88 31.01 0.65 0.08 -90.91 -87.69

8 5THAVENUE 1.70 1.02 1.70 1.28 -24.71 -24.71

9 MBFACTORY 2.00 2.02 2.40 0.42 -79.00 -82.50

10 M10 0.10 6.02 0.15 0.07 -30.00 -53.33

11 FACHOWCY 1.32 15.02 1.63 0.13 -90.15 -92.02

12 PARTNER 0.14 16.02 0.11 0.11 -21.43 0.00

13 KOPAHAUS 0.70 17.02 0.95 1.20 71.43 26.32

14 PLAYMAKER 0.22 23.02 0.38 0.06 -72.73 -84.21

15 ADUMA 12.00 24.02 14.77 13.83 15.25 -6.36

16 MODECOM 20.00 28.02 16.50 14.00 -30.00 -15.15

17 IMMOFUND 0.35 9.03 0.44 0.14 -60.00 -68.18

18 OPTIZENLB 6.00 13.03 4.80 0.66 -89.00 -86.25

19 FARM51 6.40 14.03 3.78 3.88 -39.38 2.65

20 MODE 1.02 16.03 1.05 1.00 -1.96 -4.76

21 EDISON 1.30 30.03 1.95 3.20 146.15 64.10

22 IU 1.00 3.04 1.69 1.69 69.00 0.00

23 AUTOSPA 10.97 12.04 8.36 6.50 -40.75 -22.25

24 TWIGONET 3.45 13.04 3.68 3.27 -5.22 -11.14

25 LESNERUNO 1.00 23.04 1.13 1.06 6.00 -6.19

26 EONET 11.31 25.04 18.90 11.07 -2.12 -41.43

27 APOLLO 2.00 26.04 1.76 0.07 -96.50 -96.02

28 GMK 10.00 11.05 10.55 5.00 -50.00 -52.61

29 UNITED 0.99 14.05 0.99 0.56 -43.43 -43.43

30 CLOUD 1.20 18.05 1.86 2.20 83.33 18.28

31 FORPOSTA 11.00 22.05 14.60 13.00 18.18 -10.96

32 KKHERBAL 1.20 24.05 2.16 0.81 -32.50 -62.50

33 EKOKOGEN 0.77 25.05 0.80 0.64 -16.88 -20.00

34 INDEXMEDI 3.10 28.05 3.29 3.46 11.61 5.17

35 TRICEPS 2.20 4.06 2.72 2.20 0.00 -19.12

36 ALEJA 0.10 6.06 0.15 0.47 370.00 213.33

208

NewConnect




Issue price Date



first quotation


37 VGROUP 11.00 8.06 14.00 13.58 23.45 -3.00

38 VIVID 0.34 11.06 0.30 0.69 102.94 130.00

39 VENTURION 0.70 12.06 1.25 0.13 -81.43 -89.60

40 KME 0.10 13.06 0.10 0.03 -70.00 -70.00

41 INVENTI 0.54 15.06 0.69 0.89 64.81 28.99

42 OEM 1.00 15.06 1.52 0.53 -47.00 -65.13

43 AEDES 1.42 18.06 1.90 0.60 -57.75 -68.42

44 REKLAPL 0.13 19.06 0.10 0.04 -69.23 -60.00

45 YOURIMAGE 0.65 20.06 0.70 0.42 -35.38 -40.00

46 ADMASSIVE 7.00 21.06 7.80 14.85 112.14 90.38

47 VELTO 0.60 25.06 0.39 0.17 -71.67 -56.41

48 GOLDWYN 0.45 26.06 0.75 0.32 -28.89 -57.33

49 LSTECHHOM 1.25 27.06 1.10 1.14 -8.80 3.64

50 GONTYNIEC 20.00 4.07 21.94 21.80 9.00 -0.64

51 BAUMAL 2.00 5.07 3.00 9.52 376.00 217.33

52 ELEMENTAL 1.57 12.07 2.35 2.50 59.24 6.38

53 COLEOS 1.00 17.07 1.45 2.00 100.00 37.93

54 MOSTALWRO 1.00 18.07 1.42 2.30 130.00 61.97

55 ESPEROTIA 0.45 19.07 0.41 0.12 -73.33 -70.73

56 PILAB 2.00 20.07 3.60 9.40 370.00 161.11

57 FLYPL 0.50 27.07 0.90 2.63 426.00 192.22

58 ELKOPNRG 1.56 27.07 2.67 31.40 1 912.82 1 076.03

59 PLANETSOF 2.00 7.08 2.00 1.20 -40.00 -40.00

60 MADKOM 0.20 9.08 0.27 0.16 -20.00 -40.74

61 MERIT 2.00 22.08 2.80 0.34 -83.00 -87.86

62 LASERMED 1.15 29.08 1.30 1.29 12.17 -0.77

63 STERGAMES 0.60 30.08 1.08 0.56 -6.67 -48.15

64 PRYMUS 2.60 31.08 3.10 1.70 -34.62 -45.16

65 SFKPOLKAP 4.50 31.08 3.80 2.89 -35.78 -23.95

66 EBC 2.00 4.09 1.83 1.08 -46.00 -40.98

67 REVITUM 3.00 5.09 2.20 1.00 -66.67 -54.55

68 PRESTO-PDA 0.15 13.09 0.31 0.20 33.33 -35.48

69 BIOFACTOR 2.20 19.09 2.39 2.20 0.00 -7.95

70 TERMOREX 0.10 24.09 0.15 8.00 7 900.00 5 233.33

71 UNIMOTGAZ 2.85 26.09 3.00 3.00 5.26 0.00

72 ICPGROUP 2.35 27.09 3.39 2.80 19.15 -17.40

New companies on NewConnect in 2012 (contd.)

209

Fact Book 2013




Issue price Date



first quotation


73 WAKEPARK 0.58 28.09 0.25 0.18 -68.97 -28.00

74 ARTBIZNES 1.00 2.10 1.39 1.03 3.00 -25.90

75 TECHMADEX 26.00 4.10 27.95 26.80 3.08 -4.11

76 IBCPOLSKA 5.25 25.10 6.09 3.81 -27.43 -37.44

77 MGAMES 2.00 26.10 2.00 0.31 -84.50 -84.50

78 BBCONSULT 3.00 22.11 3.44 3.77 25.67 9.59

79 JRINVEST 7.00 28.11 7.64 6.90 -1.43 -9.69

80 FHDOM 10.00 29.11 12.40 18.50 85.00 49.19

81 ORPHEE 8.90 3.12 9.78 9.47 6.40 -3.17

82 MGMSYS 1.60 4.12 2.40 1.23 -23.13 -48.75

83 ARI-PDA 0.50 5.12 0.90 0.36 -28.00 -60.00

84 BIOMASS 0.10 7.12 0.18 1.10 1 000.00 511.11

85 PROLOG 10.00 14.12 10.05 8.99 -10.10 -10.55

86 EXAMOBILE 0.90 17.12 1.64 1.22 35.56 -25.61

87 BRASTER 10.00 20.12 14.87 11.00 10.00 -26.03

88 TERMOEXP 4.70 21.12 4.00 3.20 -31.91 -20.00

89 CCS 1.20 28.12 1.20 1.20 0.00 0.00

* Reference price on IPO date, if issuing price not fixed.

NewConnect delistings in 2012

No. CompanySuspension

date (dd.mm.yy)

Last quotation date (dd.mm.yy) Reasons for delisting

1 AVTECH 16.11.11 02.01.12Failure to comply with rules and

regulations guaranteeing the safety of ATS trading

2 MOBRUK 24.04.12 Transfer to WSE Main List

3 TMSBROKER 28.05.12 30.08.12 Abolishment of dematerialisation of shares

4 GREENTECH 01.10.12 Safety of trading

5 F24 01.10.12 Safety of trading

6 TONSILAC 01.10.12 Safety of trading

7 IQMEDICA 5.07.12 19.10.12 Failure to comply with rules and regulations applicable to ATS

8 VOXEL 22.10.12 Transfer to WSE Main List

9 SERENITY 8.10.12 30.10.12 Failure to comply with rules and regulations applicable to ATS

10 OPTONET 10.09.12 19.12.12 Failure to comply with rules and regulations applicable to ATS

New companies on NewConnect in 2012 (contd.)

210

NewConnect

Changes in nominal value on NewConnect in 2012

No. Company

Date of last quotation

before split/ consolidation

(dd.mm)

Date of quotation after split/

consolidation (dd.mm)

Split ratio

Splits

1 POLNOCNR 27.04 30.04 1:2

2 HOTBLOK 22.05 23.05 1:5

3 AITON 17.09 18.09 1:10

4 ELKOPNRG 26.10 29.10 1:500

Consolidations

1 ATSENERGY 27.04 30.04 1:50

2 VENO 18.05 21.05 1:155

3 PCZ 11.06 12.06 1:100

4 CERABUD 28.08 29.08 1:100

5 KUPIEC 24.09 25.09 1:10

6 ALEJA 20.11 21.11 1:10

7 LUG 23.11 26.11 1:25

Changes of company names on NewConnect in 2012

No. Old name Old ticker New name New ticker Change date(dd.mm)

1 FRESH24 F24 F24 F24 5.01

2 EENERGO EEN EASTSIDE ESC 16.02

3 PINOTCARO PCR WEGLOPEX WPX 10.04

4 TELECOMMD TCM OPTIZENLB OPT 9.05

5 INDEXCOP ICI IDH IDH 9.05

6 PRTRADE PTR INVICO IVC 16.05

7 ZAKUPY ZAK B2BPARTNER B2B 26.07

8 GOADVISER GOA LETUS LET 27.08

9 LEGALSTRM LEG PREMETINV PMI 27.08

10 BIOMEDINV BMV ASTORIA ACL 28.08

11 NOVAINV NOV DIGATE DGT 28.08

12 HMSG HMS APIS ASA 30.08

13 VICTORIA VIC 01CYBATON 01C 30.08

14 ADMUSIC AMU ADVERTIGO AVE 31.08

15 APACHEQ APQ VENTURION VIF 7.09

211

Fact Book 2013

No. Old name Old ticker New name New ticker Change date(dd.mm)

16 MWTENIS MWS SILVACG SCG 11.09

17 AUXILIUM AUX ECAUXILUM ECA 11.09

18 GUARDIER GRD APOLLO APC 25.09

19 DRKENDY DRK BOA BOA 18.10

20 BABY BAB GOLDWYN GCL 5.11

21 KINOMANIA KIN IMMOFUND IMF 20.11

22 MICROTECH MIC CUBEITG CTG 14.12

23 4STUDIO 4ST JANTAR JAN 17.12

24 PHOTON PHO PHOENIX PHO 28.12

Trading in shares and rights to shares (PDA) in 2012 (PLN million)

Shares and rights to shares Total

Continuous trading

Single-price system Block trades Other

January 69.6 0.0 6.3 --- 75.9

February 167.0 0.5 12.4 --- 179.9

March 192.7 1.9 29.2 --- 223.9

April 118.4 0.3 14.0 114.1 246.7

May 72.7 0.2 11.0 --- 83.9

June 54.4 0.0 22.9 --- 77.4

July 49.6 0.2 4.2 --- 53.9

August 86.4 0.3 10.2 --- 96.8

September 74.4 0.2 10.0 --- 84.5

October 78.2 1.8 3.9 --- 83.8

November 101.4 1.4 16.6 --- 119.4

December 67.9 1.4 21.5 --- 90.8

Total 1 132.6 8.3 162.0 114.1 1 416.9

212

NewConnect


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


1 ZWG ZWG 208.9 19.07 342.42 400 522 264 801 0.1 1

2 PSWCAPITA PCA 37.7 3.45 111.43 215 252 75 396

3 ATONHT ATO 27.5 2.51 95.35 61 270 55 288

4 INVENTI IVT 16.7 1.52 983.01 141 133 98 379

5 NICOGAMES NGS 15.8 1.45 139.39 1 027 717 42 896

6 DIGATE DGT 15.5 1.42 603.64 345 279 50 291

7 INVISTA INV 15.3 1.40 210.23 110 585 18 86 0.7 4

8 MDEVELOP MDE 15.1 1.38 381.47 300 725 44 280

9 FACHOWCY FAV 14.2 1.30 912.84 207 731 65 326

10 PARTNER PRN 13.8 1.26 772.77 478 000 51 232

11 LESNERUNO LES 13.2 1.21 368.54 67 096 47 170 1.5 4

12 PPG PPG 13.0 1.18 3.26 81 050 23 102

13 MEDICALG MDG 12.4 1.13 8.20 899 13 102 0.2 2

14 VENO VEN 12.2 1.11 3024.87 440 131 47 525 0.2 1

15 PREMETINV PMI 11.9 1.08 570.58 229 148 36 179

16 ONICO ONC 11.6 1.06 52.11 1 879 13 74 0.5 2

17 MGAMES MGS 11.4 1.04 161.09 584 916 213 610

18 BRIJU BRI 11.3 1.03 32.68 3 252 2 37

19 OPENNET OPE 11.2 1.02 812.13 22 700 42 184

20 DTP DTP 11.2 1.02 26.79 5 278 2 11 35.6 13

21 GOLDWYN GCL 10.4 0.95 1057.88 165 822 89 297

22 VOXEL VOX 10.0 0.91 11.56 3 536 16 72 0.8 3

23 MABION MAB 9.5 0.87 33.99 2 593 15 101

24 SERENITY SRT 9.3 0.85 94.36 708 003 28 667

25 TMSBROKER TMS 8.8 0.80 63.89 958 2 21 3.2 1

26 GENERGY GNR 8.7 0.80 44.25 136 927 28 187 3.1 8

27 HURTIMEX HRT 8.5 0.78 214.89 64 426 30 199

28 VEDIA VED 8.1 0.74 57.20 48 735 23 156

29 FLUID FLD 8.1 0.74 228.87 66 835 25 102 0.1 1

30 PLASMA PSM 7.7 0.70 70.03 2 611 7 48 0.7 2

31 AERFINANC AER 7.6 0.70 287.90 89 365 31 192

32 DEPEND DEP 7.6 0.69 295.00 97 567 37 208

Equities by trading value in 2012

213

Fact Book 2013


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


33 11BIT 11B 7.1 0.65 59.54 2 745 20 189 4.3 7

34 PLATIGE PLI 6.4 0.59 16.86 775 2 30

35 SYNEKTIK SNT 6.4 0.58 11.55 1 944 9 73 3.8 4

36 SILVACG SCG 6.2 0.57 422.39 64 546 27 159

37 DENTAMDC DAM 6.1 0.56 12.55 282 383 8 304 0.5 3

38 FUTURIS FUT 6.1 0.56 60.20 377 802 10 146

39 GKSKAT GKS 6.0 0.55 141.82 60 807 28 132

40 TROMEDIA TRO 5.8 0.53 57.12 28 283 10 57 0.7 7

41 LUG LUG 5.6 0.51 478.68 138 386 11 231

42 SMSKREDYT SMS 5.5 0.50 70.66 9 081 15 105

43 SCOPAK SCO 5.2 0.48 36.44 6 659 0 30

44 DAAH DAH 5.2 0.47 6.32 2 577 9 58

45 PRYMUS PRS 5.1 0.47 30.78 33 874 13 82 0.5 3

46 C2A C2A 5.0 0.45 105.04 173 397 19 122

47 WBAY WBY 5.0 0.45 151.77 168 670 21 223

48 PROGRES PRG 4.8 0.44 7.35 1 011 4 37 1.0 2

49 TERMOREX TRR 4.8 0.44 5.41 51 608 18 88

50 AZTEC AZC 4.8 0.43 28.00 3 512 14 133

51 IGORIA IGT 4.7 0.43 187.90 75 464 18 118

52 INTERNITY INT 4.6 0.42 12.32 3 772 2 26 0.5 1

53 ATCCARGO ATA 4.6 0.42 25.04 3 248 4 34 0.2 1

54 MARKA MRK 4.6 0.42 31.11 1 727 4 26 0.3 1

55 SOBET SOB 4.4 0.40 158.35 88 633 13 98

56 FONECO FNE 4.3 0.39 36.78 131 786 12 136 0.1 1

57 BLACKPOIN BPN 4.3 0.39 18.63 8 229 13 81

58 ESOTIQ EAH 4.3 0.39 63.80 587 3 27 6.7 9

59 M10 M10 4.2 0.39 132.82 106 255 16 113

60 BGE BGE 4.2 0.39 386.86 30 315 14 116

61 I3D I3D 4.2 0.38 17.73 5 965 14 99 0.5 4

62 WINDMOBIL WMO 4.1 0.37 23.54 3 092 10 56

63 PGSSOFT PSW 4.0 0.37 16.68 9 843 10 55 0.1 1

64 KOPAHAUS KOP 3.9 0.36 26.51 13 651 2 17 8.9 11


214

NewConnect


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


65 ORPHEE ORP 3.8 0.35 2.99 23 048 65 214 0.9 1

66 TPH TPH 3.8 0.35 4.94 5 829 7 44

67 MTC MTC 3.7 0.33 355.46 98 716 20 140

68 PLANETSOF PSF 3.6 0.33 232.31 23 465 22 108

69 ATSENERGY ATE 3.6 0.33 207.05 153 726 20 475

70 PROXYAD PXY 3.6 0.33 228.06 107 896 14 113

71 ORZLOPONY ORL 3.5 0.32 38.27 5 785 10 94 0.6 3

72 ADASTRA ADA 3.4 0.31 315.34 6 857 15 92

73 STOCKINFO STC 3.4 0.31 191.70 28 575 29 131

74 ELEMENTAL EMT 3.3 0.30 4.71 11 249 12 55

75 SZAR SZR 3.2 0.29 84.23 101 478 15 233

76 MAKORA MRA 3.2 0.29 38.55 66 418 14 107

77 DEMOLEN DEM 3.1 0.28 22.68 1 602 7 57 0.1 1

78 DASE DFG 3.1 0.28 199.06 24 203 15 98

79 EGB EGB 3.1 0.28 15.41 5 460 5 37 0.5 2

80 URLOPYPL URL 3.1 0.28 17.65 297 731 11 378

81 REKLAPL RPL 3.1 0.28 500.10 322 558 19 140

82 BROADGATE BDG 2.9 0.27 30.47 4 786 12 102

83 FARM51 F51 2.8 0.26 71.91 4 044 13 117

84 BLOOBER BLO 2.8 0.26 17.54 938 7 73

85 TELIANI TLV 2.7 0.25 81.52 18 727 16 171

86 FOREVEREN FOR 2.7 0.25 30.84 6 685 13 78 0.5 3

87 RUNICOM RUN 2.7 0.25 23.02 3 861 7 90

88 STERGAMES SGM 2.7 0.24 49.10 30 168 52 206

89 COOLMARK CLM 2.7 0.24 94.76 19 027 5 36

90 CSY CSY 2.6 0.24 25.92 6 693 7 51 0.3 1

91 TELESTR TLS 2.6 0.24 13.82 843 2 21 2.7 7

92 BALTICON BLT 2.6 0.23 49.73 50 926 12 183

93 BIOERG BER 2.6 0.23 45.54 12 534 12 115 0.8 3

94 DXD DXD 2.5 0.23 208.52 15 732 14 82

95 AGROLIGA AGL 2.4 0.22 11.80 146 6 65

96 RAJDY4X4 4X4 2.4 0.22 68.65 5 169 14 96


215

Fact Book 2013


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


97 GCINVEST GCI 2.4 0.22 3.84 3 858 2 11

98 SSI SSI 2.4 0.22 15.77 54 793 10 236

99 HOTBLOK HOT 2.4 0.22 44.74 125 787 12 89

100 EDISON EDN 2.4 0.22 66.59 5 158 10 37

101 NOVIAN NVN 2.4 0.21 12.22 861 686 7 526

102 LZMO LZM 2.3 0.21 13.89 4 482 3 19 0.2 1

103 GRAPHIC GRP 2.3 0.21 208.51 4 928 5 45

104 ARTEFE ART 2.2 0.20 46.66 149 922 7 285

105 COMPRESS COM 2.2 0.20 96.22 19 321 6 64

106 SCANMEDMM SCM 2.2 0.20 17.05 3 483 7 55 0.5 1

107 JANTAR JAN 2.2 0.20 176.21 43 720 13 151

108 PHOENIX PHO 2.2 0.20 9.86 9 107 7 89

109 BPC BPC 2.1 0.19 55.82 93 038 9 83

110 BIOMAXIMA BMX 2.1 0.19 26.28 1 300 7 66 1.6 5

111 RCUNION RCU 2.0 0.19 35.37 9 299 5 90 0.5 3

112 ROTOPINO ROT 2.0 0.18 40.73 3 306 2 55 6.1 3

113 ACREO ACR 1.9 0.18 66.32 4 395 9 87

114 RSY RSY 1.9 0.18 21.53 3 199 5 41

115 GPFCAUSA GPF 1.9 0.18 44.95 265 155 7 300

116 TABLEO TAB 1.9 0.17 137.58 3 868 6 35

117 5THAVENUE 5AH 1.9 0.17 6.78 5 318 4 41 0.2 1

118 IQMEDICA IQM 1.9 0.17 78.32 7 716 8 81

119 IMMOFUND IMF 1.9 0.17 58.58 33 809 12 56

120 REMEDIS REM 1.9 0.17 91.54 25 537 11 118

121 APIS ASA 1.8 0.17 172.93 171 799 10 203

122 EKOPOL EGH 1.8 0.17 38.05 2 119 3 41

123 NANOTEL NAN 1.8 0.17 142.44 4 062 8 81

124 STEMCELLS SCS 1.8 0.17 22.40 4 440 9 52

125 01CYBATON 01C 1.8 0.16 75.21 155 439 7 297

126 BIOMEDLUB BML 1.7 0.16 36.27 1 223 5 36 15.5 7

127 ASTORIA ACL 1.7 0.15 10.04 94 846 6 95

128 ECAUXILUM ECA 1.7 0.15 27.67 2 543 8 79 0.4 2


216

NewConnect


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


129 BALTONA BAL 1.7 0.15 2.15 972 5 19

130 GRODNO GRN 1.6 0.15 30.63 2 829 3 33

131 FORPOSTA FPO 1.6 0.15 26.74 928 1 25

132 FLYPL FLY 1.6 0.15 2.81 5 603 21 133

133 GRJAGUAR GJA 1.6 0.15 186.66 3 073 7 62

134 EPIGON EPI 1.6 0.14 33.31 41 141 4 135

135 IPODS IOD 1.6 0.14 65.67 3 165 10 118

136 OEM OEM 1.6 0.14 319.43 11 908 20 113

137 SPC SPC 1.6 0.14 46.93 30 042 8 73

138 WEEDO WDO 1.6 0.14 37.70 2 733 10 75

139 PLAYMAKER PMK 1.5 0.14 55.19 43 274 11 125

140 LUXIMA LUX 1.5 0.13 49.94 38 071 5 52

141 YELLOWHAT YEL 1.5 0.13 168.73 60 986 6 83

142 LIBERTY LTG 1.5 0.13 144.93 42 848 9 99

143 POLNOCNR PNR 1.5 0.13 46.48 8 177 9 118

144 BUDUS BDS 1.4 0.13 49.18 14 433 8 66 0.6 2

145 INNOGENE IGN 1.4 0.13 20.36 1 899 5 50

146 SMOKESHOP SMK 1.4 0.13 37.93 4 982 9 129

147 UBOATLINE UBT 1.4 0.13 64.82 6 801 8 73

148 DFP DFP 1.4 0.13 87.69 26 740 8 101

149 EMCAPITAL ECP 1.4 0.13 27.74 9 025 4 41

150 BLUETAX BTG 1.4 0.12 66.32 198 691 5 256

151 BAUMAL BAU 1.3 0.12 83.70 1 757 6 68 4.7 11

152 KUPIEC KPC 1.3 0.12 577.70 31 109 8 95

153 PPRICE PPR 1.3 0.12 53.05 42 768 7 64

154 COPERNIC CRS 1.3 0.12 1.75 43 0 13 1.5 1

155 LETUS LET 1.3 0.12 42.06 13 714 8 106 0.1 1

156 PHARMENA PHR 1.3 0.12 1.62 409 1 27

157 ROBINSON RBS 1.3 0.12 50.00 653 5 47

158 CWPE CWP 1.3 0.12 92.03 11 088 8 82

159 TERRA TRA 1.2 0.11 46.34 2 925 8 65

160 VENTUREIN VTI 1.2 0.11 44.70 12 279 6 80


217

Fact Book 2013


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


161 CUBEITG CTG 1.2 0.11 6.24 3 358 4 50 0.9 4

162 GLOBALTR GTR 1.2 0.11 59.90 14 682 7 59 0.5 3

163 LANGLOO LAN 1.2 0.11 67.54 49 157 6 77

164 MBPARTNER MBP 1.2 0.11 60.85 41 543 7 143

165 DIRECTES DES 1.1 0.10 45.41 10 475 5 54

166 MGMSYS MGM 1.1 0.10 54.79 27 584 98 312

167 KKHERBAL KKH 1.1 0.10 40.29 5 580 14 91

168 SARE SAR 1.1 0.10 13.79 1 067 2 34 0.2 1

169 SFD SFD 1.1 0.10 28.51 31 399 3 20

170 KOMFORTKM KKM 1.1 0.10 238.35 101 464 4 102

171 VISION VIV 1.1 0.10 33.40 137 481 5 336

172 AQUAPOZ AQA 1.1 0.10 20.45 521 3 41 0.4 2

173 GENOMED GEN 1.1 0.10 75.47 310 1 13

174 ECOTECH ECO 1.1 0.10 108.61 4 060 3 30

175 DRUKPAK DRU 1.1 0.10 2.04 261 1 16 0.4 1

176 BIOGENED BGD 1.0 0.09 5.05 103 3 37 1.6 2

177 INTWORKS IWS 1.0 0.09 101.44 5 948 8 90

178 GRUPAREC GRC 1.0 0.09 18.74 284 2 42

179 HORTICO HOR 1.0 0.09 5.18 2 325 3 42

180 INBOOK INB 1.0 0.09 21.64 5 266 6 66

181 VIVID VVD 1.0 0.09 6.64 17 867 13 83

182 DOMENOMAN DOA 1.0 0.09 39.39 6 443 3 27 0.2 2

183 INPOINT IPT 1.0 0.09 13.62 2 704 4 31

184 NEMEX NMX 1.0 0.09 149.14 38 527 8 81

185 STARKDEV STR 1.0 0.09 11.29 299 804 7 407

186 EKANCELAR EKA 1.0 0.09 5.13 1 459 4 39

187 EMMERSON EMM 1.0 0.09 22.42 13 721 4 65

188 KOMPLEKS KMS 0.9 0.09 117.64 6 387 5 73

189 MEW MSA 0.9 0.08 7.86 766 4 42

190 SELVITA SLV 0.9 0.08 3.92 948 3 43

191 WESTREAL WRE 0.9 0.08 38.03 3 704 4 26


218

NewConnect


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


192 ADUMA ADU 0.9 0.08 12.69 322 2 21 0.9 1

193 MAXIMUS MAX 0.9 0.08 94.48 22 910 5 130 2.7 11

194 OPTIZENLB OPT 0.9 0.08 26.51 5 054 5 66

195 EUROSNACK ECK 0.9 0.08 48.42 8 064 2 30 2.4 5

196 ORIONINV ORN 0.9 0.08 2.61 113 3 21

197 EXDEBT EXD 0.9 0.08 84.72 12 959 4 55 1.6 1

198 MOSTALWRO MWO 0.9 0.08 1.16 4 146 6 27

199 VELTO VEL 0.9 0.08 65.92 42 595 8 40

200 KLON KLN 0.8 0.08 29.69 7 107 6 90 2.0 2

201 VIAGUARA VGR 0.8 0.08 42.62 119 625 4 188

202 SEVENET SEV 0.8 0.07 13.98 3 748 4 48

203 ERS ERS 0.8 0.07 56.51 5 287 5 56

204 MOTORICUS MTR 0.8 0.07 46.36 5 660 6 96

205 TRICEPS TRC 0.8 0.07 22.52 1 239 11 49

206 APOLONIA APO 0.8 0.07 43.76 12 741 5 50

207 MAKOLAB MLB 0.8 0.07 41.52 2 626 3 43

208 PARTEX PAR 0.8 0.07 191.21 86 192 4 59

209 STIGROUP STI 0.8 0.07 31.46 18 956 6 77

210 HEFAL HEF 0.8 0.07 27.84 4 477 6 90 0.4 2

211 POLMAN PLM 0.8 0.07 23.49 11 667 2 25 0.4 2

212 TAMEX TOS 0.8 0.07 3.09 2 413 1 12

213 XSYSTEM XSM 0.8 0.07 203.35 3 267 5 55

214 DIGITAL DGL 0.8 0.07 11.93 5 434 3 83

215 FITEN FTN 0.8 0.07 1.93 958 2 15 0.1 1

216 PCZ PCZ 0.8 0.07 34.53 5 481 5 71

217 POLFA PLF 0.7 0.07 90.93 1 562 4 43

218 SUNTECH SUN 0.7 0.07 17.82 7 830 3 75

219 CCTOOLS CCT 0.7 0.07 18.87 3 524 4 56

220 INCANA ICA 0.7 0.07 18.60 5 472 2 38

221 MAGNIFICO MGF 0.7 0.07 31.94 4 868 5 69

222 FINHOUSE FIN 0.7 0.07 57.14 2 553 3 41


219

Fact Book 2013


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


223 RUCHCHORZ RCW 0.7 0.07 6.38 2 314 7 75 0.4 3

224 STARFIT SFI 0.7 0.07 33.63 839 4 50

225 ABSINVEST AIN 0.7 0.06 5.47 10 763 3 88

226 AITON AIT 0.7 0.06 22.97 335 3 33 7.7 20

227 ARTNEWMED ANM 0.7 0.06 29.69 11 936 5 64

228 INFOSYS IFS 0.7 0.06 5.16 851 3 36

229 AUTOSPA ASP 0.7 0.06 29.11 515 4 40

230 MODECOM MOD 0.7 0.06 153.43 297 5 47 0.9 3

231 OPTONET OTN 0.7 0.06 79.27 7 585 4 40

232 CLOUD CLD 0.7 0.06 10.12 2 155 2 13

233 VIDIS VDS 0.7 0.06 12.92 1 772 3 33

234 SLR SLR 0.7 0.06 2.82 169 1 14

235 SMT SMT 0.7 0.06 2.11 205 2 33 0.2 1

236 T2INVEST T2I 0.7 0.06 11.66 2 881 3 47

237 EMPORIUM EMR 0.6 0.06 40.43 6 442 3 28

238 GALVO GAL 0.6 0.06 68.45 3 479 2 37 0.1 1

239 GEOINVENT GEO 0.6 0.06 34.58 25 708 4 85

240 ICPD ICD 0.6 0.06 23.77 5 740 3 47

241 KCSP KCS 0.6 0.06 60.22 5 654 5 64

242 CERABUD CER 0.6 0.06 3454.21 86 470 7 226

243 EPICTURES EAP 0.6 0.06 40.17 2 240 5 59 0.1 1

244 EASTSIDE ESC 0.6 0.05 15.72 107 095 4 141

245 INWAZJAPC IPC 0.6 0.05 69.71 26 779 4 53

246 DANKS DNS 0.6 0.05 8.59 1 579 2 42

247 TAXUSFUND TXF 0.6 0.05 26.03 8 489 5 56

248 TONSILAC TAC 0.6 0.05 85.33 99 579 5 131

249 ABEONET ABO 0.6 0.05 59.93 1 444 2 62

250 GWARANT GWR 0.6 0.05 77.46 878 4 40 11.6 7

251 FABRFORMY FFO 0.6 0.05 24.11 4 557 3 71 0.8 1

252 NFPL NFP 0.6 0.05 6.28 1 241 3 40 0.8 3

253 BGSENERGY BGS 0.6 0.05 1.66 1 011 1 21

254 EZO EZO 0.6 0.05 3.41 320 2 50


220

NewConnect


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


255 GOLAB GOL 0.6 0.05 52.83 7 703 3 37

256 INTELIWIS ITL 0.6 0.05 7.96 2 002 4 75

257 MERA MER 0.6 0.05 5.47 1 109 4 114

258 SFKPOLKAP SFK 0.5 0.05 10.84 1 784 9 79

259 XPLUS XPL 0.5 0.05 19.76 13 096 3 53

260 BINARY BHX 0.5 0.05 9.71 1 059 3 64

261 IMS IMS 0.5 0.05 1.46 1 944 3 29

262 BIOMAX BIM 0.5 0.05 9.24 1 484 5 51

263 INWESTPL INW 0.5 0.05 14.83 4 684 2 28

264 M4B M4B 0.5 0.05 27.87 4 724 2 38

265 PILAB PIL 0.5 0.05 19.65 981 2 40 0.2 1

266 ALKAL ALK 0.5 0.04 5.26 749 3 41

267 WDBBU WDB 0.5 0.04 11.94 6 142 3 49

268 POSITIVE POS 0.5 0.04 13.39 1 998 1 47 1.6 3

269 WIERZYCL WRL 0.5 0.04 23.42 24 743 3 79

270 ADMASSIVE AMG 0.5 0.04 18.66 391 5 42 0.1 1

271 DORADCY24 D24 0.5 0.04 9.34 140 271 3 369

272 IDH IDH 0.5 0.04 3.94 126 570 5 205

273 PREMFOOD PFR 0.5 0.04 7.66 1 737 3 30

274 ZOC ZOC 0.5 0.04 22.17 1 699 4 35

275 ELKOPNRG ENR 0.5 0.04 0.00 1 1 8

276 AKCEPTFIN AFC 0.5 0.04 37.52 1 507 1 18

277 READGENE RDG 0.5 0.04 14.14 848 3 52

278 COMPERIA CPL 0.4 0.04 7.55 74 1 35

279 COLEOS CLO 0.4 0.04 0.74 2 401 4 24

280 IPOSA ISA 0.4 0.04 21.16 7 742 5 94

281 SURFLAND SSK 0.4 0.04 15.50 1 613 3 64

282 LSTECHHOM LSH 0.4 0.04 2.30 2 998 8 81

283 MINOX MNX 0.4 0.04 6.42 3 731 2 58

284 QUART QRT 0.4 0.04 6.00 461 1 20

285 STANUSCH STT 0.4 0.04 85.02 843 3 48

286 APS APS 0.4 0.04 10.05 766 2 32


221

Fact Book 2013


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


287 INVESTREM ITX 0.4 0.04 48.28 7 271 2 45

288 MALKOWSKI MMA 0.4 0.04 6.65 2 146 2 54

289 HYDRAPRES HPS 0.4 0.04 2.78 4 018 2 33

290 INVICO IVC 0.4 0.04 5.30 797 1 20

291 IU IUS 0.4 0.04 55.02 1 331 4 40

292 MILKPOL MLP 0.4 0.04 6.15 2 929 2 42

293 MARSOFT MAR 0.4 0.03 48.40 5 690 3 72

294 S4E S4E 0.4 0.03 3.83 259 1 43

295 ALEJA ALS 0.4 0.03 202.29 36 260 11 100

296 GONTYNIEC BRO 0.4 0.03 1.42 136 2 30

297 SAKANA SKN 0.4 0.03 13.48 3 646 2 80

298 WIDOKEN WDK 0.4 0.03 39.07 1 427 1 25

299 EKIOSK EKS 0.4 0.03 26.16 7 289 3 54 0.2 1

300 ESKIMOS ESK 0.4 0.03 15.64 2 919 3 52

301 NOTORIA NTS 0.4 0.03 38.27 351 1 14 0.4 2

302 APOLLO APC 0.3 0.03 112.62 10 996 5 57

303 EMUZYKA EMU 0.3 0.03 4.67 1 410 1 35

304 TILIA TIL 0.3 0.03 5.29 22 2 33 2.2 4

305 8FORMULA 8FO 0.3 0.03 24.26 974 2 34

306 B2BPARTNER B2B 0.3 0.03 6.08 3 562 1 58

307 BOA BOA 0.3 0.03 51.61 4 345 3 31

308 EBC EBC 0.3 0.03 7.59 2 846 6 63

309 EMONT ELM 0.3 0.03 11.67 3 045 1 43

310 ESPEROTIA EEI 0.3 0.03 7.85 15 247 3 32 0.1 1

311 MEDIANPOL MDN 0.3 0.03 57.31 6 191 2 29

312 VENTURION VIF 0.3 0.03 45.34 4 453 8 56

313 EFICOM EFI 0.3 0.03 19.65 2 446 3 47

314 EONET EON 0.3 0.03 1.00 121 2 38

315 MOBINI MOB 0.3 0.03 41.80 671 2 28

316 MORIZON MZN 0.3 0.03 1.81 796 1 13

317 STOPKLA STK 0.3 0.03 5.46 499 2 44

318 WEGLOPEX WPX 0.3 0.03 8.64 6 795 4 48


222

NewConnect


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


319 ALDA ALD 0.3 0.03 41.57 1 078 3 40

320 ALUMAST ALU 0.3 0.03 13.17 1 845 2 55

321 CALESCO CLS 0.3 0.03 92.74 832 1 32

322 WASPOL WAP 0.3 0.03 11.95 1 430 2 40

323 NAVIMORIN NIN 0.3 0.03 2.29 246 2 29

324 NWAI NWA 0.3 0.03 3.07 142 1 24

325 MODE MOE 0.3 0.03 5.05 1 522 3 41

326 TELEMEDPL TMP 0.3 0.03 4.33 268 2 39 0.6 4

327 VERBICOM VRB 0.3 0.03 7.40 1 093 3 52

328 EASYCALL ECL 0.3 0.02 12.14 591 1 38

329 GRUPAHRC HRC 0.3 0.02 48.48 1 947 1 44

330 MERIT MEI 0.3 0.02 23.46 4 361 5 44

331 PREFABET PBB 0.3 0.02 1.78 63 0 9

332 VCP VCP 0.3 0.02 37.71 720 2 59

333 DEKTRA DKR 0.3 0.02 3.17 77 1 26

334 FHDOM FHD 0.3 0.02 0.61 959 10 32

335 SYMBIO SYM 0.3 0.02 9.97 525 2 59

336 ABAK ABK 0.3 0.02 5.43 543 1 22

337 ANALIZY AOL 0.3 0.02 27.71 98 1 26 3.9 7

338 BRASTER BRA 0.3 0.02 0.88 5 412 17 93

339 BUDOSTAL5 BL5 0.3 0.02 31.94 7 634 2 32

340 DOMLEK DLK 0.3 0.02 25.67 41 1 28

341 EUROTAX ETX 0.3 0.02 1.16 232 1 38

342 JDB JDB 0.3 0.02 14.00 13 832 2 69

343 LAURENPES LPS 0.3 0.02 26.28 22 689 2 80

344 POLTRONIC PTN 0.3 0.02 68.86 1 444 1 12 0.5 3

345 ISIAG ISG 0.2 0.02 4.20 842 2 25

346 MONTUHOLD MTH 0.2 0.02 26.66 321 2 65

347 AEDES AED 0.2 0.02 40.51 3 913 4 48 0.5 1

348 VENITI VNT 0.2 0.02 5.65 276 1 28

349 YURECO YCO 0.2 0.02 3.22 819 2 36

350 ASSETUS ASS 0.2 0.02 1.20 108 3 45


223

Fact Book 2013


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


351 BLIRT BLR 0.2 0.02 6.41 441 1 30

352 MOMO MOM 0.2 0.02 21.98 3 531 2 46

353 AGROMA AGM 0.2 0.02 6.43 2 145 1 76

354 EKOBOX EBX 0.2 0.02 4.26 313 2 26

355 MADKOM MAD 0.2 0.02 2.09 8 948 6 61

356 MOBRUK MBR 0.2 0.02 0.60 27 1 10

357 SITE STE 0.2 0.02 8.90 8 762 2 70

358 UNIMOTGAZ UGZ 0.2 0.02 2.87 1 123 6 46

359 ARTBIZNES ABI 0.2 0.02 1.57 2 613 5 31

360 BBCONSULT BBA 0.2 0.02 1.61 2 469 10 69

361 MBFACTORY MBF 0.2 0.02 27.12 3 336 9 73

362 SUNEX SNX 0.2 0.02 7.08 3 444 2 41

363 BIOMASS BEP 0.2 0.02 4.73 16 367 17 101

364 CODEMEDIA COD 0.2 0.02 12.26 25 1 18

365 ACARTUS ACA 0.2 0.02 32.15 3 227 2 34

366 MAXIPIZZA MXP 0.2 0.02 27.72 2 903 1 54

367 MEDIACAP MCP 0.2 0.02 6.97 1 914 2 55 0.1 1

368 EXAMOBILE EXA 0.2 0.02 7.34 15 203 44 170

369 IZOBLOK IZB 0.2 0.02 1.53 25 1 13

370 EKOKOGEN EKG 0.2 0.01 24.96 1 554 1 42 0.7 6

371 GREMPCO GRM 0.2 0.01 11.83 1 341 2 46

372 INDEXMEDI INX 0.2 0.01 16.34 329 2 47

373 ASTRO ASR 0.2 0.01 0.59 235 2 71

374 LASERMED LSR 0.2 0.01 2.11 1 344 3 35

375 LOKATYBUD LBD 0.2 0.01 22.73 1 710 1 36

376 PFH PFH 0.2 0.01 1.41 79 2 15 0.4 1

377 SWISSPSM SWP 0.2 0.01 2.50 409 1 32

378 TECHMADEX TDX 0.2 0.01 1.00 97 3 35

379 AQUABB AQU 0.1 0.01 0.12 57 1 36

380 FININT FIP 0.1 0.01 12.84 340 1 31

381 IBCPOLSKA IBC 0.1 0.01 4.91 584 4 45

382 VGROUP VGS 0.1 0.01 1.88 102 0 24


224

NewConnect


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


383 BPI BPI 0.1 0.01 9.37 1 592 1 28

384 MINERAL MND 0.1 0.01 2.75 637 0 16

385 MPLVERBUM VER 0.1 0.01 11.80 685 2 35

386 ORGANIC ORG 0.1 0.01 0.72 90 1 28

387 POLSKIHR PLH 0.1 0.01 3.28 1 548 2 51

388 RODAN ROD 0.1 0.01 1.07 480 1 22

389 TAXNET TXN 0.1 0.01 18.36 393 1 16

390 AIRMARKET AIR 0.1 0.01 6.11 406 2 51

391 KME KME 0.1 0.01 64.53 28 133 4 59

392 PAKADEMIA PAK 0.1 0.01 1295.31 10 574 2 43

393 GMK GMK 0.1 0.01 1.43 93 1 11

394 IAI IAI 0.1 0.01 11.15 294 1 41

395 JRINVEST JRI 0.1 0.01 1.07 939 3 25

396 WAKEPARK WPK 0.1 0.01 10.58 6 454 8 58

397 BLUMERANG BLU 0.1 0.01 1.08 417 1 35

398 CASPAR CSR 0.1 0.01 1.66 10 0 17

399 ADMIRAL ADM 0.1 0.01 2.50 447 0 23 0.2 2

400 BIOFACTOR BFC 0.1 0.01 1.99 548 3 19

401 F24 F24 0.1 0.01 5.38 6 598 1 31

402 GREENENER GRE 0.1 0.01 23.93 1 810 1 41

403 ONERAY ORI 0.1 0.01 3.34 5 106 1 33

404 SEKA SEA 0.1 0.01 0.67 54 1 26

405 ADVERTIGO AVE 0.1 0.01 5.86 2 059 1 20

406 REVITUM REV 0.1 0.01 6.13 496 2 25

407 SYNKRET SYN 0.1 0.01 0.29 32 1 24

408 WERTHHOLZ WHH 0.1 0.01 0.46 854 1 16

409 WODKAN WOD 0.1 0.01 0.25 51 0 17

410 YOURIMAGE YOU 0.1 0.01 5.97 931 2 17

411 GOTFI GTF 0.1 0.01 0.49 32 1 31

412 KORBANK KOR 0.1 0.01 3.00 233 1 37

413 MPAY MPY 0.1 0.01 0.71 1 273 0 21

414 GPPI GPP 0.1 0.01 10.35 862 0 33


225

Fact Book 2013


Turnover Share in

turnover

Annual turnover

ratio

Average volume

per session


sactions per

session

Average number

of orders per

session

Turnover value

Number of tran-

sactions


415 PROLOG PRL 0.1 0.01 0.60 748 7 45

416 DOBRANASZA DNA 0.1 0.00 2.28 54 0 6

417 GREENTECH GRT 0.1 0.00 31.33 8 168 1 68

418 RICHTER RMS 0.1 0.00 1.27 147 1 34

419 APLINTER API 0.0 0.00 0.32 51 0 20

420 DYWILAN DYW 0.0 0.00 0.36 39 1 26

421 FMOZAROW FMO 0.0 0.00 8.73 10 076 2 21

422 MMCPL MMC 0.0 0.00 1.66 72 0 10

423 MONDAY MDV 0.0 0.00 0.98 29 0 9

424 ROVITA ROV 0.0 0.00 2.32 339 0 29

425 CFBPS CFB 0.0 0.00 0.04 13 1 9

426 DOMEXBUD DMX 0.0 0.00 3.94 65 0 20

427 DOMZDROW DMZ 0.0 0.00 2.37 49 1 25

428 ICMVISION ICM 0.0 0.00 0.70 57 0 7

429 KBJ KBJ 0.0 0.00 0.21 13 0 9

430 RELIGADEV REL 0.0 0.00 8.54 9 218 1 21

431 ICPGROUP ICP 0.0 0.00 0.18 120 1 18

432 ROCCA RCA 0.0 0.00 0.09 36 1 21

433 TELESTO TLO 0.0 0.00 0.23 5 0 13

434 TERMOEXP TME 0.0 0.00 0.15 509 4 43

435 TWIGONET TWI 0.0 0.00 0.22 19 0 2

436 AVTECH AAE 0.0 0.00 0.00 0 0

437 CCS CCS 0.0 0.00 0.02 2 900 7 86


226

NewConnect


Price

Low High Year-end


1 TERMOREX 7900 8587.61 0.15 8.5 8

2 ELKOPNRG 1918.77 2088.38 1111.00 15700.00 31.40

3 BIOMASS 1000.00 1094.69 0.15 1.20 1.10

4 ZWG 430 474.44 0.67 5.65 4.77

5 FLYPL 426 470.23 0.75 10.70 2.63

6 BAUMAL 376.00 416.01 3.00 13.56 9.52

7 GOLDWYN 273.33 304.44 0.13 2.80 0.32

8 PREMETINV 250 280.09 0.07 0.6 0.35

9 TILIA 212.5 238.75 37 125 125

10 PGSSOFT 204.45 230.07 0.86 2.69 2.58

11 MOMO 200 225 0.11 0.40 0.36

12 VIVID 187.5 211.79 0.23 0.95 0.69

13 MEDICALG 158.82 180.57 24.10 76.99 66.00

14 BGE 157.73 179.42 0.03 2.99 2.50

15 EDISON 146.15 166.87 1.55 3.49 3.20

16 MOSTALWRO 130 149.34 1.27 2.33 2.30

17 INVISTA 122.22 141.08 0.25 0.81 0.60

18 KUPIEC 118.57 137.66 0.07 1.76 1.53

19 RAJDY4X4 114.93 133.04 0.68 5.28 1.09

20 ADMASSIVE 112.14 129.96 4.40 16.10 14.85

21 HORTICO 106.86 124.3 1.02 2.48 2.11

22 COLEOS 100 116.83 1.30 2.00 2.00

23 NFPL 88.52 104.38 1.10 2.57 2.30

24 PCZ 85.98 101.7 0.17 52.00 49.92

25 FHDOM 85 100.54 10.60 19.78 18.50

26 CLOUD 83.33 98.71 1.55 3.46 2.20

27 HURTIMEX 71.43 86.11 0.17 0.78 0.36

28 KOPAHAUS 71.43 85.8 0.76 1.53 1.20

29 SFD 71.43 85.8 0.11 0.25 0.24

30 PILAB 70.91 85.27 3.01 9.99 9.40

31 IU 69 83.22 1.22 2.60 1.69

32 GRUPAHRC 66.07 79.96 0.48 0.90 0.83

33 TROMEDIA 65.75 79.67 0.3 1.38 1.21

34 NANOTEL 65.69 79.59 1.25 2.78 2.27

35 INVENTI 64.81 78.58 0.15 2.75 0.89

36 TPH 64.62 78.46 1.09 3.6 2.14

37 POLMAN 63.16 76.98 0.18 0.38 0.31

38 EMCAPITAL 61.02 74.55 0.34 1.35 0.95

39 PLASMA 59.45 72.85 6.00 16.50 14.00

40 ELEMENTAL 59.24 72.6 1.85 3.36 2.50

Equities by rate of return in 2012

227

Fact Book 2013


Price

Low High Year-end


41 ROTOPINO 58.71 72.07 1.43 3.5 2.46

42 IAI 58.12 71.39 1.05 2.26 1.85

43 GOLAB 55.56 68.38 0.08 0.70 0.28

44 TELESTR 54.91 67.93 9.45 15 14.5

45 WODKAN 53.51 66.41 4.57 7.98 6.75

46 MOBINI 50 62.58 0.54 4.90 1.68

47 AGROLIGA 49.36 61.91 40.01 90.00 82.00

48 POLFA 48.76 61.24 0.88 6.30 1.80

49 S4E 48.31 60.77 4.39 7.99 7

50 WINDMOBIL 47.89 60.31 3.69 6.5 6.3

51 SILVACG 46.15 58.5 0.1 0.91 0.19

52 EUROSNACK 45.45 57.7 0.28 0.74 0.48

53 AITON 45.16 57.35 1.81 22.00 1.97

54 DTP 44.26 56.38 5.15 8.90 8.80

55 MAKOLAB 43.15 55.18 0.75 1.68 1.35

56 MABION 42.72 54.71 10.50 18.70 15.00

57 ORIONINV 41.05 52.89 13.12 48.00 27.50

58 ANALIZY 37.97 49.56 8.50 12.50 12.00

59 SEVENET 37.65 49.27 0.55 1.28 1.17

60 DEPEND 36.36 47.79 0.15 0.56 0.30

61 EXAMOBILE 35.56 46.91 1.17 2.21 1.22

62 VERBICOM 33.95 45.21 0.5 1.48 1.29

63 DANKS 33.41 44.64 1.08 1.84 1.30

64 AERFINANC 33.33 44.63 0.16 0.63 0.28

65 NAVIMORIN 33.26 44.44 3.80 6.30 5.73

66 BRIJU 32.11 43.21 10.00 16.50 14.40

67 ADMIRAL 32.00 43.11 0.51 0.99 0.99

68 XSYSTEM 31.46 42.52 0.61 1.6 0.86

69 DOMEXBUD 30.43 41.36 1.00 1.89 1.50

70 ACREO 30.23 41.15 1.11 3.28 1.68

71 INVICO 29.05 39.9 1.48 2.70 1.91

72 GRODNO 26.21 36.8 1.28 3.87 3.04

73 BBCONSULT 25.67 36.23 2.80 3.94 3.77

74 PREMFOOD 25.53 36.09 0.7 2.39 1.18

75 WEGLOPEX 25 35.54 0.12 0.36 0.25

76 COMPERIA 22.12 32.37 14.80 36.00 19.05

77 WEEDO 21.73 31.95 0.51 6.2 2.48

78 QUART 21.67 31.89 3 5.57 3.65

79 SCANMEDMM 21.21 31.4 1.5 4.2 3.2

80 MPAY 20.83 31.12 0.17 0.29 0.29

Equities by rate of return in 2012 (contd.)

228

NewConnect


Price

Low High Year-end


81 LUG 20.65 30.64 0.12 3.96 3.61

82 CFBPS 20.00 30.08 5.00 5.80 5.40

83 MINOX 19.51 29.63 0.35 0.66 0.49

84 FITEN 18.46 28.4 1.95 5.40 2.31

85 ADUMA 15.25 24.93 8.59 17.70 13.83

86 WIDOKEN 15 24.68 0.7 1.35 0.92

87 BPI 14.29 23.99 0.16 0.55 0.40

88 TAXUSFUND 13.64 23.29 0.15 0.49 0.25

89 EPIGON 13.33 22.65 0.12 0.20 0.17

90 EKOPOL 12.96 22.44 2.26 4.40 2.85

91 CUBEITG 12.9 22.41 0.92 2.00 1.40

92 DIGATE 12.5 22.1 0.04 0.48 0.18

93 KKHERBAL 12.5 21.96 0.52 8.40 0.81

94 LASERMED 12.17 21.58 1.02 1.70 1.29

95 LESNERUNO 12.16 21.61 0.22 2.68 1.06

96 INDEXMEDI 11.61 20.99 2.72 4.11 3.46

97 SMT 11.11 20.44 10.85 15.6 13.5

98 YELLOWHAT 11.11 20.1 0.05 0.16 0.1

99 GCINVEST 10.78 20.1 1.54 2.99 2.98

100 EFICOM 10.71 20.03 0.30 0.97 0.62

101 BRASTER 10.00 19.24 10.64 14.88 11.00

102 MARSOFT 9.09 18.27 0.17 0.41 0.24

103 GONTYNIEC 9 18.16 18.01 22.50 21.80

104 8FORMULA 8.70 17.81 0.85 2.07 1.00

105 GWARANT 8.64 17.77 1.47 3.60 3.05

106 ISIAG 7.42 16.46 0.80 2.00 1.29

107 ORPHEE 6.4 15.34 8.92 11.56 9.47

108 COMPRESS 6.25 15.03 0.30 0.75 0.34

109 INTELIWIS 6.25 15.19 0.60 1.70 0.85

110 HYDRAPRES 5.28 14.13 0.32 0.48 0.37

111 UNIMOTGAZ 5.26 14.1 2.3 3.34 3

112 EKOBOX 5.08 13.91 2.30 3.42 2.87

113 CSY 4.95 13.76 0.94 2.20 1.91

114 PLATIGE 4.71 13.51 28.00 40.00 34.45

115 SWISSPSM 4.29 13.06 0.95 2.07 1.7

116 KORBANK 3.91 12.63 0.89 1.58 1.33

117 FININT 3.5 12.2 0.92 2.77 2.30

118 TECHMADEX 3.08 11.74 23.18 30 26.8

119 ARTBIZNES 3.00 11.66 0.80 2.40 1.03

120 INFOSYS 2.61 11.23 1.81 5.70 4.33


229

Fact Book 2013


Price

Low High Year-end


121 NOTORIA 2.27 10.86 2.82 5.00 4.50

122 ICPGROUP 2.19 10.77 2.80 2.80 2.80

123 INBOOK 1.35 9.91 0.55 0.94 0.75

124 BGSENERGY 1.31 9.82 1.91 2.49 2.32

125 PFH 1.14 9.64 5.81 9.30 7.99

126 DEKTRA 0.87 9.34 10.30 16.81 12.46

127 GOTFI 0.74 9.2 7.31 11.40 8.21

128 BALTICON 0.00 8.50 0.11 0.27 0.13

129 BIOFACTOR 0.00 8.39 2.12 2.45 2.20

130 CCS 0.00 8.39 1.20 1.20 1.20

131 GKSKAT 0 8.32 0.15 0.90 0.26

132 GPPI 0 8.39 0.17 0.43 0.30

133 LANGLOO 0 8.29 0.05 0.18 0.08

134 MAXIMUS 0 8.46 0.10 0.22 0.12

135 ONERAY 0 8.85 0.04 0.09 0.05

136 PARTNER 0 8.43 0.07 0.30 0.11

137 TRICEPS 0 8.39 1.51 16.38 2.2

138 ASSETUS -0.57 7.78 1.04 19.30 8.00

139 DRUKPAK -0.77 7.57 13.50 19.40 15.50

140 TAXNET -1.4 6.89 0.9 1.75 1.41

141 JRINVEST -1.43 6.85 4.93 8.30 6.90

142 MODE -1.96 6.28 0.75 1.20 1.00

143 EONET -2.12 6.1 8.00 34.80 11.07

144 SURFLAND -2.13 6.11 0.76 1.5 0.92

145 BIOMAXIMA -2.78 5.39 5.01 9.50 6.30

146 MERA -2.99 5.16 1.74 2.78 1.95

147 GREMPCO -3.39 4.72 0.34 0.72 0.57

148 ESKIMOS -4.18 3.89 0.36 0.68 0.41

149 UBOATLINE -5 3 0.53 1.05 0.95

150 TWIGONET -5.22 2.75 3.27 3.7 3.27

151 AKCEPTFIN -5.71 2.23 0.95 1.30 0.99

152 SYNEKTIK -5.77 2.14 9.46 17 13.39

153 ALEJA -6.00 2.12 0.03 0.69 0.47

154 KOMPLEKS -6.04 1.87 0.27 1.10 0.95

155 STERGAMES -6.67 1.18 0.46 4.22 0.56

156 DOMLEK -7.45 0.33 19.01 32.69 24.48

157 SUNEX -7.69 0 0.16 0.36 0.24

158 SMSKREDYT -8.09 -0.36 1.05 4.14 1.25

159 LSTECHHOM -8.8 -1.13 0.76 1.45 1.14


230

NewConnect


Price

Low High Year-end


160 GEOINVENT -9.09 -1.61 0.07 0.15 0.10

161 DYWILAN -9.32 -1.7 3.99 4.45 3.99

162 RUNICOM -9.68 -2.09 1.3 4.35 2.8

163 TABLEO -9.91 -2.33 1.2 3 2

164 GALVO -9.92 -2.37 0.54 1.90 1.09

165 CALESCO -10.00 -2.44 1.10 2.02 1.35

166 PROLOG -10.1 -2.55 8.99 10.09 8.99

167 FORPOSTA -10.34 -2.81 10.51 14.35 13.00

168 MALKOWSKI -10.38 -2.83 0.40 1.40 0.95

169 ADASTRA -10.84 -3.35 0.88 9.95 2.55

170 ERS -10.91 -3.37 0.36 0.90 0.49

171 DOMZDROW -11.33 -3.89 1.10 1.50 1.33

172 VGROUP -11.82 -4.41 12.5 16.34 13.58

173 AQUABB -11.97 -4.58 8.00 12.50 9.60

174 YURECO -12.2 -4.81 0.77 1.5 1.08

175 EUROTAX -12.23 -4.86 3.04 6.24 3.89

176 11BIT -12.24 -4.87 8.21 14.47 8.60

177 CODEMEDIA -12.48 -5.13 20.00 37.99 28.30

178 IZOBLOK -12.66 -5.33 18.31 35.70 20.00

179 ACARTUS -13.04 -5.76 0.11 0.31 0.20

180 IGORIA -13.33 -6.18 0.12 0.53 0.13

181 BOA -14.29 -7.07 0.12 0.72 0.30

182 AIRMARKET -15.60 -8.51 0.74 1.90 0.92

183 ESOTIQ -15.94 -8.88 22.00 40.00 26.90

184 SMOKESHOP -16.22 -9.13 0.53 1.93 0.62

185 ABAK -16.49 -9.47 1.05 2.08 1.57

186 01CYBATON -16.67 -9.56 0.03 0.07 0.05

187 APIS -16.67 -9.56 0.03 0.07 0.05

188 TELEMEDPL -16.67 -9.67 2.1 6.26 2.3

189 AZTEC -16.82 -9.83 3.40 8.46 5.39

190 KCSP -16.83 -9.83 0.24 0.65 0.57

191 ORZLOPONY -16.83 -9.84 1.40 3.18 1.68

192 EKOKOGEN -16.88 -9.87 0.54 0.84 0.64

193 PROGRES -16.88 -9.89 10 32 13.3

194 SAKANA -17.95 -11.1 0.24 0.6 0.32

195 FINHOUSE -18.33 -11.48 0.60 1.77 0.98

196 POLTRONIC -18.89 -12.07 0.50 1.06 0.73

197 SARE -19.41 -12.64 2.43 5.45 2.45

198 ALKAL -19.64 -12.89 1.96 5.00 2.25


231

Fact Book 2013


Price

Low High Year-end


199 VEDIA -19.7 -12.92 0.4 1 0.53

200 ABSINVEST -20.00 -13.25 0.22 0.34 0.24

201 MADKOM -20 -13.25 0.12 0.34 0.16

202 SEKA -20.75 -14.09 5.9 8.1 6.01

203 SLR -20.84 -14.18 15.22 21.8 18.2

204 EMUZYKA -20.95 -14.3 0.77 1.26 0.83

205 INWESTPL -21.05 -14.42 0.20 0.73 0.30

206 MEDIACAP -21.05 -14.48 0.28 0.79 0.45

207 RODAN -21.05 -14.41 0.85 1.59 0.9

208 MORIZON -21.58 -14.99 1.15 2.00 1.49

209 POLSKIHR -21.62 -15.04 0.23 0.49 0.29

210 VENTUREIN -21.62 -15.04 0.24 0.58 0.29

211 BIOMEDLUB -21.71 -15.13 4.22 9.00 4.94

212 IPOSA -21.74 -15.16 0.12 0.32 0.18

213 READGENE -22.27 -15.74 1 3.1 1.71

214 T2INVEST -22.61 -16.13 0.48 1.75 0.89

215 SYNKRET -23.02 -16.56 6.97 20.35 9.93

216 MGMSYS -23.13 -16.67 1.17 4.69 1.23

217 WERTHHOLZ -23.26 -16.84 0.3 0.46 0.33

218 BIOERG -24.39 -18.04 0.56 1.17 0.62

219 RCUNION -24.39 -18.06 0.62 1.48 0.93

220 MOTORICUS -24.56 -18.28 0.29 0.95 0.43

221 MARKA -24.57 -18.23 5.60 17.00 7.43

222 XPLUS -24.7 -18.31 0.1 0.26 0.11

223 5THAVENUE -24.71 -18.39 0.95 1.87 1.28

224 FMOZAROW -25 -18.7 0.26 0.69 0.45

225 TELESTO -25 -18.7 4 7.2 4.5

226 EKANCELAR -25.09 -18.79 0.85 4.40 2.00

227 EMONT -25.4 -19.07 0.35 0.65 0.47

228 SUNTECH -25.58 -19.4 0.22 0.55 0.32

229 ORGANIC -25.75 -19.52 4.05 9.00 5.94

230 EGB -26 -19.78 1.51 3.45 1.88

231 MEW -26.94 -20.8 2.90 6.30 4.15

232 IBCPOLSKA -27.43 -21.33 3.65 7.60 3.81

233 ECAUXILUM -28.02 -21.98 1.91 3.47 2.25

234 MPLVERBUM -29.25 -23.29 0.46 1.25 0.75

235 ROCCA -29.8 -23.9 1.06 1.51 1.06

236 INNOGENE -29.85 -23.96 1.30 4.78 2.35

237 M10 -30 -23.89 0.05 0.38 0.07


232

NewConnect


Price

Low High Year-end


238 MODECOM -30 -24.12 6.40 20.90 14.00

239 CASPAR -30.23 -24.36 27.91 66.00 27.91

240 WDBBU -30.43 -24.59 0.15 0.51 0.32

241 BLUMERANG -30.97 -25.18 0.70 1.20 0.78

242 INTERNITY -31.05 -25.25 3.80 7.00 3.99

243 TERMOEXP -31.91 -26.19 3.2 5.5 3.2

244 GENOMED -32.16 -26.46 11.92 22.80 13.50

245 VIDIS -32.56 -26.89 0.9 2.3 1.45

246 IPODS -32.66 -27.01 0.86 4.80 1.34

247 INPOINT -32.89 -27.26 0.73 2.50 1.02

248 ARTEFE -33.33 -27.94 0.03 0.08 0.04

249 BLUETAX -33.33 -27.94 0.02 0.04 0.02

250 PAKADEMIA -33.33 -27.82 0.03 4.04 4.00

251 SITE -33.33 -27.94 0.05 0.15 0.06

252 STARKDEV -33.33 -26.47 0.01 0.03 0.01

253 PSWCAPITA -33.62 -28.07 0.46 1.07 0.5

254 MEDIANPOL -34.15 -28.56 0.18 0.49 0.27

255 POLNOCNR -34.29 -28.77 0.43 2.09 0.46

256 ASTRO -34.56 -29.06 1.81 3.99 2.48

257 PRYMUS -34.62 -29.13 1.45 3.88 1.7

258 SPC -34.8 -29.2 0.09 0.39 0.14

259 WIERZYCL -35.19 -29.74 0.04 0.13 0.07

260 YOURIMAGE -35.38 -29.96 0.35 0.81 0.42

261 BLIRT -35.52 -30.09 1.00 3.50 1.87

262 MMCPL -35.76 -30.35 1.99 3.00 2.21

263 SFKPOLKAP -35.78 -30.38 2.72 4.62 2.89

264 FLUID -36.51 -31.14 0.22 1.35 0.40

265 PPG -36.51 -31.14 0.33 0.72 0.40

266 EKIOSK -36.84 -31.4 0.12 0.26 0.12

267 EPICTURES -36.91 -31.6 0.51 2.14 0.94

268 PPRICE -37.5 -32.32 0.07 0.21 0.10

269 M4B -37.78 -32.58 0.25 0.68 0.28

270 ROBINSON -38.5 -33.33 4.5 12.3 6.15

271 PREFABET -38.59 -33.44 15 29.4 19.65

272 ROVITA -39.02 -33.84 0.19 0.44 0.25

273 ICMVISION -39.09 -33.97 1.20 1.93 1.20

274 SSI -39.13 -33.97 0.1 0.26 0.14

275 ONICO -39.17 -34.06 8.80 37.40 11.06

276 CWPE -39.29 -34.23 0.20 0.73 0.34


233

Fact Book 2013


Price

Low High Year-end


277 FARM51 -39.38 -34.28 2.43 5.79 3.88

278 STEMCELLS -39.39 -34.31 0.72 4.05 1.2

279 MILKPOL -39.76 -34.69 0.27 0.89 0.48

280 KME -40 -34.51 0.03 0.06 0.03

281 PLANETSOF -40 -34.96 0.90 2.64 1.20

282 URLOPYPL -40 -34.51 0.03 0.05 0.03

283 KLON -40.38 -35.34 0.23 0.69 0.31

284 AUTOSPA -40.75 -35.77 4.81 10.70 6.50

285 NWAI -40.93 -35.97 4.45 17.85 8.27

286 STANUSCH -40.95 -36 1 2.94 1.24

287 ATCCARGO -41.35 -36.42 3.50 7.70 4.34

288 APS -41.62 -36.72 1.61 3.90 2.18

289 DASE -41.89 -37.01 0.20 0.90 0.43

290 KBJ -42.26 -37.41 3.57 7.59 4.29

291 DFP -42.86 -37.89 0.10 0.33 0.12

292 JDB -42.86 -37.97 0.04 0.11 0.04

293 TELIANI -43.1 -38.31 0.27 0.98 0.33

294 COPERNIC -43.23 -38.46 93.00 150.00 93.00

295 MAXIPIZZA -43.33 -38.59 0.15 0.35 0.17

296 STOCKINFO -43.43 -38.69 0.28 2.7 0.56

297 DOMENOMAN -43.56 -38.83 0.30 1.21 0.57

298 SZAR -43.75 -38.95 0.07 0.22 0.09

299 ADVERTIGO -44.00 -39.22 0.10 0.24 0.14

300 BALTONA -44.16 -39.47 5.28 9.25 5.50

301 ARTNEWMED -44.19 -39.53 0.08 0.43 0.24

302 BLACKPOIN -44.79 -40.15 1.30 4.44 1.49

303 FABRFORMY -44.93 -40.27 0.30 0.84 0.38

304 B2BPARTNER -45.00 -40.40 0.21 0.54 0.22

305 RSY -45.39 -40.8 0.93 4.79 2.25

306 MINERAL -45.45 -40.87 0.49 0.98 0.54

307 DIGITAL -45.59 -41.04 0.33 0.79 0.37

308 VENITI -45.98 -41.44 1.92 6.39 2.89

309 EBC -46 -41.45 0.91 2.35 1.08

310 MAGNIFICO -46.59 -42.07 0.24 1.10 0.47

311 OEM -47 -42.54 0.34 4.40 0.53

312 GRUPAREC -47.26 -42.83 8.38 22.35 10.97

313 ECOTECH -48 -43.64 0.45 1.60 0.65

314 MAKORA -48 -43.64 0.08 0.33 0.13

315 RUCHCHORZ -48 -43.64 0.63 2.09 0.91


234

NewConnect


Price

Low High Year-end


316 SELVITA -49.07 -44.79 2.28 5.5 2.74

317 EASTSIDE -50 -45.96 0.01 0.04 0.02

318 FUTURIS -50 -45.86 0.03 0.10 0.04

319 GMK -50 -45.8 5.00 11.00 5.00

320 NOVIAN -50 -44.44 0.01 0.02 0.01

321 REMEDIS -50 -45.81 0.18 0.45 0.2

322 VISION -50 -46.15 0.01 0.05 0.02

323 ATSENERGY -50.13 -46.04 0.01 0.83 0.17

324 ABEONET -50.46 -46.30 0.58 2.40 0.74

325 STARFIT -51.93 -47.89 1.7 7 2

326 PHOENIX -52.05 -48.03 0.36 1.74 0.70

327 MONTUHOLD -52.55 -48.57 1.60 7.50 2.60

328 I3D -52.87 -48.9 1.39 5.21 1.52

329 PROXYAD -53.33 -49.31 0.05 0.44 0.07

330 MBPARTNER -53.85 -50 0.05 0.19 0.06

331 AGROMA -54.17 -50.32 0.22 0.57 0.22

332 BIOMAX -54.18 -50.34 0.63 2.98 1.15

333 NICOGAMES -54.55 -50.6 0.02 0.11 0.05

334 NEMEX -54.68 -50.96 0.05 0.17 0.06

335 EZO -55.54 -51.81 3.59 11.87 3.97

336 SCOPAK -56.13 -52.44 1.82 4.75 2.04

337 WBAY -56.25 -52.49 0.05 0.34 0.07

338 INCANA -56.36 -52.69 0.21 0.69 0.24

339 IMS -56.88 -53.27 0.69 1.88 0.69

340 DAAH -57.38 -53.8 4.60 18.00 6.99341 AQUAPOZ -57.50 -53.93 4.77 23.50 9.60342 ALUMAST -57.89 -54.36 0.33 1.32 0.48343 LUXIMA -58.18 -54.77 0.05 0.35 0.08344 AEDES -58.33 -54.82 0.30 1.30 0.60345 LZMO -59.34 -55.93 1.46 6.10 2.48346 MBFACTORY -59.62 -56.22 0.30 1.23 0.42347 INTWORKS -59.7 -56.33 0.27 2.30 0.54348 ASTORIA -60.00 -56.51 0.04 0.15 0.05349 IMMOFUND -60 -56.57 0.09 0.55 0.14350 LIBERTY -60 -56.64 0.04 0.30 0.04351 DOBRANASZA -60.77 -57.47 1.96 7.45 2.14352 TERRA -61.75 -58.54 0.57 3.4 0.83353 GREENENER -62.5 -59.3 0.07 0.30 0.09354 RICHTER -62.8 -59.68 0.65 2.25 0.77


235

Fact Book 2013


Price

Low High Year-end


355 HOTBLOK -62.96 -59.93 0.02 0.75 0.04356 CCTOOLS -63.33 -60.25 0.40 2.28 0.44357 BINARY -63.57 -60.51 0.70 5.38 1.96358 FONECO -63.64 -60.64 0.06 0.23 0.08359 DEMOLEN -64.34 -61.34 4.00 15.00 4.60360 EASYCALL -64.58 -61.61 0.70 3.00 0.85361 HEFAL -65.81 -62.93 0.37 1.28 0.40362 DORADCY24 -66.67 -63.24 0.01 0.03 0.01363 GPFCAUSA -66.67 -63.24 0.01 0.05 0.01364 KOMFORTKM -66.67 -63.97 0.01 0.15 0.04365 LAURENPES -66.67 -63.73 0.02 0.10 0.03366 REVITUM -66.67 -63.87 0.96 3.8 1367 SYMBIO -67.07 -64.31 1.2 4.4 1.35368 BIOGENED -67.31 -64.56 17.00 70.00 17.00369 LOKATYBUD -67.39 -64.65 0.14 0.57 0.15370 STOPKLA -68.02 -65.34 1.26 5.03 1.5371 BLOOBER -68.15 -65.47 3.60 21.90 6.53372 MTC -68.97 -66.36 0.07 0.31 0.09373 WAKEPARK -68.97 -66.34 0.15 0.61 0.18374 REKLAPL -69.23 -66.67 0.03 0.15 0.04375 FOREVEREN -69.48 -66.92 0.57 2.50 0.65376 ATONHT -69.78 -67.24 0.47 4.08 0.55377 STIGROUP -70.37 -67.92 0.04 0.36 0.08378 DXD -70.91 -68.48 0.20 1.69 0.21379 DENTAMDC -71.43 -69.09 0.03 0.14 0.04380 VELTO -71.67 -69.29 0.07 0.6 0.17381 PLAYMAKER -72.73 -70.48 0.05 0.45 0.06382 ESPEROTIA -73.33 -71.05 0.11 0.45 0.12383 ZOC -74.23 -72.06 0.4 2.65 0.5384 IDH -75 -72.53 0.01 0.04 0.01385 PHARMENA -75 -72.9 6.09 27.00 6.16386 VIAGUARA -75 -72.53 0.01 0.06 0.01387 LETUS -76.56 -74.6 0.14 0.69 0.15388 EXDEBT -76.67 -74.67 0.07 0.66 0.14389 COOLMARK -76.92 -75 0.12 1.14 0.15390 INVESTREM -76.92 -75.04 0.06 0.31 0.06391 APOLONIA -77.14 -75.25 0.06 0.57 0.08392 GRJAGUAR -77.14 -75.22 0.67 8.50 0.83393 OPENNET -77.44 -75.55 0.45 15.00 2.03


236

NewConnect


Price

Low High Year-end


394 BROADGATE -78.18 -76.35 0.65 3.86 0.84395 GENERGY -78.41 -76.61 0.15 0.89 0.19396 FACHOWCY -78.69 -76.9 0.11 1.24 0.13397 EMMERSON -81.16 -79.58 0.13 0.75 0.13398 VENTURION -81.43 -79.87 0.12 2.16 0.13399 PARTEX -81.82 -80.21 0.02 0.20 0.03400 MERIT -83 -81.58 0.28 3.20 0.34401 VCP -83.53 -82.15 0.44 3.45 0.56402 MGAMES -84.5 -83.19 0.22 2.50 0.31403 APLINTER -85.48 -84.26 0.80 6.60 0.80404 WESTREAL -86.04 -84.87 0.36 4.39 0.67405 SOBET -86.32 -85.17 0.08 1.05 0.13406 ICPD -86.47 -85.35 0.16 1.70 0.23407 ALDA -86.79 -85.68 0.51 7.55 0.70408 TAMEX -87.29 -86.22 0.8 6.47 0.82409 MONDAY -88.02 -87.01 1.61 21.17 2.55410 C2A -88.24 -87.27 0.03 0.85 0.04411 CERABUD -88.40 -87.44 0.01 1.65 0.60412 MDEVELOP -88.46 -87.51 0.04 1.09 0.06413 DIRECTES -88.57 -87.63 0.06 0.87 0.08414 GRAPHIC -88.83 -87.89 0.65 18.00 1.34415 OPTIZENLB -89 -88.07 0.36 6.00 0.66416 BPC -90.00 -89.13 0.04 0.50 0.05417 JANTAR -90.91 -90.16 0.07 0.88 0.08418 RELIGADEV -91.67 -90.81 0.01 0.13 0.01419 GLOBALTR -91.95 -91.27 0.06 1.26 0.07420 VENO -92.36 -91.72 0.01 1.76 0.71421 POSITIVE -94.44 -93.98 0.11 2.40 0.11422 WASPOL -95 -94.58 0.18 4 0.18423 APOLLO -96.50 -96.20 0.04 3.00 0.07424 EMPORIUM -97.66 -97.46 0.05 2.00 0.05425 BUDUS -99.39 -99.34 0.07 20.50 0.10


237

Fact Book 2013

Equities with the highest rates of return in subsequent months of 2012 on NewConnect

Month Equities Return (%)

(PLN) (EUR)

January NOVAINV 143.75 154.97

February MDEVELOP 181.25 189.36

March MWTENIS 208.33 208.68

April EONET 109.55 109.02

May CLOUD 143.33 131.33

June ATSENERGY 209.63 218.06

July FLYPL 266.00 279.71

August ELKOPNRG 421.32 416.00

September BGE 364.71 372.91

October TERMOREX 2857.14 2844.71

November CWPE 230.00 232.02

December BIOMASS 1000.00 1006.56

Dividends paid by NewConnect companies in 2012No. Company General Meeting

date (dd.mm)

Record date (dd.mm)

Dividend per share (PLN)

1 ONICO 5.03 20.03 4.40

2 SPC 16.03 15.06 0.02

3 I3D 28.03 28.06 0.18

4 DANKS 30.03 26.06 0.26

5 DEKTRA 11.04 27.04 1.50

6 APS 9.05 24.05 0.14

7 PHARMENA 14.05 14.06 0.05

8 PGSSOFT 14.05 31.05 0.11

9 CODEMEDIA 15.05 25.06 1.37

10 ORIONINV 22.05 22.08 1.62

11 WODKAN 25.05 23.07 0.14

12 COPERNIC 28.05 8.06 3.00

13 EUROTAX 29.05 11.06 0.56

14 BLACKPOIN 4.06 18.06 0.25

15 GWARANT 12.06 25.07 0.30

16 TMSBROKER 12.06 26.06 0.30

17 AQUABB 14.06 28.06 0.18

18 AITON 15.06 28.06 0.74

19 GRUPAHRC 19.06 2.07 0.01

20 SEKA 19.06 29.06 0.10

21 ANALIZY 20.06 29.06 0.40

22 WIERZYCL 21.06 5.07 0.01

238

NewConnect

No. SharesDate

(dd.mm)

Turnover value (PLN

million)

Turnover volume

(million of shares)

1 ZWG 24.02 9.03 4.90

2 DTP 22.08 8.10 0.91

3 ZWG 12.03 7.56 3.44

4 ZWG 09.03 6.81 3.35

5 ZWG 23.02 6.45 4.35

6 ZWG 02.03 6.41 3.60

7 ZWG 13.03 5.60 2.29

8 ZWG 17.04 5.48 2.55

9 ZWG 08.03 5.37 2.86

10 ZWG 18.04 4.67 1.93

11 SCOPAK 22.08 4.61 1.44

12 BRIJU 18.12 4.60 0.34

13 ZWG 15.03 4.31 1.81

No. SharesDate

(dd.mm)

Turnover value (PLN

million)

Turnover volume

(million of shares)

14 ZWG 14.03 4.26 1.71

15 ZWG 23.03 4.07 1.67

16 ZWG 17.02 3.98 2.90

17 ZWG 27.02 3.87 2.14

18 ZWG 19.04 3.82 1.65

19 PRYMUS 20.12 3.74 2.11

20 ZWG 16.03 3.65 1.55

21 ZWG 30.03 3.44 1.44

22 ZWG 28.03 3.31 1.41

23 ZWG 26.04 3.08 1.26

24 ZWG 26.03 3.00 1.21

25 BRIJU 28.08 2.94 0.20

26 ZWG 20.02 2.87 2.10

Shares and rights to shares (PDA) with highest daily turnover in 2012

No. Company General Meeting date

(dd.mm)

Record date (dd.mm)

Dividend per share (PLN)

23 HYDRAPRES 21.06 20.09 0.01

24 EKOBOX 23.06 9.08 0.30

25 EGB 27.06 6.07 0.10

26 ECAUXILUM 27.06 6.07 0.25

27 EKOPOL 27.06 23.08 0.02

28 INTERNITY 28.06 10.07 0.18

29 ESKIMOS 28.06 16.07 0.03

30 MAKOLAB 29.06 16.07 0.03

31 MILKPOL 29.06 10.07 0.03

32 KOMPLEKS 29.06 16.07 0.03

33 LUG 29.06 28.09 0.01

34 ISIAG 29.06 9.07 0.04

35 PCZ 29.06 31.07 0.10

36 XSYSTEM 30.06 16.07 0.03

37 STARFIT 30.06 25.07 0.10

38 VERBICOM 12.07 1.08 0.01

39 XPLUS 31.07 31.08 0.02

40 GRODNO 27.09 5.11 0.03

* Dividend for foreign companies has been converted at the NBP’s average exchange rate as of the record date.

Dividends paid by NewConnect companies in 2012 (contd.)

239

Fact Book 2013

Shares and rights to shares (PDA) with highest daily turnover in 2012 (contd.)

No. SharesDate

(dd.mm)

Turnover value (PLN

million)

Turnover volume

(million of shares)

27 ZWG 20.04 2.81 1.27

28 KOPAHAUS 22.08 2.73 1.96

29 ZWG 06.03 2.70 1.57

30 FACHOWCY 18.05 2.68 7.02

31 PLATIGE 23.08 2.56 0.07

32 ZWG 21.02 2.45 1.75

33 ZWG 07.03 2.45 1.41

34 TERMOREX 02.10 2.40 2.40

35 ZWG 21.03 2.31 0.97

36 FACHOWCY-PDA 02.03 2.31 3.04

37 ZWG 24.04 2.23 0.97

38 ZWG 02.05 2.18 0.92

39 GCINVEST 23.08 2.17 0.87

40 ZWG 05.03 2.13 1.19

41 PPG 24.04 2.12 3.14

42 ZWG 16.02 1.93 1.54

43 ZWG 30.04 1.90 0.81

44 ALEJA-PDA 14.06 1.89 12.12

45 ZWG 19.03 1.88 0.83

46 ESOTIQ 28.03 1.86 0.06

47 ATONHT 03.04 1.82 0.48

48 ZWG 15.02 1.81 1.61

49 INTERNITY 23.08 1.80 0.41

50 ZWG 17.05 1.79 0.80

51 ZWG 23.04 1.78 0.80

52 ZWG 02.04 1.77 0.73

53 FACHOWCY 03.04 1.72 1.57

54 PPG 23.04 1.71 2.57

55 ZWG 29.03 1.69 0.74

56 ZWG 13.08 1.67 0.59

57 FACHOWCY-PDA 24.02 1.66 1.45

58 ZWG 05.04 1.63 0.72

59 MGAMES 14.11 1.63 2.31

60 NICOGAMES 16.10 1.63 18.42

61 ZWG 10.04 1.61 0.72

62 PLASMA 07.12 1.60 0.11

63 ZWG 25.04 1.59 0.65

No. SharesDate

(dd.mm)

Turnover value (PLN

million)

Turnover volume

(million of shares)

64 PARTNER 16.11 1.57 8.11

65 ZWG 22.03 1.53 0.62

66 PSWCAPITA 30.01 1.49 1.78

67 ZWG 20.03 1.49 0.65

68 MARKA 16.02 1.47 0.13

69 PPG 25.04 1.46 2.15

70 ZWG 07.09 1.43 0.37

71 ZWG 10.05 1.42 0.63

72 FORPOSTA 13.09 1.42 0.11

73 ZWG 11.04 1.41 0.70

74 ZWG 16.05 1.38 0.63

75 FACHOWCY-PDA 17.02 1.38 0.96

76 MEDICALG 12.03 1.37 0.02

77 ZWG 11.05 1.36 0.63

78 INVENTI 09.11 1.36 3.26

79 INVENTI 14.11 1.36 1.13

80 ZWG 27.04 1.34 0.57

81 INVENTI 20.11 1.33 0.83

82 MDEVELOP 29.03 1.32 4.64

83 DTP 18.06 1.30 0.17

84 ALEJA-PDA 28.06 1.28 9.84

85 ZWG 27.03 1.28 0.53

86 INVISTA 30.01 1.26 2.86

87 FACHOWCY-PDA 27.02 1.25 1.25

88 COPERNIC 30.08 1.24 0.01

89 ORPHEE 03.12 1.23 0.12

90 ZWG 02.08 1.22 0.49

91 HURTIMEX 20.01 1.22 2.02

92 11BIT 04.07 1.22 0.13

93 INVENTI 12.11 1.18 1.79

94 PPG 20.04 1.18 1.82

95 ZWG 14.09 1.18 0.28

96 ZWG 03.04 1.17 0.49

97 FACHOWCY-PDA 15.02 1.17 0.65

98 FUTURIS 28.02 1.17 19.11

99 INVENTI 13.11 1.14 1.36

100 ZWG 16.08 1.13 0.34

240

NewConnect


Turnover value

Share in turnover

Annual turnover

ratio

Average volume

per session

Average number of

transac-tions

per session

Average number

of orders per

session

Turnover value

Number of transac-

tions

(PLN million) (%) (%) (equities) (PLN million)

1 FACHOWCY-PDA FAVA 17.0 37.33 1690.33 602 769 203 534 - -

2 ALEJA-PDA ALSA 8.9 19.52 822.93 878 410 60 255 - -

3 PRESTO-PDA PSTA 5.8 12.73 510.46 279 704 39 123 - -

4 ARI-PDA ARIA 2.5 5.54 408.22 279 497 156 461 - -

5 MBFACTORY-PDA MBFA 2.0 4.40 679.71 10 095 26 127 - -

6 NICOGAMES-PDA NGSA 1.8 3.91 74.71 975 105 44 205 - -

7 WEEDO-PDA WDOA 0.9 2.00 198.09 8 946 18 102 - -

8 DXD-PDA DXDA 0.8 1.85 63.28 12 203 10 62 - -

9 KME-PDA KMEA 0.8 1.71 208.02 238 679 28 143 - -

10 INWAZJAPC-PDA IPCA 0.7 1.52 49.61 38 848 6 41 - -

11 SLR-PDA SLRA 0.7 1.49 47.86 1 126 16 80 - -

12 PILAB-PDA PILA 0.6 1.34 76.64 5 748 22 108 - -

13 KKHERBAL-PDA KKHA 0.5 1.19 166.31 8 046 21 119 - -

14 STARFIT-PDA SFIA 0.4 0.86 22.03 3 029 17 76 - -

15 PARTNER-PDA PRNA 0.4 0.81 25.77 134 474 18 90 - -

16 SPC-PDA SPCA 0.3 0.75 46.46 12 335 3 27 - -

17 VIVID-PDA VVDA 0.3 0.64 12.91 24 693 7 60 - -

18 OPTONET-PDA OTNA 0.2 0.40 113.87 12 653 9 81 - -

19 FOREVEREN-PDA FORA 0.2 0.37 3.42 6 288 10 57 - -

20 ICPGROUP-PDA ICPA 0.1 0.31 23.26 1 124 5 41 - -

21 MEDIANPOL-PDA MDNA 0.1 0.29 27.99 4 402 5 39 - -

22 FORPOSTA-PDA FPOA 0.1 0.22 1.62 335 3 32 - -

23 ZWG-PDA ZWGA 0.1 0.18 2.45 9 795 18 83 - -

24 FMOZAROW-PDA FMOA 0.1 0.15 11.11 706 1 20 - -

25 PINOTCARO-PDA PCRA 0.1 0.11 1.07 1 609 3 33 - -

26 ALDA-PDA ALDA 0.0 0.07 3.54 133 3 26 - -

27 DXD-PDA DXDA 0.0 0.07 12.65 1 840 8 49 - -

30 RELIGADEV-PDA RELA 0.0 0.07 2.20 3 732 2 45 - -

29 AEDES-PDA AEDA 0.0 0.04 2.10 572 2 22 - -

Rights to shares (PDA) by turnover in 2012

241

Fact Book 2013

Rights to shares (PDA) by turnover in 2012 (contd.)No. Company Ticker Order-book trades Block trades

Turnover value

Share in turnover

Annual turnover

ratio

Average volume

per session

Average number of

transac-tions

per session

Average number

of orders per

session

Turnover value

Number of transac-

tions

(PLN million) (%) (%) (equities) (PLN million)

30 SYNKRET-PDA SYNA 0.0 0.04 1.19 224 5 22 - -

31 VENITI-PDA VNTA 0.0 0.04 5.10 282 2 27 - -

32 VGROUP-PDA VGSA 0.0 0.04 0.35 34 1 29 - -

33 F24-PDA F24A 0.0 0.02 0.55 5 227 2 25 - -

34 ALUMAST-PDA ALUA 0.0 0.00 0.04 43 0 21 - -

35 BLIRT-PDA BLRA 0.0 0.00 0.00 0 0 16 - -

36 EASTSIDE-PDA ESCA 0.0 0.00 0.01 92 0 4 - -

37 EUROSNACK-PDA ECKA 0.0 0.00 0.61 400 0 5 - -

38 POSITIVE-PDA POSA 0.0 0.00 0.08 179 0 24 - -

39 VENO-PDA VENA 0.0 0.00 0.06 9 620 1 39 - -

242

NewConnect

No. Company No. of shares (items)

Market value (PLN million)

Market share

(%)

P/BV P/E Dividend yield (%)

Domestic companies

1 PCZ 36 250 000.00 1 809.60 16.75 4.37 154.4 0.3

2 TERMOREX 113 000 000.00 904.00 8.37 73.52 x ---

3 ELKOPNRG 16 250 000.00 510.25 4.72 269.40 x ---

4 DTP 35 714 000.00 314.28 2.91 3.92 37.7 ---

5 ELEMENTAL 103 163 727.00 257.91 2.39 2.28 20.0 ---

6 PPG 619 034 378.00 247.61 2.29 0.72 19.3 ---

7 MEDICALG 3 421 926.00 225.85 2.09 3.16 37.3 ---

8 BIOMEDLUB 38 560 410.00 190.49 1.76 3.90 654.6 ---

9 MOSTALWRO 74 540 776.00 171.44 1.59 3.86 30.7 ---

10 ZWG 28 080 000.00 133.94 1.24 14.73 47.8 ---

11 TILIA 1 000 000.00 125.00 1.16 18.41 x ---

12 AQUABB 12 986 996.00 124.68 1.15 0.36 14.1 1.9

13 PLATIGE 3 182 857.00 109.65 1.01 4.97 x ---

14 FLYPL 41 545 000 109.26 1.01 28.49 x ---

15 COPERNIC 1 155 056 107.42 0.99 2.46 17 3.1

16 CUBEITG 76 704 477 107.39 0.99 1.08 x ---

17 MABION* 6 900 000.00 103.50 0.96 4.87 x ---

18 GCINVEST 32 438 184 96.67 0.89 0.83 3.4 ---

19 SCOPAK 47 350 000 96.59 0.89 2.46 x ---

20 SYNEKTIK* 6 682 000.00 89.47 0.83 6.02 x ---

21 BRIJU 5 978 260 86.09 0.80 3.97 18.8 ---

22 DAAH 10 903 697 76.22 0.71 2.91 60.9 ---

23 COLEOS 37 000 000 74.00 0.68 11.73 x ---

24 SMT 5 369 577 72.49 0.67 5.37 15.4 ---

25 PGSSOFT 27 641 405.00 71.31 0.66 9.99 x 4.3

26 DRUKPAK 4 171 472 64.66 0.60 1.60 15 ---

27 KOPAHAUS 52 495 000.00 62.99 0.58 5.95 16.1 ---

28 TPH 29 400 000.00 62.92 0.58 1.44 8.6 ---

29 BAUMAL 6 600 000.00 62.83 0.58 5.92 4.9 ---

30 BALTONA 11 256 577 61.91 0.57 2.80 x ---

31 STOCKINFO 108 870 000.00 60.97 0.56 287.58 x ---

32 PROGRES* 4 440 000.00 59.05 0.55 2.08 3.6 ---

33 WEGLOPEX 230 000 000.00 57.50 0.53 2.34 x ---

Companies by market value (end of 2012)

243

Fact Book 2013



Market share

(%)


34 SYNKRET 5 620 242.00 55.81 0.52 17.13 x ---

35 FHDOM 3 000 000 55.50 0.51 5.78 x ---

36 EKANCELAR 26 700 000 53.40 0.49 5.65 25.1 ---

37 CASPAR 1 841 577.00 51.40 0.48 5.51 x ---

38 BIOMAX 44 560 000.00 51.24 0.47 3.97 x ---

39 TELESTR* 3 341 895 48.46 0.45 3.80 12.9 ---

40 EMCAPITAL 50 000 000.00 47.50 0.44 5.00 x ---

41 INVISTA 78 971 946.00 47.38 0.44 1.47 x ---

42 CODEMEDIA 1 669 385.00 47.24 0.44 2.32 11.0 4.6

43 ESOTIQ* 1 754 000.00 47.18 0.44 1.90 12.7 ---

44 QUART 12 830 000.00 46.83 0.43 1.68 21.3 ---

45 WINDMOBIL 7 292 245 45.94 0.43 4.20 18 ---

46 CFBPS 8 363 508 45.16 0.42 2.70 30.9 ---

47 PHARMENA 7 036 042.00 43.34 0.40 2.52 37.4 0.7

48 PFH 5 408 325.00 43.21 0.40 2.49 68.8 ---

49 BALTICON 310 500 000 40.37 0.37 0.98 46.9 ---

50 SUNEX 162 332 280.00 38.96 0.36 1.94 53.1 ---

51 ADMIRAL 38 075 060.00 37.69 0.35 3.10 26.8 ---

52 GRODNO 12 300 000.00 37.39 0.35 1.54 11.5 1.0

53 SCANMEDMM 11 500 000 36.80 0.34 0.89 44 ---

54 01CYBATON 717 332 160.00 35.87 0.33 1.10 x ---

55 AUTOSPA 5 408 679 35.16 0.33 3.61 x ---

56 WODKAN 5 118 675.00 34.55 0.32 0.16 31.7 2.1

57 INTERNITY* 8 330 000.00 33.24 0.31 2.40 8.0 4.5

58 RUNICOM 11 675 685.00 32.69 0.30 6.49 x ---

59 FITEN 14 100 000 32.57 0.30 1.29 16.2 ---

60 SLR 1 788 000 32.54 0.30 5.37 22.9 ---

61 PSWCAPITA 60 000 000.00 30.00 0.28 0.52 x 28.9

62 ORIONINV 1 082 312.00 29.76 0.28 1.29 20.5 5.9

63 NFPL 12 767 308.00 29.36 0.27 3.46 13.6 ---

64 TECHMADEX 1 074 700 28.80 0.27 2.84 x ---

65 SELVITA 10 463 566.00 28.67 0.27 3.99 x ---

66 ATCCARGO 6 500 000.00 28.21 0.26 2.62 x ---

67 PLASMA 2 000 000.00 28.00 0.26 1.53 7.3 ---


244

NewConnect



Market share

(%)


68 BRASTER 2 472 291 27.20 0.25 2.93 x ---

69 JRINVEST 3 900 000.00 26.91 0.25 1.25 7.7 ---

70 INVICO 13 751 572.00 26.27 0.24 1.14 28.1 ---

71 LUG 7 198 570.00 25.99 0.24 0.68 6.5 6.9

72 COMPERIA 1 357 084.00 25.85 0.24 7.71 14.8 ---

73 GONTYNIEC 1 178 600.00 25.69 0.24 2.24 16.2 ---

74 DOMLEK 1 040 013.00 25.46 0.24 8.92 909.3 ---

75 EKOBOX 8 826 000.00 25.33 0.23 2.24 12.7 10.5

76 ORGANIC 4 182 326.00 24.84 0.23 1.72 x ---

77 ROTOPINO 10 000 000.00 24.60 0.23 2.04 28.5 ---

78 ASTRO 9 900 000 24.55 0.23 1364.00 x ---

79 EGB 13 054 000.00 24.54 0.23 0.63 4.9 5.3

80 DENTAMDC 611 713 655.00 24.47 0.23 27.96 x ---

81 5THAVENUE 19 060 000 24.40 0.23 2.42 105.2 ---

82 SEKA 4 000 000.00 24.04 0.22 0.94 10.8 1.7

83 WIDOKEN 25 909 133.00 23.84 0.22 0.84 x ---

84 HORTICO 11 184 090.00 23.60 0.22 1.71 16.3 ---

85 IMS 33 115 036.00 22.85 0.21 2.51 19.0 ---

86 EONET 2 059 379 22.80 0.21 2.17 x ---

87 BIOGENED 1 311 555 22.30 0.21 0.88 13.4 ---

88 LZMO 8 930 000.00 22.15 0.21 1.19 x ---

89 DYWILAN 5 284 000.00 21.08 0.20 5.73 x ---

90 INVENTI 23 232 000.00 20.68 0.19 4.97 135.1 ---

91 READGENE 11 790 010.00 20.16 0.19 5.25 x ---

92 ADMASSIVE 1 350 000 20.05 0.19 5.50 16.9 ---

93 AITON 10 122 730 19.94 0.18 3.39 19.2 3.8

94 MERA 10 092 500.00 19.68 0.18 0.36 5.4 ---

95 EUROTAX 5 000 000.00 19.45 0.18 8.20 12.1 14.4

96 BIOMAXIMA 3 040 000.00 19.15 0.18 2.34 22.5 ---

97 11BIT 2 217 199.00 19.07 0.18 3.11 18.0 ---

98 CCS 15 891 000.00 19.07 0.18 2.20 x ---

99 LSTECHHOM 16 700 000.00 19.04 0.18 4.78 x ---

100 FORPOSTA 1 454 546 18.91 0.18 4.17 x ---

101 SMSKREDYT* 15 000 000.00 18.75 0.17 2.77 10.5 ---


245

Fact Book 2013



Market share

(%)


102 EPIGON 108 750 000 18.49 0.17 1.96 5.8 ---

103 AZTEC 3 414 667 18.41 0.17 1.62 18 ---

104 VGROUP 1 341 000.00 18.21 0.17 4.21 41.7 ---

105 ASSETUS 2 250 000.00 18.00 0.17 31.25 x ---

106 GENOMED 1 321 301.00 17.84 0.17 4.25 x ---

107 INFOSYS 4 107 076.00 17.78 0.16 2.22 12.7 ---

108 IDH 1 760 777 268.00 17.61 0.16 0.22 x ---

109 NOVIAN 1 756 161 332.00 17.56 0.16 0.27 x ---

110 GENERGY 92 000 000.00 17.48 0.16 0.44 9.1 ---

111 VIVID 25 300 000 17.46 0.16 3.92 70.7 ---

112 WERTHHOLZ 52 800 000 17.42 0.16 1.31 x ---

113 BGE 6 951 233.00 17.38 0.16 15.96 x ---

114 PREFABET 876 627.00 17.23 0.16 0.61 2.7 ---

115 MARKA 2 314 286.00 17.20 0.16 1.30 10.5 ---

116 PRYMUS 10 000 000.00 17.00 0.16 1.48 6.8 ---

117 MINOX 34 526 451.00 16.92 0.16 0.47 1.6 ---

118 EZO 4 257 777.00 16.90 0.16 2.25 x ---

119 ADUMA 1 206 251 16.68 0.15 4.79 34.8 ---

120 IZOBLOK 828 700.00 16.57 0.15 0.94 23.1 ---

121 MODECOM 1 180 284.00 16.52 0.15 1.04 10.7 ---

122 TROMEDIA 13 650 000.00 16.52 0.15 0.95 6.7 ---

123 BIOMASS 15 000 000 16.50 0.15 11.89 x ---

124 BLACKPOIN 11 000 000.00 16.39 0.15 0.67 4.9 17.1

125 MORIZON 10 948 520.00 16.31 0.15 5.76 x ---

126 TAMEX 19 450 000.00 15.95 0.15 1.14 x ---

127 ANALIZY 1 320 000 15.84 0.15 5.55 15.5 3.3

128 NAVIMORIN 2 727 050.00 15.63 0.14 1.22 x ---

129 NWAI 1 851 500.00 15.31 0.14 2.12 12.6 ---

130 RUCHCHORZ 16 790 701.00 15.28 0.14 57.88 x ---

131 GWARANT 5 000 000.00 15.25 0.14 3.23 8.2 9.8

132 ONICO 1 375 000.00 15.21 0.14 2.53 7.0 39.8

133 ASTORIA 302 077 132 15.10 0.14 0.52 x ---

134 GRUPAREC 1 376 671.00 15.10 0.14 1.08 x ---

135 IAI 8 156 235.00 15.09 0.14 6.11 x ---


246

NewConnect



Market share

(%)


136 ICPGROUP 5 337 468.00 14.94 0.14 8.28 16.6 ---

137 FARM51 3 760 000.00 14.59 0.14 5.23 x ---

138 ADASTRA 5 576 932.00 14.22 0.13 91.16 x ---

139 I3D 9 290 000.00 14.12 0.13 3.52 x 10.9

140 GREMPCO 24 612 300.00 14.03 0.13 0.43 66.5 ---

141 SPC 100 000 000 14.00 0.13 1.21 14.1 2.5

142 BBCONSULT 3 675 000.00 13.85 0.13 3.06 x ---

143 PILAB 1 470 000.00 13.82 0.13 14.33 x ---

144 DEKTRA 1 104 000.00 13.76 0.13 3.25 10.5 12.0

145 CSY 7 200 000.00 13.75 0.13 1.68 16.4 ---

146 GOTFI 1 640 000.00 13.46 0.12 4.07 22.2 ---

147 TELEMEDPL 5 800 000 13.34 0.12 6.10 43.6 ---

148 HYDRAPRES 35 934 992.00 13.30 0.12 0.75 7.7 2.7

149 ORZLOPONY 7 878 888.00 13.24 0.12 1.15 x ---

150 ECAUXILUM 5 881 000 13.23 0.12 0.93 x 11.1

151 SFKPOLKAP 4 550 000.00 13.15 0.12 0.74 11.0 ---

152 STARKDEV 1 300 000 000.00 13.00 0.12 0.80 x ---

153 MPAY 44 800 000.00 12.99 0.12 1.91 x ---

154 RCUNION 13 840 209.00 12.87 0.12 1.79 x ---

155 URLOPYPL 420 000 000 12.60 0.12 0.94 x ---

156 ALKAL 5 547 620.00 12.48 0.12 1.25 7.9 ---

157 SSI 88 500 000.00 12.39 0.11 0.92 4.8 ---

158 INNOGENE 5 202 522.00 12.23 0.11 11.47 x ---

159 S4E 1 737 171.00 12.16 0.11 1.06 4.0 ---

160 ABSINVEST 49 000 000.00 11.76 0.11 0.79 29.0 ---

161 APS 5 296 839 11.55 0.11 1.17 5.9 6.4

162 IBCPOLSKA 3 012 244.00 11.48 0.11 2.81 x ---

163 VEDIA 21 213 393.00 11.24 0.10 1.24 47.2 ---

164 VERBICOM 8 689 996.00 11.21 0.10 2.08 21.1 0.8

165 ROCCA 10 345 000.00 10.97 0.10 6.90 x ---

166 DEMOLEN 2 350 000.00 10.81 0.10 1.02 x ---

167 POLMAN 34 730 250.00 10.77 0.10 1.31 8.0 ---

168 SFD 44 480 000.00 10.68 0.10 0.97 x ---

169 MEW 2 521 093.00 10.46 0.10 3.39 x ---


247

Fact Book 2013



Market share

(%)


170 ARTBIZNES 10 000 000 10.30 0.10 3.01 x ---

171 RODAN 11 162 810.00 10.05 0.09 0.59 53.4 ---

172 ATONHT* 18 202 056.00 10.01 0.09 0.57 x ---

173 NICOGAMES 197 987 341.00 9.90 0.09 0.79 x ---

174 SZAR 110 000 000.00 9.90 0.09 0.60 7.0 ---

175 APIS 195 845 000.00 9.79 0.09 1.10 x ---

176 UNIMOTGAZ 3 203 797.00 9.61 0.09 0.68 7.1 ---

177 MAKOLAB 7 074 730.00 9.55 0.09 2.01 8.6 2.2

178 MOMO 26 000 000.00 9.36 0.09 3.16 x ---

179 FABRFORMY 24 485 020 9.30 0.09 1.04 20 ---

180 PROLOG 1 000 000.00 8.99 0.08 3.03 x ---

181 RAJDY4X4 8 144 695.00 8.88 0.08 1.28 x ---

182 ROBINSON 1 444 642.00 8.88 0.08 1.77 29.9 ---

183 FLUID 21 996 040.00 8.80 0.08 0.36 6.5 ---

184 ISIAG 6 800 000.00 8.77 0.08 2.11 8.9 3.1

185 FONECO 109 000 000.00 8.72 0.08 0.43 x ---

186 BLOOBER 1 330 789 8.69 0.08 1.18 26.9 ---

187 ESKIMOS 20 667 197 8.47 0.08 0.61 13.8 7.3

188 ECOTECH 12 930 687.00 8.40 0.08 0.54 x ---

189 AQUAPOZ 870 000 8.35 0.08 0.72 5 ---

190 RSY 3 700 000.00 8.33 0.08 2.60 93.5 ---

191 DOMEXBUD 5 412 537 8.12 0.08 1.10 x ---

192 BLIRT 4 286 347.00 8.02 0.07 2.66 x ---

193 EASTSIDE 398 038 617 7.96 0.07 0.44 32.5 ---

194 STEMCELLS 6 636 500.00 7.96 0.07 3.20 x ---

195 REMEDIS 39 126 666.00 7.83 0.07 2.02 x ---

196 SEVENET 6 676 533 7.81 0.07 0.75 10.7 ---

197 MALKOWSKI 8 040 400.00 7.64 0.07 0.58 36.7 ---

198 MBPARTNER 126 226 025.00 7.57 0.07 0.38 x ---

199 IU 4 445 000.00 7.51 0.07 4.83 19.5 ---

200 BLUMERANG 9 600 000.00 7.49 0.07 0.54 2.2 ---

201 EKOPOL 2 594 532 7.39 0.07 0.87 x 0.9

202 XPLUS 66 883 012 7.36 0.07 2.10 x 18.1

203 FUTURIS 183 221 537 7.33 0.07 0.47 x ---


248

NewConnect



Market share

(%)


204 CLOUD 3 300 000.00 7.26 0.07 10.87 x ---

205 GRUPAHRC 8 500 000.00 7.06 0.07 5.12 47.7 1.2

206 EUROSNACK 14 668 508.00 7.04 0.07 4.49 x ---

207 SWISSPSM 4 070 895 6.92 0.06 2.50 x ---

208 MOTORICUS 16 040 000.00 6.90 0.06 0.71 22.2 ---

209 LASERMED 5 342 874.00 6.89 0.06 42.81 x ---

210 YURECO 6 323 526.00 6.83 0.06 2.42 189.7 ---

211 KUPIEC 4 414 609.00 6.75 0.06 0.96 11.7 ---

212 DOMZDROW 5 042 332.00 6.71 0.06 0.00 x ---

213 PREMFOOD 5 650 001.00 6.67 0.06 6.97 7.4 ---

214 LOKATYBUD 44 276 975.00 6.64 0.06 0.51 x ---

215 MADKOM 41 490 000.00 6.64 0.06 1.99 x ---

216 BINARY 3 376 321 6.62 0.06 2.20 35.6 ---

217 KBJ 1 540 792.00 6.61 0.06 2.44 x ---

218 PARTNER 60 000 000.00 6.60 0.06 0.99 32.4 ---

219 KORBANK 4 936 620.00 6.57 0.06 1.54 9.5 ---

220 KLON 20 930 000.00 6.49 0.06 0.38 20.0 ---

221 EMUZYKA 7 516 666.00 6.24 0.06 1.84 5.7 ---

222 XSYSTEM 7 200 000 6.19 0.06 1.33 57.3 3.3

223 UBOATLINE 6 502 000.00 6.18 0.06 0.85 10.2 ---

224 CERABUD 10 275 938 6.17 0.06 1.02 x ---

225 INPOINT 6 025 334.00 6.15 0.06 3.54 x ---

226 KOMPLEKS 6 362 000.00 6.04 0.06 0.61 9.4 3.2

227 DANKS 4 577 057.00 5.95 0.06 2.03 4.9 20.0

228 MODE 5 913 218.00 5.91 0.05 11.26 57.4 ---

229 MAKORA 44 900 000.00 5.84 0.05 1.56 x ---

230 MILKPOL 11 853 500.00 5.69 0.05 1.01 70.2 6.3

231 BMMEDICAL 3 140 000 5.65 0.05 1.93 x ---

232 EKOKOGEN 8 820 000 5.64 0.05 5.08 x ---

233 T2INVEST 6 150 000 5.47 0.05 0.27 x ---

234 TAXNET 3 857 765 5.44 0.05 1.31 34.4 ---

235 SARE 2 215 500.00 5.43 0.05 1.86 13.9 ---

236 TABLEO 2 700 000 5.40 0.05 2.01 x ---

237 INTELIWIS 6 258 915.00 5.32 0.05 5.90 x ---


249

Fact Book 2013



Market share

(%)


238 BIOERG 8 500 000 5.27 0.05 4.26 239.5 ---

239 OPENNET 2 584 000.00 5.25 0.05 0.41 655.7 ---

240 WDBBU 16 364 400 5.24 0.05 1.18 4.1 ---

241 POLTRONIC 7 158 000.00 5.23 0.05 1.17 10.0 ---

242 GMK 1 040 100.00 5.20 0.05 11.18 x ---

243 WIERZYCL 74 311 006 5.20 0.05 0.51 6 14.3

244 SUNTECH 15 940 000 5.10 0.05 2.24 x ---

245 MEDIACAP 11 134 880.00 5.01 0.05 1.82 16.0 ---

246 VISION 250 000 000.00 5.00 0.05 0.29 x ---

247 AKCEPTFIN 5 000 000 4.95 0.05 0.68 6.5 ---

248 VIDIS 3 414 131 4.95 0.05 0.89 117.9 ---

249 GRAPHIC 3 588 527.00 4.81 0.04 2.14 x ---

250 FOREVEREN 7 332 235 4.77 0.04 14.80 x ---

251 MGAMES 15 250 000.00 4.73 0.04 2.36 x ---

252 DIGITAL 12 650 027.00 4.68 0.04 0.55 37.1 ---

253 EDISON 1 451 567 4.65 0.04 5.26 x ---

254 INBOOK 6 097 830.00 4.57 0.04 4.39 x ---

255 INDEXMEDI 1 300 000.00 4.50 0.04 1.86 x ---

256 NOTORIA 1 000 000.00 4.50 0.04 2.21 x ---

257 GALVO 4 000 000.00 4.36 0.04 0.48 7.7 ---

258 SOBET 32 962 500.00 4.29 0.04 0.38 x ---

259 BIOFACTOR 1 902 000.00 4.18 0.04 1.17 119.6 ---

260 ADVERTIGO 29 750 000.00 4.17 0.04 1.11 595.0 ---

261 DIGATE 23 131 925.00 4.16 0.04 0.21 x ---

262 MOBINI 2 461 250.00 4.13 0.04 3.98 x ---

263 GKSKAT 15 823 735.00 4.11 0.04 2.09 x ---

264 YELLOWHAT 41 000 000.00 4.10 0.04 0.98 x ---

265 ARTEFE 101 250 000 4.05 0.04 1.11 7.9 ---

266 VENTURION 30 945 000 4.02 0.04 1.46 x ---

267 WESTREAL 6 000 000 4.02 0.04 0.28 3.1 ---

268 KCSP 7 000 000.00 3.99 0.04 6.25 x ---

269 TRICEPS 1 792 500 3.94 0.04 7.22 x ---

270 EMMERSON 30 145 179 3.92 0.04 0.15 x ---

271 WEEDO 1 580 000 3.92 0.04 0.00 x ---


250

NewConnect



Market share

(%)


272 ABAK 2 490 000.00 3.91 0.04 1.97 x ---

273 INVESTREM 64 750 000.00 3.89 0.04 0.41 1.2 ---

274 OPTIZENLB 5 799 419.00 3.83 0.04 1.48 x ---

275 LESNERUNO 3 600 000.00 3.82 0.04 3.46 x ---

276 HURTIMEX 10 465 315.00 3.77 0.03 2.42 7.4 ---

277 DORADCY24 373 985 665 3.74 0.03 2.81 x ---

278 POLSKIHR 12 757 242.00 3.70 0.03 3.09 x ---

279 CALESCO 2 723 471 3.68 0.03 2.74 44.3 ---

280 WBAY 52 500 000.00 3.68 0.03 0.28 x ---

281 VENO 5 140 706 3.65 0.03 0.25 x ---

282 PLANETSOF 3 000 000.00 3.60 0.03 3.73 6.7 ---

283 PREMETINV 10 000 001.00 3.50 0.03 9.00 x ---

284 MGMSYS 2 821 500.00 3.47 0.03 4.76 13.2 ---

285 DEPEND 11 485 000.00 3.45 0.03 1.89 x ---

286 ROVITA 13 637 600.00 3.41 0.03 0.96 x ---

287 STOPKLA 2 275 246.00 3.41 0.03 1.67 x ---

288 AEDES 5 651 430 3.39 0.03 0.69 3 ---

289 DOBRANASZA 1 585 000 3.39 0.03 1695.95 x ---

290 ESPEROTIA 28 123 985 3.37 0.03 1.00 x ---

291 OEM 6 307 000.00 3.34 0.03 3.65 25.7 ---

292 B2BPARTNER 15 090 000.00 3.32 0.03 0.61 x ---

293 BROADGATE 3 941 715 3.31 0.03 0.22 3.3 ---

294 STARFIT 1 653 000 3.31 0.03 2.33 11.1 4.2

295 TERMOEXP 1 035 342.00 3.31 0.03 2.42 8.5 ---

296 EBC 3 000 000.00 3.24 0.03 1.08 x ---

297 VENITI 1 116 000 3.23 0.03 6.14 x ---

298 AGROMA 14 600 000 3.21 0.03 0.87 x ---

299 APLINTER 3 973 600 3.18 0.03 9.81 x ---

300 ATSENERGY 18 487 040 3.14 0.03 0.28 8.7 ---

301 MINERAL 5 769 988.00 3.12 0.03 1.09 9.5 ---

302 SURFLAND 3 361 166.00 3.09 0.03 1.05 x ---

303 EMONT 6 500 000.00 3.06 0.03 0.66 6.9 ---

304 FININT 1 320 062 3.04 0.03 50.60 x ---

305 GOLAB 10 752 000.00 3.01 0.03 1.45 8.6 ---


251

Fact Book 2013



Market share

(%)


306 GREENENER 33 340 000.00 3.00 0.03 1.33 x ---

307 POLNOCNR 6 380 000.00 2.93 0.03 0.32 4.7 ---

308 STERGAMES 5 100 000 2.86 0.03 5.60 x ---

309 HOTBLOK 70 000 000.00 2.80 0.03 0.38 x ---

310 ACREO 1 650 000 2.77 0.03 2.91 13.7 ---

311 FMOZAROW 6 120 250.00 2.75 0.03 1.62 x ---

312 DOMENOMAN 4 770 000 2.72 0.03 0.99 x ---

313 NANOTEL 1 200 000.00 2.72 0.03 1.79 5.9 ---

314 C2A 66 850 000 2.67 0.02 0.23 8 ---

315 EFICOM 4 300 000 2.67 0.02 0.61 x ---

316 TELESTO 590 000.00 2.66 0.02 2.23 2.7 ---

317 INCANA 10 976 800.00 2.63 0.02 0.55 67.5 ---

318 LUXIMA 32 800 000.00 2.62 0.02 0.59 x ---

319 PPRICE 26 000 001.00 2.60 0.02 3.29 x ---

320 HEFAL 6 210 953.00 2.48 0.02 0.47 x ---

321 EXDEBT 17 448 942 2.44 0.02 0.32 x ---

322 ARTNEWMED 10 008 514 2.40 0.02 0.00 x ---

323 BUDOSTAL5 17 061 000 2.39 0.02 0.00 x ---

324 MEDIANPOL 8 865 170.00 2.39 0.02 0.61 x ---

325 MMCPL 1 073 513.00 2.37 0.02 1.91 6.4 ---

326 INWESTPL 7 863 087.00 2.36 0.02 0.77 3.7 ---

327 POSITIVE 20 785 612.00 2.29 0.02 0.00 x ---

328 MAXIMUS 18 750 000.00 2.25 0.02 0.90 54.9 ---

329 RICHTER 2 900 000.00 2.23 0.02 0.00 x ---

330 CWPE 6 510 000.00 2.21 0.02 1.07 x ---

331 EKIOSK 18 090 000 2.17 0.02 1.47 x ---

332 SAKANA 6 733 000.00 2.15 0.02 0.95 9.1 ---

333 ERS 4 318 600 2.12 0.02 1.42 x ---

334 CCTOOLS 4 650 000.00 2.05 0.02 2.20 28.8 ---

335 SMOKESHOP 3 270 500 2.03 0.02 2.82 42.2 ---

336 TAXUSFUND 8 118 950.00 2.03 0.02 1.07 x ---

337 BPC 40 338 000.00 2.02 0.02 0.31 x ---

338 DASE 4 687 500 2.02 0.02 0.94 3 ---

339 MONDAY 788 485.00 2.01 0.02 0.08 x ---


252

NewConnect



Market share

(%)


340 BLUETAX 100 000 000 2.00 0.02 1.82 x ---

341 LAURENPES 66 500 000.00 2.00 0.02 1.57 9.2 ---

342 VENTUREIN 6 840 000 1.98 0.02 0.53 1.1 ---

343 SYMBIO 1 431 323.00 1.93 0.02 0.57 16.2 ---

344 ONERAY 38 098 319.00 1.90 0.02 0.56 x ---

345 TELIANI 5 720 000 1.89 0.02 3.58 x ---

346 JDB 47 000 000.00 1.88 0.02 0.36 10.2 ---

347 STANUSCH 1 497 005 1.86 0.02 2.40 x ---

348 GEOINVENT 18 512 500.00 1.85 0.02 1.33 x ---

349 MPLVERBUM 2 444 444.00 1.83 0.02 0.59 18.9 ---

350 M4B 6 400 000.00 1.79 0.02 0.71 5.7 ---

351 ZOC 3 588 500.00 1.79 0.02 1.36 51.3 ---

352 MAGNIFICO 3 794 593.00 1.78 0.02 1.28 x ---

353 EXAMOBILE 1 450 000 1.77 0.02 5.74 x ---

354 KKHERBAL 2 179 000.00 1.76 0.02 3.46 27.2 ---

355 ALUMAST 3 652 094 1.75 0.02 0.00 x ---

356 SILVACG 9 190 303 1.75 0.02 0.10 x ---

357 YOURIMAGE 4 170 000 1.75 0.02 2.64 67.4 ---

358 IPODS 1 300 000.00 1.74 0.02 0.44 1.0 ---

359 GPPI 5 775 000.00 1.73 0.02 0.47 x ---

360 LANGLOO 21 594 748.00 1.73 0.02 0.79 x ---

361 GPFCAUSA 172 202 995.00 1.72 0.02 0.53 2.4 ---

362 BPI 4 283 500.00 1.71 0.02 0.61 x ---

363 COMPRESS 5 000 000.00 1.70 0.02 1.53 28.8 ---

364 AIRMARKET 1 777 251.00 1.64 0.02 13.86 x ---

365 IPOSA 9 110 000.00 1.64 0.02 0.54 1.0 ---

366 IMMOFUND 11 600 000.00 1.62 0.01 2.22 x ---

367 REKLAPL 40 000 000.00 1.60 0.01 0.49 x ---

368 EPICTURES 1 650 000 1.55 0.01 0.55 18.5 ---

369 PROXYAD 22 139 718.00 1.55 0.01 0.69 x ---

370 ACARTUS 7 499 000 1.50 0.01 1.13 25.9 ---

371 SITE 24 509 564.00 1.47 0.01 0.22 5.3 ---

372 VELTO 8 400 000 1.43 0.01 0.47 x ---

373 JANTAR 17 681 820.00 1.41 0.01 3.31 x ---


253

Fact Book 2013



Market share

(%)


374 APOLLO 20 000 000 1.40 0.01 0.74 x ---

375 DFP 11 697 000.00 1.40 0.01 0.42 x ---

376 FACHOWCY 10 561 185 1.37 0.01 0.25 x ---

377 VCP 2 449 148.00 1.37 0.01 0.62 x ---

378 LETUS 8 890 000.00 1.33 0.01 0.25 x ---

379 8FORMULA 1 300 000.00 1.30 0.01 1.27 x ---

380 IGORIA 10 000 001.00 1.30 0.01 4.92 x ---

381 MARSOFT 5 427 563.00 1.30 0.01 0.78 x ---

382 TERRA 1 571 700.00 1.30 0.01 0.85 7.3 ---

383 REVITUM 1 293 500.00 1.29 0.01 4.13 x ---

384 STIGROUP 16 002 400 1.28 0.01 0.08 x ---

385 M10 18 000 001.00 1.26 0.01 1.11 x ---

386 GLOBALTR 17 253 333 1.21 0.01 0.20 1.3 ---

387 MDEVELOP 19 629 400.00 1.18 0.01 1.17 x ---

388 MTC 12 800 000.00 1.15 0.01 0.09 x ---

389 ALEJA 2 350 000.00 1.10 0.01 0.48 x ---

390 FINHOUSE 1 112 500 1.09 0.01 3.26 47.4 ---

391 EASYCALL 1 211 300.00 1.03 0.01 0.96 x ---

392 GOLDWYN 3 209 610.00 1.03 0.01 1.61 x ---

393 GRJAGUAR 1 213 823.00 1.01 0.01 0.55 37.3 ---

394 PLAYMAKER 16 622 567.00 1.00 0.01 1.59 x ---

395 VIAGUARA 93 770 000 0.94 0.01 0.17 x ---

396 WASPOL 5 179 840 0.93 0.01 0.30 x ---

397 DXD 4 320 000.00 0.91 0.01 0.35 x ---

398 PAKADEMIA 226 845.00 0.91 0.01 0.00 x ---

399 ABEONET 1 200 000 0.89 0.01 1.53 x ---

400 MAXIPIZZA 4 857 588.00 0.83 0.01 0.50 x ---

401 NEMEX 13 630 000.00 0.82 0.01 1.09 x ---

402 ALDA 1 123 600.00 0.79 0.01 0.84 19.7 ---

403 INTWORKS 1 460 000.00 0.79 0.01 2.35 131.4 ---

404 LIBERTY 19 700 000.00 0.79 0.01 0.27 x ---

405 MONTUHOLD 300 000.00 0.78 0.01 0.00 x ---

406 COOLMARK 5 000 000 0.75 0.01 2.26 x ---

407 BUDUS 7 371 763 0.74 0.01 0.05 x ---


254

NewConnect



Market share

(%)


408 KME 24 360 020.00 0.73 0.01 0.28 x ---

409 WAKEPARK 3 781 000.00 0.68 0.01 1.07 x ---

410 MBFACTORY 1 550 000.00 0.65 0.01 15.50 x ---

411 KOMFORTKM 15 980 000.00 0.64 0.01 14.20 x ---

412 BOA 2 096 186 0.63 0.01 1.01 x ---

413 RELIGADEV 63 440 940.00 0.63 0.01 0.12 x ---

414 APOLONIA 7 250 000.00 0.58 0.01 0.46 x ---

415 MERIT 1 654 500.00 0.56 0.01 1.38 x ---

416 DIRECTES 5 743 083.00 0.46 0.00 0.05 x ---

417 PARTEX 11 224 313.00 0.34 0.00 0.82 x ---

418 INWAZJAPC 30 698 500.00 0.31 0.00 0.00 x ---

419 EMPORIUM 3 967 712 0.20 0.00 0.00 x ---

Total domestic companies: 10 804.74 100.00 2.06 x 0.6

Foreign companies

1 ORPHEE 16 600 000.00 157.20 55.59 0.00 x ---

2 TWIGONET 13 021 554.00 42.58 15.06 6.93 x ---

3 BGSENERGY 15 209 000.00 35.28 12.48 1.73 7.3 ---

4 AGROLIGA 307 560.00 25.22 8.92 0.70 1.7 ---

5 PHOENIX 23 000 000.00 16.10 5.69 0.00 x ---

6 AERFINANC 9 129 059.00 2.56 0.91 0.88 1.1 ---

7 ICMVISION 2 031 500.00 2.44 0.86 7.57 x ---

8 ICPD 6 011 476.00 1.38 0.49 0.08 x ---

Total foreign companies: 282.76 100.00 4.19 x ---

* Companies included in NewConnect Lead


255

Fact Book 2013

Pre-emptive rights traded on NewConnect in 2012

No. ISIN Instrument Record date (dd.mm.yyyy)

Ratio per new share

Trading dates (dd.mm.yyyy-dd.mm.yyyy)

1 PLMWTNS00036 MWTENIS-PP 22.11.2011 0.50 19.01.2012 - 23.01.2012

2 PLDDSA000036 DXD-PP 06.02.2012 1.00 07.03.2012 - 13.03.2012

3 PLHMSG000050 HMSG-PP 16.01.2012 4.31 02.04.2012 - 05.04.2012

4 PLEENRG00055 EASTSIDE-PP 01.02.2012 1.00 07.05.2012 - 07.05.2012

5 PLPARTX00036 PARTEX-PP 12.07.2012 1.00 29.08.2012 - 11.09.2012

6 PLPHRMN00029 PHARMENA-PP 06.09.2012 8.00 10.09.2012 - 21.09.2012

7 PLBIOMD00058 ASTORIA-PP 17.12.2012 3.33 19.12.2012 - 08.01.2013

Pre-emptive rights – key figures

2012 2011 2010 2009 2008

Pre-emptive rights

Number of series traded at year-end 1 1 0 0 0

Total turnover for the year (PLN million) 328 2 667 8 826 490 793

Average turnover per session (PLN million) 1.32 10.63 34.89 1.95 3.16


Average value of transaction (PLN) 755 1 437 1 717 740 489

256

NewConnect

NewConnect – shares and rights to shares (PDA) – key figures

2012 2011 2010 2009 2008

Index

NCIndex at year-end 33.26 41.62 63.44 49.70 38.19

NCXLifeSci at year-end 55.23 80.83 98.85 --- ---

Return on NCIndex (%) -20.09 -34.39 27.65 30.14 -73.51

Return on NCXLifeSci (%) -31.67 -18.23 -1.15 --- ---

Companies


of which domestic companies 421 344 182 105 83

of which foreign companies 8 7 3 2 1

Capitalisation at year-end (PLN million) 11 088 8 487 5 138 2 554 1 438

of which domestic companies (PLN million) 10 805 8 384 4 971 2 457 1 396

of which foreign companies (PLN million) 283 104 167 97 41

Average P/E ratio* -357.6 57.5 120.8 x 25.0


Dividend yield at year-end (%)* 0.6 0.4 0.4 0.2 0.1

Turnover value for the year (PLN million) 1 303 1 955 1 847 581 420


Number of transactions per session 3 107 4 312 3 471 1 285 980


Turnover ratio (%)** 1.1 19.9 61.6 42.0 40.1

Number of sessions for the year 249 251 253 252 251

Continuous trading


Number of transactions per session 3 072 4 307 3 449 1 285 980

Total turnover value for the year (PLN million) 1 133 1 858 1 743 540 413

Single-price system


Number of transactions per session 34 4 21 --- ---

Total turnover value for the year (PLN million) 8 1 10 --- ---

Block trades


Average value of transaction (PLN million) 0.59 0.44 0.67 1.06 0.39

Total turnover value for the year (PLN million) 162 96 93.5 41.5 7.5

* Average annual figure for all listed companies. ** For domestic companies.

257

Fact Book 2013

Investors

2012 saw a continuation of trends observed in 2011 with regard to NewConnect inves-tor structure. As in the preceding year, the largest proportion of trading on NewConnect was generated by individual investors whose share of trading in the

market equalled 73%. Domestic financial institutions accounted for 17%, with private companies still playing the main role in this group, accounting for more than a half of the turnover. The share of foreign investors rose from 3% to 10%.

NewConnect investor structure (% share in trading)

Investors 2012 2011 2010 2009 2008

Foreign 10 3 2 2 2

Domestic individual 73 77 87 89 92

Domestic institutional 17 20 11 9 6

Investors’ shares in NewConnect trading in 2012

NewConnect investor structure (% share in trading)

Domestic institutional

Domestic individual

Foreign

73%

17%

10%

258

NewConnect

NewConnect Indices

NCLifeScience in 2012

At the end of 2012 the WSE calculated and published two NewConnect indices: NCIndex and NCLifeScience.

NCIndex is a total return index, with income from dividends and pre-emptive rights be-ing considered in its calculation. The values of NCIndex are published on a continuous basis from the start till the end of the ses-sion, at five-minute intervals. On the base

date, i.e. 30 August 2007, the value of the index was 100 points. The list of index con-stituents is updated on a quarterly basis and companies’ shares in the index are deter-mined on the basis of their respective num-bers of shares in free float. However, the largest companies may account for no more than 10% of the index. The index includes companies which are not classified to HRL or SHLR segments.

32.5318 Dec

43.8320 Feb

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

55

50

45

40

35

30

25

259

Fact Book 2013

NCLifeScience in 2012

NCLifeScience covers shares of companies from the broadly defined life sciences, in particular those which make use of patents related to knowledge of living organisms. The weights of companies in NCLifeScience derive from their respective weights in NCIn-dex and are updated on a quarterly basis. The values of this index are published three times a day: at 11:15 a.m., 3:15 p.m. and at the closing of each session. The index has been published since 20 September 2010. The value of this index on the base date i.e. 30 August 2010 was 100 points. The index includes companies which are not classified to HRL or SHLR segments.

97.558 Feb

55.2328 Dec

Janu

ary

Febr

uary

Mar

ch

April

May

June

July

Augu

st

Sept

embe

r

Octo

ber

Nov

embe

r

Dece

mbe

r

100

90

80

70

60

50

40

260

NewConnect

NCIndex portfolio structure (end of 2012)



Market value

Share in NCIndex

(PLN) (PLN) (%)1 MEDICALG 66.00 1 700 000 112 200 000 6.282 TERMOREX 8.00 11 008 000 88 064 000 4.933 CUBEITG 1.40 50 792 000 71 108 800 3.984 DTP 8.80 7 326 000 64 468 800 3.615 ORPHEE 9.47 6 600 000 62 502 000 3.506 FHDOM 18.50 2 500 000 46 250 000 2.597 PFH 7.99 5 408 000 43 209 920 2.428 BIOMEDLUB 4.94 8 560 000 42 286 400 2.379 ELEMENTAL 2.50 14 900 000 37 250 000 2.08

10 COPERNIC 93.00 390 000 36 270 000 2.0311 SYNEKTIK 13.39 2 431 000 32 551 090 1.8212 PROGRES 13.30 2 252 000 29 951 600 1.6813 MABION 15.00 1 900 000 28 500 000 1.5914 PLATIGE 34.45 766 000 26 388 700 1.4815 GCINVEST 2.98 8 680 000 25 866 400 1.4516 KOPAHAUS 1.20 20 555 000 24 666 000 1.3817 EKANCELAR 2.00 12 000 000 24 000 000 1.3418 ZWG 4.77 4 758 000 22 695 660 1.2719 TELESTR 14.50 1 414 000 20 503 000 1.1520 AQUABB 9.60 2 041 000 19 593 600 1.1021 BRASTER 11.00 1 640 000 18 040 000 1.0122 PPG 0.40 42 697 000 17 078 800 0.9623 DENTAMDC 0.04 391 228 000 15 649 120 0.8824 MOSTALWRO 2.30 6 313 000 14 519 900 0.8125 FLYPL 2.63 5 473 000 14 393 990 0.8126 ATCCARGO 4.34 3 311 000 14 369 740 0.8027 BRIJU 14.40 978 000 14 083 200 0.7928 TILIA 125.00 112 000 14 000 000 0.7829 GONTYNIEC 21.80 612 000 13 341 600 0.7530 PLASMA 14.00 894 000 12 516 000 0.7031 LUG 3.61 3 408 000 12 302 880 0.6932 COLEOS 2.00 6 100 000 12 200 000 0.6833 BALTONA 5.50 2 175 000 11 962 500 0.6734 BAUMAL 9.52 1 200 000 11 424 000 0.6435 DRUKPAK 15.50 721 000 11 175 500 0.6336 NOVIAN 0.01 1 083 832 000 10 838 320 0.6137 IDH 0.01 1 073 059 000 10 730 590 0.6038 ESOTIQ 26.90 397 000 10 679 300 0.6039 11BIT 8.60 1 227 000 10 552 200 0.5940 PGSSOFT 2.58 3 907 000 10 080 060 0.5641 IMS 0.69 14 571 000 10 053 990 0.5642 NFPL 2.30 4 367 000 10 044 100 0.56

261

Fact Book 2013



Market value

Share in NCIndex

(PLN) (PLN) (%)43 PCZ 49.92 197 000 9 834 240 0.5544 PSWCAPITA 0.50 18 900 000 9 450 000 0.5345 NICOGAMES 0.05 187 987 000 9 399 350 0.5346 SCOPAK 2.04 4 550 000 9 282 000 0.5247 ONICO 11.06 825 000 9 124 500 0.5148 FITEN 2.31 3 924 000 9 064 440 0.5149 INTERNITY 3.99 2 241 000 8 941 590 0.5050 SELVITA 2.74 3 221 000 8 825 540 0.4951 BGSENERGY 2.32 3 750 000 8 700 000 0.4952 CFBPS 5.40 1 613 000 8 710 200 0.4953 WINDMOBIL 6.30 1 373 000 8 649 900 0.4854 INVISTA 0.60 13 704 000 8 222 400 0.4655 BIOMAXIMA 6.30 1 280 000 8 064 000 0.4556 JRINVEST 6.90 1 160 000 8 004 000 0.4557 TPH 2.14 3 649 000 7 808 860 0.4458 EMCAPITAL 0.95 8 100 000 7 695 000 0.4359 VEDIA 0.53 13 991 000 7 415 230 0.4260 PREFABET 19.65 363 000 7 132 950 0.4061 PHARMENA 6.16 1 146 000 7 059 360 0.4062 MERA 1.95 3 599 000 7 018 050 0.3963 ATONHT 0.55 12 534 000 6 893 700 0.3964 LZMO 2.48 2 731 000 6 772 880 0.3865 GRODNO 3.04 2 212 000 6 724 480 0.3866 TAMEX 0.82 7 412 000 6 077 840 0.3467 S4E 7.00 860 000 6 020 000 0.3468 ECAUXILUM 2.25 2 644 000 5 949 000 0.3369 FORPOSTA 13.00 455 000 5 915 000 0.3370 ORZLOPONY 1.68 3 365 000 5 653 200 0.3271 SMT 13.50 414 000 5 589 000 0.3172 CASPAR 27.91 199 000 5 554 090 0.3173 GENERGY 0.19 28 694 000 5 451 860 0.3174 INFOSYS 4.33 1 261 000 5 460 130 0.3175 VGROUP 13.58 401 000 5 445 580 0.3176 DAAH 6.99 774 000 5 410 260 0.3077 5THAVENUE 1.28 4 209 000 5 387 520 0.3078 RUNICOM 2.80 1 891 000 5 294 800 0.3079 EKOBOX 2.87 1 826 000 5 240 620 0.2980 ADMASSIVE 14.85 350 000 5 197 500 0.2981 MINOX 0.49 10 608 000 5 197 920 0.2982 SSI 0.14 36 465 000 5 105 100 0.2983 NWAI 8.27 614 000 5 077 780 0.2884 HYDRAPRES 0.37 13 367 000 4 945 790 0.28

NCIndex portfolio structure (end of 2012) (contd.)

262

NewConnect



Market value

Share in NCIndex

(PLN) (PLN) (%)85 BIOGENED 17.00 285 000 4 845 000 0.2786 ADUMA 13.83 342 000 4 729 860 0.2787 AITON 1.97 2 352 000 4 633 440 0.2688 WEGLOPEX 0.25 18 000 000 4 500 000 0.2589 PHOENIX 0.70 6 373 000 4 461 100 0.2590 IZOBLOK 20.00 219 000 4 380 000 0.2591 EONET 11.07 394 000 4 361 580 0.2492 WODKAN 6.75 643 000 4 340 250 0.2493 BIOMAX 1.15 3 732 000 4 291 800 0.2494 ORIONINV 27.50 156 000 4 290 000 0.2495 EZO 3.97 1 067 000 4 235 990 0.2496 ORGANIC 5.94 708 000 4 205 520 0.2497 AGROLIGA 82.00 51 000 4 182 000 0.2398 EGB 1.88 2 207 000 4 149 160 0.2399 INNOGENE 2.35 1 765 000 4 147 750 0.23

100 APS 2.18 1 897 000 4 135 460 0.23101 GRUPAREC 10.97 377 000 4 135 690 0.23102 FARM51 3.88 1 053 000 4 085 640 0.23103 MEW 4.15 987 000 4 096 050 0.23104 AZTEC 5.39 754 000 4 064 060 0.23105 COMPERIA 19.05 211 000 4 019 550 0.23106 EPIGON 0.17 23 678 000 4 025 260 0.23107 MARKA 7.43 536 000 3 982 480 0.22108 RCUNION 0.93 4 259 000 3 960 870 0.22109 PRYMUS 1.70 2 254 000 3 831 800 0.21110 VERBICOM 1.29 2 971 000 3 832 590 0.21111 EKOPOL 2.85 1 320 000 3 762 000 0.21112 SMSKREDYT 1.25 3 000 000 3 750 000 0.21113 POLMAN 0.31 11 930 000 3 698 300 0.21114 FUTURIS 0.04 92 276 000 3 691 040 0.21115 LSTECHHOM 1.14 3 212 000 3 661 680 0.21116 MAKORA 0.13 27 870 000 3 623 100 0.20117 CSY 1.91 1 895 000 3 619 450 0.20118 BLOOBER 6.53 543 000 3 545 790 0.20119 INVICO 1.91 1 845 000 3 523 950 0.20120 ABSINVEST 0.24 14 602 000 3 504 480 0.20121 TROMEDIA 1.21 2 845 000 3 442 450 0.19122 ASTORIA 0.05 68 763 000 3 438 150 0.19123 SCANMEDMM 3.20 1 074 000 3 436 800 0.19124 SLR 18.20 185 000 3 367 000 0.19125 BALTICON 0.13 25 500 000 3 315 000 0.19126 ARTBIZNES 1.03 3 098 000 3 190 940 0.18


263

Fact Book 2013



Market value

Share in NCIndex

(PLN) (PLN) (%)127 SYNKRET 9.93 316 000 3 137 880 0.18128 SWISSPSM 1.70 1 771 000 3 010 700 0.17129 FLUID 0.40 7 300 000 2 920 000 0.16130 VENO 0.71 4 041 000 2 869 110 0.16131 TELEMEDPL 2.30 1 228 000 2 824 400 0.16132 VIVID 0.69 4 098 000 2 827 620 0.16133 BLACKPOIN 1.49 1 810 000 2 696 900 0.15134 SZAR 0.09 30 000 000 2 700 000 0.15135 AUTOSPA 6.50 409 000 2 658 500 0.15136 ADMIRAL 0.99 2 675 000 2 648 250 0.15137 01CYBATON 0.05 52 456 000 2 622 800 0.15138 I3D 1.52 1 699 000 2 582 480 0.14139 READGENE 1.71 1 494 000 2 554 740 0.14140 STARKDEV 0.01 251 681 000 2 516 810 0.14141 ANALIZY 12.00 203 000 2 436 000 0.14142 BBCONSULT 3.77 644 000 2 427 880 0.14143 EUROTAX 3.89 625 000 2 431 250 0.14144 HORTICO 2.11 1 147 000 2 420 170 0.14145 MORIZON 1.49 1 599 000 2 382 510 0.13146 URLOPYPL 0.03 78 228 000 2 346 840 0.13147 DEMOLEN 4.60 493 000 2 267 800 0.13148 RSY 2.25 1 004 000 2 259 000 0.13149 INVENTI 0.89 2 482 000 2 208 980 0.12150 MAKOLAB 1.35 1 575 000 2 126 250 0.12151 VISION 0.02 102 500 000 2 050 000 0.12152 LUXIMA 0.08 24 679 000 1 974 320 0.11153 IBCPOLSKA 3.81 512 000 1 950 720 0.11154 TWIGONET 3.27 583 000 1 906 410 0.11155 EASTSIDE 0.02 93 496 000 1 869 920 0.11156 RUCHCHORZ 0.91 2 069 000 1 882 790 0.11157 MODECOM 14.00 133 000 1 862 000 0.10158 ROBINSON 6.15 297 000 1 826 550 0.10159 BIOERG 0.62 2 918 000 1 809 160 0.10160 HOTBLOK 0.04 45 266 000 1 810 640 0.10161 INPOINT 1.02 1 763 000 1 798 260 0.10162 MEDIACAP 0.45 3 951 000 1 777 950 0.10163 WIERZYCL 0.07 25 067 000 1 754 690 0.10164 WBAY 0.07 24 750 000 1 732 500 0.10165 FONECO 0.08 20 949 000 1 675 920 0.09166 CLOUD 2.20 756 000 1 663 200 0.09167 BLIRT 1.87 872 000 1 630 640 0.09168 GALVO 1.09 1 500 000 1 635 000 0.09


264

NewConnect



Market value

Share in NCIndex

(PLN) (PLN) (%)169 GREMPCO 0.57 2 823 000 1 609 110 0.09170 APIS 0.05 31 845 000 1 592 250 0.09171 STEMCELLS 1.20 1 333 000 1 599 600 0.09172 DIGITAL 0.37 4 198 000 1 553 260 0.09173 NAVIMORIN 5.73 270 000 1 547 100 0.09174 FABRFORMY 0.38 4 056 000 1 541 280 0.09175 AQUAPOZ 9.60 159 000 1 526 400 0.09176 DORADCY24 0.01 151 668 000 1 516 680 0.09177 ISIAG 1.29 1 159 000 1 495 110 0.08178 PREMETINV 0.35 4 192 000 1 467 200 0.08179 FOREVEREN 0.65 2 189 000 1 422 850 0.08180 MOMO 0.36 3 950 000 1 422 000 0.08181 YURECO 1.08 1 324 000 1 429 920 0.08182 CODEMEDIA 28.30 50 000 1 415 000 0.08183 OPENNET 2.03 696 000 1 412 880 0.08184 EMMERSON 0.13 10 691 000 1 389 830 0.08185 DEPEND 0.30 4 610 000 1 383 000 0.08186 GENOMED 13.50 102 000 1 377 000 0.08187 QUART 3.65 366 000 1 335 900 0.08188 PARTNER 0.11 12 000 000 1 320 000 0.07189 STOCKINFO 0.56 2 370 000 1 327 200 0.07190 EDISON 3.20 409 000 1 308 800 0.07191 SUNTECH 0.32 4 098 000 1 311 360 0.07192 KOMPLEKS 0.95 1 352 000 1 284 400 0.07193 DANKS 1.30 977 000 1 270 100 0.07194 EBC 1.08 1 174 000 1 267 920 0.07195 HURTIMEX 0.36 3 514 000 1 265 040 0.07196 KORBANK 1.33 942 000 1 252 860 0.07197 TABLEO 2.00 629 000 1 258 000 0.07198 DEKTRA 12.46 99 000 1 233 540 0.07199 EKOKOGEN 0.64 1 940 000 1 241 600 0.07200 EMUZYKA 0.83 1 485 000 1 232 550 0.07201 ICMVISION 1.20 1 000 000 1 200 000 0.07202 BLUMERANG 0.78 1 513 000 1 180 140 0.07203 TECHMADEX 26.80 44 000 1 179 200 0.07204 ALKAL 2.25 516 000 1 161 000 0.07205 EUROSNACK 0.48 2 414 000 1 158 720 0.07206 RODAN 0.90 1 292 000 1 162 800 0.07207 ARTEFE 0.04 28 652 000 1 146 080 0.06208 ASSETUS 8.00 138 000 1 104 000 0.06209 ATSENERGY 0.17 6 478 000 1 101 260 0.06210 PPRICE 0.10 11 021 000 1 102 100 0.06


265

Fact Book 2013



Market value

Share in NCIndex

(PLN) (PLN) (%)211 ADVERTIGO 0.14 7 785 000 1 089 900 0.06212 KKHERBAL 0.81 1 349 000 1 092 690 0.06213 SEKA 6.01 180 000 1 081 800 0.06214 GWARANT 3.05 345 000 1 052 250 0.06215 INBOOK 0.75 1 396 000 1 047 000 0.06216 INDEXMEDI 3.46 300 000 1 038 000 0.06217 HEFAL 0.40 2 567 000 1 026 800 0.06218 MBPARTNER 0.06 17 000 000 1 020 000 0.06219 SFKPOLKAP 2.89 350 000 1 011 500 0.06220 TRICEPS 2.20 452 000 994 400 0.06221 AKCEPTFIN 0.99 1 000 000 990 000 0.06222 DOMLEK 24.48 40 000 979 200 0.06223 POLNOCNR 0.46 2 089 000 960 940 0.05224 SOBET 0.13 7 228 000 939 640 0.05225 GPFCAUSA 0.01 92 382 000 923 820 0.05226 ICPD 0.23 3 942 000 906 660 0.05227 EKIOSK 0.12 7 297 000 875 640 0.05228 PROLOG 8.99 97 000 872 030 0.05229 DFP 0.12 7 024 000 842 880 0.05230 PILAB 9.40 90 000 846 000 0.05231 LETUS 0.15 5 248 000 787 200 0.04232 MGAMES 0.31 2 509 000 777 790 0.04233 SARE 2.45 321 000 786 450 0.04234 BROADGATE 0.84 919 000 771 960 0.04235 ROTOPINO 2.46 315 000 774 900 0.04236 TAXNET 1.41 533 000 751 530 0.04237 ALUMAST 0.48 1 522 000 730 560 0.04238 ERS 0.49 1 512 000 740 880 0.04239 XPLUS 0.11 6 589 000 724 790 0.04240 CCTOOLS 0.44 1 640 000 721 600 0.04241 BLUETAX 0.02 34 865 000 697 300 0.04242 KLON 0.31 2 242 000 695 020 0.04243 DOMZDROW 1.33 511 000 679 630 0.04244 ESPEROTIA 0.12 5 713 000 685 560 0.04245 FMOZAROW 0.45 1 500 000 675 000 0.04246 LASERMED 1.29 512 000 660 480 0.04247 PLANETSOF 1.20 516 000 619 200 0.04248 SILVACG 0.19 3 268 000 620 920 0.04249 ICPGROUP 2.80 217 000 607 600 0.03250 PROXYAD 0.07 8 581 000 600 670 0.03251 STERGAMES 0.56 1 050 000 588 000 0.03252 EXAMOBILE 1.22 391 000 477 020 0.03


266

NewConnect



Market value

Share in NCIndex

(PLN) (PLN) (%)253 BIOFACTOR 2.20 204 000 448 800 0.03254 EXDEBT 0.14 3 214 000 449 960 0.03255 MONDAY 2.55 166 000 423 300 0.02256 WAKEPARK 0.18 2 224 000 400 320 0.02257 ALEJA 0.47 798 000 375 060 0.02258 GLOBALTR 0.07 5 311 000 371 770 0.02259 MGMSYS 1.23 302 000 371 460 0.02260 XSYSTEM 0.86 400 000 344 000 0.02261 UNIMOTGAZ 3.00 107 000 321 000 0.02262 OEM 0.53 507 000 268 710 0.02263 REVITUM 1.00 258 000 258 000 0.01264 INVESTREM 0.06 3 750 000 225 000 0.01265 WASPOL 0.18 981 000 176 580 0.01266 GRAPHIC 1.34 121 000 162 140 0.01267 MERIT 0.34 367 000 124 780 0.01268 C2A 0.04 2 312 000 92 480 0.01269 BIOMASS 1.10 60 000 66 000 0.00270 MADKOM 0.16 500 000 80 000 0.00


267

Fact Book 2013

NCIndex and NCLifeScience values in 2012

Session(dd.mm) NCIndex NCLife

Science

30.12.11 41.62 80.83

2.01 41.49 81.53

3.01 41.4 81.97

4.01 41.15 81.45

5.01 40.9 80.55

9.01 41 84.77

10.01 41.09 85.98

11.01 40.96 83.06

12.01 41.16 83.15

13.01 41.02 83.06

16.01 40.89 82.67

17.01 41.28 84.34

18.01 41.09 84.51

19.01 41.13 84.5

20.01 41.11 84.69

23.01 41.03 84.7

24.01 40.71 83.93

25.01 40.96 84.25

26.01 41.3 84.42

27.01 41.18 84.38

30.01 41.18 84.06

31.01 41.33 84.5


Science

1.02 41.76 83.73

2.02 41.63 84.03

3.02 42.04 85.54

6.02 42.18 91.82

7.02 42.39 91.72

8.02 43.14 97.55

9.02 43.01 95.36

10.02 43.1 94.02

13.02 42.87 92.82

14.02 43.08 93.47

15.02 43.51 93.83

16.02 43.31 93.08

17.02 43.65 93.62

20.02 43.83 95.08

21.02 43.56 94.65

22.02 43.25 94.86

23.02 43.37 94.81

24.02 43.19 94.81

27.02 43.27 95.12

28.02 43.12 94.68

29.02 42.78 91.6

1.03 42.72 91.25


Science

2.03 43.22 91.6

5.03 43.21 90.8

6.03 43.09 91.44

7.03 42.94 91.97

8.03 42.79 91.55

9.03 43.07 92.32

12.03 43.11 92.34

13.03 43.22 92.59

14.03 43.04 91.92

15.03 43.06 89.2

16.03 43.22 85.7

19.03 43.43 90.19

20.03 43.35 89.12

21.03 43.23 87.34

22.03 42.45 85.89

23.03 42.24 86.14

26.03 42.02 87.01

27.03 42.21 86.71

28.03 41.94 86.1

29.03 41.93 87.05

30.03 42.57 89.61

2.04 42.26 89.15



Market value

Share in NCLifeScience

(PLN) (PLN) (%)1 BIOMEDLUB 4.94 8 560 000 42 286 400 33.892 MABION 15.00 1 900 000 28 500 000 22.843 BRASTER 11.00 1 640 000 18 040 000 14.464 SELVITA 2.74 3 221 000 8 825 540 7.075 BIOMAXIMA 6.30 1 280 000 8 064 000 6.466 PHARMENA 6.16 1 146 000 7 059 360 5.667 BIOGENED 17.00 285 000 4 845 000 3.888 READGENE 1.71 1 494 000 2 554 740 2.059 BLIRT 1.87 872 000 1 630 640 1.31

10 STEMCELLS 1.20 1 333 000 1 599 600 1.2811 GENOMED 13.50 102 000 1 377 000 1.10

NCLifeScience portfolio structure (end of 2012)

▲

▲

268

NewConnect


Science

3.04 42.41 88.98

4.04 42.32 88.35

5.04 42.37 88.46

10.04 41.82 87.96

11.04 41.91 86.56

12.04 41.85 85.33

13.04 41.73 85.21

16.04 41.29 84.65

17.04 41.54 84.47

18.04 41.42 81.78

19.04 41.37 81.99

20.04 40.85 83.68

23.04 40.19 82.1

24.04 40.46 83.82

25.04 40.44 84.32

26.04 40.2 83.89

27.04 40.25 84.46

30.04 40.72 83.52

2.05 40.91 83.18

4.05 40.98 83.37

7.05 40.51 83.5

8.05 40.47 82.93

9.05 40.12 82.84

10.05 40.16 81.44

11.05 40.06 82.14

14.05 40 85.86

15.05 39.55 84.46

16.05 39.43 84.35

17.05 38.89 82.78

18.05 38.74 82.39

21.05 38.69 81.01

22.05 38.65 81.64

23.05 38.52 81.32

24.05 38.09 80.09

25.05 37.77 78.4

28.05 37.76 79.85

29.05 37.71 79.49

30.05 37.69 77.17


Science

31.05 37.58 79.33

1.06 37.37 78.27

4.06 37.06 77.93

5.06 36.59 77.88

6.06 36.69 78.26

8.06 36.87 78.46

11.06 36.83 79.14

12.06 36.82 80.29

13.06 36.78 79.88

14.06 36.74 79.6

15.06 36.56 79.39

18.06 36.42 78.97

19.06 36.53 78.18

20.06 36.65 78.49

21.06 36.68 77.76

22.06 36.83 78.38

25.06 36.67 78.8

26.06 36.27 76.43

27.06 36.53 77.05

28.06 36.32 76.7

29.06 36.7 76.46

2.07 36.38 76.38

3.07 36.24 76.93

4.07 35.94 77.36

5.07 35.87 76.08

6.07 35.92 76.31

9.07 35.62 75.68

10.07 35.5 75.32

11.07 35.35 75.47

12.07 34.97 75.24

13.07 34.9 76.42

16.07 35.06 74.92

17.07 35.04 76.7

18.07 34.83 75.94

19.07 34.88 74.89

20.07 34.74 73.99

23.07 33.94 74.06

24.07 34.3 75.09


Science

25.07 34.02 73.13

26.07 33.85 72.34

27.07 33.98 73.2

30.07 33.98 71.71

31.07 33.9 70.98

1.08 34.15 71.85

2.08 33.76 71.51

3.08 34.09 72.82

6.08 34.29 71.49

7.08 34.29 71.85

8.08 34.23 72.28

9.08 34.87 69.31

10.08 34.69 68.85

13.08 34.71 68.75

14.08 34.4 68.31

16.08 34.58 68.14

17.08 34.7 68.5

20.08 34.53 67.01

21.08 34.23 66.4

22.08 34.38 65.54

23.08 34.65 66.7

24.08 34.39 67.35

27.08 34.44 67.71

28.08 34.19 66.81

29.08 33.96 65.76

30.08 34.24 66.68

31.08 34.55 69.38

3.09 34.64 69.44

4.09 34.78 75.13

5.09 34.5 74.84

6.09 34.39 74.79

7.09 34.27 75.09

10.09 34.21 72.88

11.09 34.21 73.07

12.09 34.25 70.96

13.09 34.55 71.05

14.09 35.03 70.82

17.09 35.13 69.66

NCIndex and NCLifeScience values in 2012 (contd.)

269

Fact Book 2013

▲ All-year high for 2012 ▼ All-year low for 2012


Science

18.09 35.21 70.26

19.09 35.01 70.29

20.09 34.83 69.91

21.09 34.82 69.76

24.09 34.7 69.5

25.09 34.52 68.73

26.09 34.76 69.22

27.09 34.72 69

28.09 34.7 68.19

1.10 34.32 67.39

2.10 34.38 65.83

3.10 34.31 65.81

4.10 34.24 66.03

5.10 34.34 66.62

8.10 34.48 65.97

9.10 34.53 66.06

10.10 34.53 64.99

11.10 34.82 65.54

12.10 34.8 65.25

15.10 34.77 64.8

16.10 34.78 63.04

17.10 34.77 63.14

18.10 34.54 63.32

19.10 34.59 64.02


Science

22.10 34.78 62.75

23.10 34.71 62.91

24.10 34.7 63.29

25.10 34.7 64.51

26.10 34.41 63.81

29.10 34.78 64.69

30.10 34.54 64.77

31.10 35.24 65.42

2.11 34.93 65.35

5.11 34.7 62.73

6.11 34.62 62.53

7.11 34.14 60.6

8.11 34.07 60.5

9.11 34.16 60.15

12.11 34.27 60.05

13.11 34.21 59.67

14.11 34.42 60.94

15.11 34.1 61.85

16.11 33.77 60.54

19.11 33.71 58.78

20.11 33.71 59.21

21.11 33.59 59.53

22.11 33.61 60.76

23.11 33.65 60.79


Science

26.11 33.41 60.47

27.11 33.48 60.19

28.11 33.36 60.91

29.11 33.18 62.3

30.11 33.45 59.73

3.12 33.34 59

4.12 33.39 59.67

5.12 33.19 58.83

6.12 33.22 58.28

7.12 33.47 57.59

10.12 33.4 57.59

11.12 33.44 57.3

12.12 33.19 56.7

13.12 32.93 56.39

14.12 32.91 56.37

17.12 32.69 56.63

18.12 32.53 55.33

19.12 32.55 55.89

20.12 32.54 55.56

21.12 32.72 56.17

27.12 33.06 56

28.12 33.26 55.23

NCIndex and NCLifeScience values in 2012 (contd.)

▼

▼

270

NewConnect

Trading Rules

Companies may choose from two available systems on NewConnect:order-driven (with participation of a Mar-

ket Animator), orprice-driven (with a Market Maker).

Shares can be traded within a continuous trading system or a single-price auction system with two auctions daily. In the order driven system the Market Animator is ob-ligated to stimulate trading, i.e. to support the liquidity of the issuer’s shares. In the price-driven system the Market Maker has the obligation to place buy and sell orders. The Market Maker is always a party to each

transaction. The choice of trading system is made at the issuer’s sole discretion but may be preceded by consultation with an Authorised Adviser.

At the end of 2012 all NewConnect com-panies were traded under the order-driven system. The session schedule is the same as that of the WSE’s Main List and so are the types of orders and execution priorities. The prices of traded instruments are always set with an accuracy of PLN 0.01, regardless of price levels.

Trading session schedule on the NewConnect (24h system)

Order-driven market – continuous trading

8:00 – 9:00 Pre-opening phase (opening call)– orders may be submitted, modified and cancelled– transactions are not executed

9:00 Opening (opening price is determined and transactions are made at the opening)– order submission, modification and cancellation is suspended– transactions are executed at a price equal to the opening price

9:00 – 17:20 Continuous trading phase– orders may be submitted, modified and cancelled– transactions are executed

17:20 – 17:30 Pre-closing phase (closing call)– orders may be submitted, modified and cancelled– transactions are not executed

17:30 Closing (closing price is determined and transactions are made at the closing)– order submission, modification and cancellation is suspended– transactions are executed at a price equal to the closing price

17:30 – 17:35 Post-auction trading

271

Fact Book 2013

Order-driven market – continuous trading1


11:00 – 11:30 Intervention phase






1 This schedule applies to an issuer's debut trading session on NewConnect

Price-driven market – continuous trading

9:30 – 17:10 Continuous trading phase– Market Makers submit orders (quotations) – other market members submit orders– transactions are executed

272

NewConnect

Order-driven market – single-price system


11:00 Opening (single price is determined and transactions are made at the opening)– order submission, modification and cancellation is suspended– transactions are executed at a price equal to the opening price





15:30 – 17:35 Pre-opening phase (next day opening call)– orders may be submitted, modified and cancelled– transactions are not executed

Order-driven market – single-price system2


11:00 – 11:30 Intervention phase







2 This schedule applies to the issuer’s debut trading session on NewConnect

273

Fact Book 2013

Starting from 15 April 2013, the following abridged session schedule has been in force. This schedule is temporary and will apply until the end of 2013.

Continuous trading

8:30 – 9:00 Pre-opening phase (opening call)

9:00 Opening (opening price is determined)

9:00 – 16:50 Continuous trading phase

16:50 – 17:00 Pre-closing phase (closing call)

17:00 Closing (closing price is determined)


Single-price system




11:30 – 15:00 Pre-opening phase (next opening call)




On the first day of trading in financial instruments the trading is organised in accordance with the following schedule:

Continuous trading







Single-price system








274

NewConnect

Price variation limits on NewConnect

Continuous trading

Instrument Reference price (opening)

Acceptable price variation limit for the opening

Acceptable price variation limit for the session, in case the opening price has been determined*

SharesRights to sharesPre-emptive rights

Closing price ±20% relative to closing price (extendable to 44%)

±20% relative to opening price (extendable)

* If no opening price has been determined at opening, the acceptable price variation limit is deter-mined in relation to the closing price. On the debut day, the price variation limit relative to the opening price is max. ±50% for shares and rights to shares, and the price variation limit relative to the opening price established during the balancing phase is max. ±100%.

Single-price system

Instrument Permissible price variation limit for auction*

SharesRights to sharesPre-emptive rights

±20% relative to the reference price of the last auction (extendable)

* On the debut day the price variation limit for the first single price on shares and on rights to shares is max. ±50%, whereas upon consent of the Alternative Trading System (ATS) operator the price variation limit may reach max. ±100%.

275

Fact Book 2013

NewConnect Members

NewConnect membership is open only to organisations which have the status of a WSE member.

In order to obtain NewConnect membership, in-terested WSE members must apply to the WSE to set the start date and the scope of their op-erations to be conducted on NewConnect. In or-der to begin operations on NewConnect, WSE members are required to submit a declaration confirming that they intend to join the market

and that they have made the required payment to the fund which secures ATS transactions (the fund is operated by the National Depository for Securities). Alternatively, the payment may be made by another organisation which has signed an agreement with the relevant market member to settle NewConnect transactions.

NewConnect members include domestic bro-kerage houses, banks engaging in brokerage activities and foreign investment firms.

NewConnect Members (end of 2012)

Alior Bank SA www.aliorbank.plBanco Espirito Santo de Investimento S.A. www.esinvestment.comBank BPH SA www.bph.plBank DnB NORD Polska SA www.dnbnord.plBank Gospodarki Żywnościowej SA www.bgz.plBank Polska Kasa Opieki SA www.pekao.com.plCentralny Dom Maklerski Pekao SA www.cdmpekao.com.plCopernicus Securities SA www.copernicus.plCYRRUS as * www.cyrrus.czConcorde Securities S.A. * www.concordesecurities.huDB Securities SA www.db.comDom Inwestycyjny BRE Banku SA www.dibre.com.plDom Maklerski AmerBrokers SA www.amerbrokers.plDom Maklerski Banku BPS SA www.dmbps.plDom Maklerski Banku Handlowego SA www.dmbh.plDom Maklerski Banku Ochrony Środowiska SA www.bossa.plDom Maklerski BDM SA www.bdm.com.pl

Dom Maklerski BZ WBK SA www.dmbzwbk.plDom Maklerski IDM SA www.idmsa.plERSTE Securities Polska SA www.esp.plING Securities SA w Warszawie www.ingsecurities.plIP INTERCAPITAL MARKETS AD www.intercapital.bg/enIPOPEMA SECURITIES SA www.ipopema.plKBC Securities NV (SA) Oddział w Polsce www.kbcmakler.plMillennium Dom Maklerski SA www.millenniumdm.plNOBLE Securities SA www.noblesecurities.plNWAI Dom Maklerski www.nwai.plOPERA Dom Maklerski Sp. z o.o. www.opera.plPowszechna Kasa Oszczędności Bank Polski SA www.dm.pkobp.plRaiffeisen Bank Polska SA www.raiffeisen.plTRIGON Dom Maklerski SA www.trigon.plUniCredit CAIB Poland SA www.ca-ib.comWood & Company Financial Services as * www.wood.czX- Trade Brokers Dom Maklerski SA www.xtb.plDom Inwestycyjny Xelion sp. z o.o.

* A foreign investment firm.

276

NewConnect

NewConnect Members’ shares in trading in 2012No. Brokerage houses Order-book trades Block trades

(PLN million) (%) (PLN million) (%)

1 DI BRE Banku 357.65 15.67 49.03 15.13

2 DM BZ WBK 302.19 13.24 88.84 27.41

3 ALIOR BM 293.89 12.88 8.43 2.6

4 DM BOŚ SA 237.71 10.42 19.48 6.01

5 CDM PEKAO 151.38 6.63 4.29 1.32

6 PKO BP 123.48 5.41 11.62 3.59

7 BDM SA 119.18 5.22 4.25 1.31

8 ING SECUR 92.55 4.06 2.17 0.67

9 DM PEKAO 77.38 3.39 3.87 1.19

10 NOBLE 63.59 2.79 0.48 0.15

11 BESI 62.74 2.75 2.45 0.76

12 AMERBROKERS 50.72 2.22 0.73 0.23

13 DNB NORD 47.62 2.09 2.22 0.69

14 TRIGON 46.35 2.03 8.23 2.54

15 KBC SECURITIES 44.44 1.95 2.16 0.67

16 BPH 41.16 1.8 1.15 0.35

17 IDMSA 38.8 1.7 28.9 8.92

18 MILL DM 32.46 1.42 22.07 6.81

19 BGŻ SA 20.85 0.91

20 XTB 18.62 0.82 0.1 0.03

21 DB SECUR. 12.49 0.55 6.21 1.92

22 COPERNICUS 11.44 0.5 13.85 4.27

23 DM BH 7.63 0.33 9.07 2.8

24 ERSTE 6.9 0.3

25 IPOPEMA 5.96 0.26 0.2 0.06

26 DM BPS 5.76 0.25

27 WOOD 3.14 0.14 16.2 5

28 RAIFFEISEN BANK POLSKA 1.5 0.07

29 UNICRCAIB 1.44 0.06 12.23 3.77

30 CYRRUS 0.83 0.04

31 NWAI DM 0.75 0.03

32 OPERA 0.52 0.02

33 INTERCAPITAL 0.28 0.01

34 XELION 0.26

277

Fact Book 2013

Market Animator/Market Maker

During their presence on NewConnect, each issuer is supported by an investment company which acts as a market animator. The status of NewConnect market anima-tor is available for market members and other investment firms (incl. foreign ones) which have signed relevant contracts with the WSE and committed to support liquidity of financial instruments traded on NewCon-nect. After two years following the first trad-ing of financial instruments on NewConnect, the WSE may waive the requirement for an issuer to have a market animator, provided that the liquidity of the issuer’s instruments

is sufficient. The WSE may commit the issu-er to fulfil the requirement mentioned above should it deem this condition necessary to improve the liquidity of the issuer’s instru-ments.

At the end of December 2012 a total of 15 market animators were active on NewCon-nect.

Bank DnB NORD Polska SA www.dnbnord.pl

Cyrrus, a.s.* www.cyrrus.cz

Dom Maklerski Amerbrokers SA www.amerbrokers.pl

Dom Maklerski Banku Ochrony Środowiska SA www.bossa.pl

Dom Maklerski BZ WBK SA www.dmbzwbk.pl

Dom Maklerski IDM SA www.idmsa.pl

Dom Maklerski TRIGON SA www.trigon.pl

Powszechna Kasa Oszczędności Bank Polski SA www.dm.pkobp.pl

Copernicus Securities SA www.copernicus.pl

NOBLE Securities SA www.noblesecurities.pl

ALIOR Bank SA www.aliorbank.pl/pl/biuro_maklerskie

Dom Maklerski Banku BPS SA www.dmbps.pl

NWAI Dom Maklerski SA www.nwai.pl

List of NewConnect Market Animators (as of 31 December 2012)

* A foreign investment firm.

278

NewConnect

Authorised Advisers on NewConnect

Any company which intends to effect its IPO on NewConnect has an obligation to under-take co-operation with an authorised ad-viser, i.e. an advisory company authorised by the WSE to operate within its Alternative Trading System (ATS). The status of an authorised adviser is avail-able to investment companies, law firms, audit companies or financial consultancies with expertise in providing capital market services to small and medium enterprises and, since 2012, employing at least two holders of the Alternative Trading System Adviser Certificate. This certificate can be obtained upon passing a specialised exami-nation (organised by the WSE) which veri-fies the candidate’s knowledge and practi-cal command of Alternative Trading System regulations.

The role of the Authorised Adviser is to pro-vide comprehensive services to issuers dur-ing their preparation for the IPO, e.g. checking if the information document has been drawn up in accordance with the ATS requirements, approving the information document (which is viewed as an endorsement that the com-pany referred by the Authorised Adviser to NewConnect is a reliable one) and, for three years following the IPO, ensuring qualified support with regard to compliance with man-datory disclosures and the trading in issuer’s financial instruments within the ATS.

As of 31 December 2012 a total of 93 entities were registered as Authorised Advisers on NewConnect.

4Capital sp. z o.o.* www.4-capital.plABISTEMA Kancelaria Doradcza sp. z o.o.* www.abistema.plACADIA Spółka z ograniczoną odpowiedzialnością S.K.A. www.acadia.plAdwokaci i Radcowie Prawni sp. k. Iza-bella Żyglicka i Wspólnicy* www.kpr.plArt Capital sp. z o.o. www.art-capital.plBank DnB NORD Polska SA* www.dnbnord.pl

Bank Gospodarki Żywnościowej SA - Bi-uro Maklerskie* www.bgz.pl/biuro_maklerskie/Bank Zachodni WBK SA* www.bzwbk.plBastion Dom Inwestycyjny sp. z o.o. www.bastiongroup.comBDO sp. z o.o. www.bdo.plBeskidzkie Biuro Consultingowe SA* www.bbc-polska.comBest Capital sp. z o.o.* www.bestcapital.comBlue Tax Group SA* www.bluetax.pl

NewConnect Authorised Advisers *Companies which concurrently act as Authorised Advisers on NewConnect and Catalyst.

279

Fact Book 2013

BRE Corporate Finance SA* www.bcf.plBTFG Audit sp. z o.o. www.bt-fg.comCapital City sp. z o.o.* www.capitalcity.plCapital Kopernik SA* www.capitalkopernik.plCapital One Advisers sp. z o.o.* www.capitalone.plCarnelian Partners sp. z o.o. www.carnelian.plCC Group sp. z o.o. www.ccgroup.com.plCellica sp. z o.o. www.cellica.plCertus Capital SA www.certuscapital.plChabasiewicz, Kowalska i Partnerzy. Radcowie Prawni* www.ck-legal.plCapital Solutions ProAlfa sp. z o.o. www.cs-proalfa.plCopernicus Securities SA www.copernicus.plCorvus Corporate Finance sp. z o.o.* www.corvuscf.plCWW S. Cetera, M. Węgrzyn-Wysocka i Wspólnicy Kancelaria Radców Prawnych i Adwokatów sp. k. www.cww.plDąbrowski Finance sp. z o.o.* www.dabrowskifinance.euDFI sp. z o.o. www.dfi.com.plDom Inwestycyjny Investors SA* www.investors.plDom Inwestycyjny Taurus SA* www.dom-taurus.plDom Maklerski Banku BPS SA* www.dmbps.plDom Maklerski BDM SA* www.bdm.com.plDom Maklerski BOŚ SA* www.bossa.plDom Maklerski Capital Partners SA* www.dmcp.com.plDom Maklerski WDM SA* www.wdmsa.plDSBJ Grupa Doradcza sp. z o.o.* www.dsbj.eu

EBC Solicitors SA* www.ebcsolicitors.plECA Auxilium SA www.auxilium.com.plEFICOM SA www.eficom.plEquity Advisors sp. z o.o.* www.equityadvisors.plEquity Market Consulting Group sp. z o.o. www.emcg.plERSTE Securities Polska SA* www.esp.plFitz Roy sp. z o.o.* www.fitz-roy.plGrant Thornton Frąckowiak sp. z o.o. sp. k.* www.GrantThornton.plGrupa Gumułka - Audyt sp. z o.o.* www.gumulka.plGrupa Trinity SA* www.grupatrinity.plICF sp. z o.o.* www.icfsa.plIDMSA.PL Doradztwo Finansowe sp. z o.o. www.df.idmsa.plInfinity8 SA* www.infinity8.plInvest Concept sp. z o.o. www.investconcept.plINVESTcon Group SA* www.investcongroup.plIPO SA* www.ipo.plIPO Doradztwo Strategiczne SA www.ipo.com.plJonak Doradztwo sp. z o.o.* www.jonaklaw.comKancelaria CSW Więckowska i Partnerzy, Radcy Prawni* www.kancelaria-csw.plKancelaria Radców Prawnych Leszek Czarny, Wojciech Budny i Wspólnicy sp. k. www.czarny-budny.plKurek, Kościołek Wójcik Kancelaria Radców Prawnych sp. p. www.kkw.plLema Finance sp. z o.o.* www.lemacapital.plLewandowski Pyffel & Partners sp. z o.o.* www.lpip.pl

280

NewConnect

Łuczyński i Wspólnicy sp. k. www.liwlegal.plM&M Doradztwo Gospodarcze sp. z o.o.* www.mm-dg.plMercurius Financial Advisors sp. z o.o. sp. k. www.mfa.plMetropolitan Capital Solutions sp. z o.o. S.K.A. www.metropolitancapital.plNavigator Capital SA www.navigatorcapital.plNobilis Partners Polewczak Gładysz Grocholski sp. k. www.nobiliscounsels.comNoble Securities SA* www.noblesecurities.plNWAI Dom Maklerski SA* www.nwai.plO.M. Finance sp. z o.o.* www.omfin.plOPERA Dom Maklerski sp. z o.o.* www.opera.plPKF Consult sp. z o.o.* www.pkfpolska.plPL Consulting sp. z o.o. www.pl-consulting.plPlatinium Investment sp. z o.o. www.platiniuminvest.comProf. Marek Wierzbowski i Partnerzy - Adwokaci i Radcowie Prawni www.mwlegal.plPROFESCAPITAL sp. z o.o.* www.profescapital.plPrometeia Capital sp. z o.o. www.prometeia.plRadzikowski, Szubielska i Wspólnicy sp.k. (Chadbourne & Parke)* www.chadbourne.comRaiffeisenbank a.s. www.rb.czRaiffeisen Investment Polska sp. z o.o. www.raiffeiseninvestment.comRubicon Partners Corporate Finance SA* www.rubiconpartners.plRunicom Corporate Finance sp. z o.o. sp. k.* www.runicomcf.plSALWIX sp. z o.o.* www.salwix.plSecus Asset Management SA* www.secus.pl

Sobolewska i Wspólnicy Doradcy Prawni sp. k.* www.smlegal.plT&T Consulting sp. z o.o. www.ttconsulting.plTatar i Wspólnicy sp. k.* www.tatar.com.plTop Consulting SA www.topconsult.plTrigon Dom Maklerski SA* www.trigon.plValor Partners sp. z o.o.* www.valorpartners.plVentus Asset Management SA* www.ventusam.plWDM Autoryzowany Doradca sp. z o.o.* www.wdmsa.plWołoszański, Rożko i Partnerzy Kancelaria Radców Prawnych* www.wrplegal.plZarzecki, Lasota i Wspólnicy sp. z o.o.* www.zarzecki.pl

281

Fact Book 2013

Mandatory Disclosures

Distribution of NewConnect Data

The following disclosures are mandatory for NewConnect companies: current reports, containing information on

all relevant events and plans affecting their market status or the price of their financial instruments,

periodic financial reports: - quarterly reports, - audited annual reports, with an auditor’s

report and statement.

In comparison with the regulated market, NewConnect companies are not required to publish semi-annual reports, they have more time to publish annual reports (six months) and are subject to a narrower scope of dis-closures in their quarterly reports.

Reporting under the ATS Rules is managed through the Electronic Information Base (EIB). This is a system for publishing current and periodic reports submitted by New-

Connect companies. EIB was developed in-house and is supervised by the WSE.

In the WSE's efforts to ensure a high qual-ity of relations between NewConnect com-panies and investors and, consequently, to facilitate growth of the market as a whole, ‘Best Practices for NewConnect Companies’ have been mandatory since 2009. Accord-ing that document, listed companies are required to publish their annual reports to-gether with a descriptive corporate govern-ance report and current reports on viola-tions of best practices, if any.

A detailed list of current and periodic re-ports, with their respective coverage and publication deadlines, is provided in Appen-dix 3 to the Rules of the Alternative Trading System, available from www.newconnect.pl (section: Regulations).

Any investor may watch NewConnect quota-tions as they appear through www.newcon-nect.pl and www.gpwinfostrefa.pl. Access to NewConnect data is also available through authorised data vendors.

At the end of December 2012 a total of 39 ven-dors offered real-time access to stock quota-tions to their subscribers. This group includes 22 brokerage houses, 7 news agencies, 6 web portals, 3 IT system providers and 1 bank. The vast majority of those vendors have offered access to NewConnect quotations since its launch.

At present, nearly all Polish data vendors (31 companies) offer NewConnect quotations. Moreover, quotations are distributed by 5 leading global news agencies (Thomson Reu-ters, Bloomberg, Interactive Data, SIX Tele-kurs and VWD). Subscribers have easy access to stock quotations via the same applications which they use to monitor the WSE Main List quotations. Currently, nearly 282,000 sub-scribers have access to NewConnect quota-tions. Among them over 277,000 are Polish investors and the remaining ones are foreign entities.

282

NewConnect

Banku DnB NORD Polska SA www.bmdnbnord.pl

Dom Maklerski BDM S.A. www.bdm.com.pl

Bankier.pl www.bankier.pl

CDM Pekao www.cdmpekao.com.pl

DM BPH www.bm.bph.pl

Interia.pl www.interia.pl

Presspublica www.rp.pl

DM BZ WBK www.dmbzwbk.pl

DM BOŚ www.bossa.pl

DM Amerbrokers www.amerbrokers.pl

Reuters www.reuters.com

DM PKO BP www.dm.pkobp.pl

DM Trigon www.trigon.pl

DI BRE www.brebank.pl

ING Securities www.ingsecurities.pl

Wirtualna Polska www.wp.pl

Polska Agencja Prasowa www.pap.pl

Telekurs www.six-telekurs.com

Dom Maklerski IDM www.idmsa.pl

Bonnier Business www.bonnier.pl

mBank www.mbank.pl

KBC Securities www.kbcmakler.pl

Onet.pl www.onet.pl

BGŻ www.bgz.pl

FT Interactive Data www.interactivedata.com

Bloomberg www.bloomberg.com

OPERA Dom Maklerski www.opera.pl

Alior Bank www.aliorbank.pl

NOBLE Securities www.noblesecurities.pl

DM Banku Handlowego www.dmbh.pl

VWD www.vwd.com

Polski Terminal Finansowy www.terminalfinansowy.pl

Raiffeisen Bank Polska www.raiffeisen.pl

Deutsche Bank PBC www.deutsche-bank-pbc.pl

Xignite www.xignite.com

Notoria Serwis www.ir.notoria.pl

List of Data Vendors (end of February 2013)

283

Fact Book 2013

List of distributors of company reports (end of 2012)

DM Millennium www.millenniumdm.pl

Biuro Maklerskie Banku DnB NORD Polska SA www.bmdnbnord.pl

Reuters www.reuters.com

Presspublica www.rp.pl

Interia.pl www.interia.pl

Polska Agencja Prasowa www.pap.pl

Bankier.pl www.bankier.pl

Bonnier Business www.bonnier.pl

NOBLE Securities www.noblesecurities.pl

Onet.pl www.onet.pl

CDM Pekso www.cdmpekao.com.pl

Money.pl www.money.pl

CAIT www.cait.com.pl

XTB www.xtb.pl

Grupa Trinity www.grupatrinity.pl

Financial Web www.finweb.com

WSEInfoEngine www.infoengine.pl

Notoria Serwis www.notoria.pl

DM BDM www.bdm.com.pl

Company reportsAccess to issuers’ reports is enabled through EIB. As is the case with quotations, reports can be viewed at www.newconnect.pl and www.gpwinfostrefa.pl. Access to EIB reports is also offered via authorised data vendors. At the end of December 2012 a total of 19 vendors offered access to company reports to their subscribers (with availability of real--time quotations). This group included 18 Polish companies and one foreign entity (Reu-ters). NewConnect companies are required to publish their current reports, audited annual reports and quarterly reports. There is no ob-

ligation to have quarterly reports audited or reviewed. If an issuer is part of a group and is required to prepare consolidated financial reports under separate regulations, such con-solidated reports are also submitted.

284

NewConnect

11BIT [11BA] 11 BIT STUDIOS SA www.11bitstudios.pl

01CYBRATON [01C] 01 CYBATON SA www.01cyberaton.eu

5THAVENUE 5th Avenue Holding SA www.5avenueholding.com

11BIT [11BA] 11 BIT STUDIOS SA www.11bitstudios.pl

8FORMULA [8FO] FORMUŁA 8 SA www.formula8.pl

ABAK [ABK] ABAK SA www.abak.com.pl

ABEONET [ABO] ABEONET SA www.abeonet.pl

ABSINVEST [AIN] ABS INVESTMENT SA www.absinvestment.pl

ACARTUS [ACA] ACARTUS SA www.acartus.pl

ACREO [ACR] ACREO SA www.acreo.pl

ADASTRA [ADA] AD ASTRA EEXECU-TIVE CHARAKTER SA www.aam.com.pl

ADMASSIVE ADMASSIVE SA www.admassive.pl

ADMIRAL [ADM] ADMIRAL BOATS SA www.admiral-boats.com

ADUMA [ADU] ADUMA SA www.aduma.pl

ADVERTIGO [AVE] ADVERTIGO SA www.ad-music.pl

ADVGRUPA [ADV] GRUPA ADV SA www.grupa-adv.pl

AEDES [AED] AEDES SA www.aedes.pl

AERFINANC [AER] AERFINANCE PLC www.aerfinance.com

AGROLIGA [AGL] AGROLIGA GROUP PLC www.agroliga.com.ua

AGROMA [AGM] AGROMA SA www.agroma.pl

AIRMARKET [AIR] AIR MARKET SA www.airmarketsa.com

AITON [AIT] AITON CALDWELL SA www.aitoncaldwell.pl

AKCEPTFIN [AFC] AKCEPT FINANCE SA www.akceptfinance.pl

ALDA-PDA [ALDA] ALDA SA www.alda.com.pl

ALEJA [ALS] ALEJA SAMOCHO-DOWA SA www.alejasamocho-dowa.pl

ALKAL [ALKA] ALKAL SA www.alkal.pl

ALUMAST [ALU] ALUMAST SA www.alumast.eu

ANALIZY [AOL] ANALIZY ONLINE SA www.analizy.pl

APLINTER [API] A.PL INTERNET SA www.a.pl

APOLLO [APC] APOLLO CAPITAL SA www. apollocapital.pl

APOLONIA [APO] APOLONIA MEDICAL SA www.apoloniastudio.com

APS-PDA [APSA] AUTOMATYKA-PO-MIARY-STEROWANIE SA www.aps.pl

AQUABB [AQU] AQUA SA W BIELSKU-BIAŁEJ www.aqua.com.pl

AQUAPOZ [AQA] AQUA SA www.aqua.poznan.pl

AIR-PDA AGENCJA ROZWOJU INNOWACJI SA www.arisa.com.p

APIS [ASA] APIS SA www.apissa.pl

ARTBIZNES [ABI] Art & Business Maga-zine SA www.artbiznes.pl

ARTEFE [ART] ARTEFE SA www.artefe.com.pl

ARTNEWMED [ANM] ART NEW MEDIA SA www.artnewmedia.pl

ASSETUS [ASS] ASSETUS SA www.assetus.pl

ASTORIA [ACL] ASTORIA CAPITAL SA www.biomedinves-tors.pl

ASTRO [ASR] ASTRO SA www.astroastro.pl

Listed Companies - NewConnect (end of 2012)

285

Fact Book 2013

ATCCARGO [ATA] ATC CARGO SA www.atc-cargo.pl

ATONHT [ATO] ATON-HT SA www.aton.com.pl

ATSENERGY [ATE] ATLANTIS ENERGY SA www.atlantis-energy.pl

AUTOSPA [ASP] Auto-Spa Sp. z o.o. www.auto-spa.pl

ECAUXILIUM [ECA] ECA AUXILIUM KANCELARIA BIEGŁYCH REWIDENTÓW SA www.auxilium.com.pl

AZTEC [AZC] AZTEC INTERNA-TIONAL SA www.aztec-interna-tional.eu

B2BPARTNER [B2B] B2B PARTNER SA www.zakupy.com

BALTICON [BLT] BALTICON SA www.balticon.pl

BALTONA [BAL] PRZEDSIEBIORSTWO HANDLU ZAGRANIC-ZNEGO BALTONA SA www.baltona.pl

BAUMAL [BAU] BAUMAL GROUP SA www.baumal.pl

BBCONSULT [BBA] Beskidzkie Biuro Con-sultingowe SA www. bbc-polska.com

BGE [BGE] BGE SA www.bgesa.pl

BGSENERGY [BGS] BGS ENERGY PLUS A.S. www.bgs-energy.cz

BIOFACTOR [BFC] BIOFACTORY SA www.biofactory.pl

BINARY [BHX] BINARY HELIX SA www.binaryhelix.eu

BIOERG [BER] BIOERG SA www.bioerg.pl

BIOGENED [BGD] BIOGENED SA www.biogened.pl

BIOMAS [BEP] BIOMASS ENERGY PROJECT SA www.bep-sa.pl

BIOMAX [BIM] BIOMAX SA www.biomaxsa.pl

BIOMAXIMA [BMX] BIOMAXIMA SA www.biomaxima.com

BIOMEDLUB [BML] BIOMED-LUBLIN SA www.biomed.lublin.pl

BLACKPOIN [BPN] BLACK POINT SA w.blackpoint.pl

BLIRT [BLR] BLIRT SA www.blirt.pl

BLOOBER [BLO] BLOOBER TEAM SA www.blooberteam.com

BLUETAX [BTG] BLUE TAX GROUP SA www.bluetax.pl

BLUMERANG [BLU] BLUMERANG INVES-TORS SA www.blumerang.pl

BMMEDICAL [BMM] BM MEDICAL SA www.medical.pl

BOA [BOA] BOA SA www.boasa.com.pl

BPC [BPC] BLACK PEARL CAPI-TAL SA www.blackpearlcapi-tal.pl

BPI [BPI] BLU PRE IPO SA www.blupreipo.com.pl BRASTER [BRA] BRASTER SA www.braster.eu

BRIJU [BRI] BRIJU SA www.briju.pl

BROADGATE [BGD] BROAD GATE SA www.broadgate.pl

BUDOSTAL5 [BL5] BUDOSTAL-5 SA w.budostal5.com.pl

BUDUS [BDS] KATOWICKIE PRZEDSIĘBIORSTWO BUDOWNICTWA PRZEMYSŁOWEGO BUDUS SA www.budus.com.pl

C2A [C2A] CALL2ACTION SA www.call2action.pl

CALESCO [CLS] CALESCO SA www.calesco.pl

CASPAR [CSR] CASPAR ASSET MANAGEMENT SA

CCS [CCS] CYFROWE CENTRUM SERWISOWE SA www.ccsonline.pl

CCTOOLS [CCT] CALL CENTR TOOLS SA www.cctools.pl

CERABUD [CER] CERABUD SA www.cerabud.pl

CFBPS [CFB] CF BANKU BPS SA www.cfbps.pl

CLOUD [CLD] CLOUD TECHNOLO-GIES SA www.cloudtechnolo-gies.pl

CODEMEDIA [COD] CODEMEDIA SA www.codemedia.pl

COLEOS [CLO] COLEOS SA www.coleos.pl

COMPERIA [CPL] COMPERIA.PL SA www.comperia.pl

COMPRESS [COM] COMPRESS SA www.compress.com.pl

COOLMARK [CLM] COOL MARKETING SA www.coolmarket-ing.pl

COPERNIC [CRS] COPERNICUS SECU-RITIES SA www.copernicus.pl

CSY [CSY] CSY SA www.csy.ilawa.pl

CUBEITG [CTG] CUBE.ITG SA www.cubeitg.pl

CWPE [CWP] CENTRUM WSPIERI-ANIA PROJEKTÓW EUROPEJSKICH SA www.cwpe.pl

286

NewConnect

DAAH [DAH] DOM AUKCYJNY AB-BEY HOUSE SA www.abbeyhouse.pl

DANKS [DNS] DANKS EUROPE-JSKIE CENTRUM DORADZTWA PODATKOWEGO SA www.danks.com.pl

DASE [DFG] DASE FINANCIAL GROUP SA www.dase.pl

DEKTRA [DKR] DEKTRA SA www.dektra.pl

DEMOLEN [DEM] DE MOLEN SA www.demolen.com.pl

DENTAMDC – PDA [DAMA] DENT-A-MEDICAL SA www.dent-a-medical.com

DEPEND [DEP] DEPEND SA www.depend.pl

DFP [DFP] DFP DORADZTWO FINANSOWE SA www.dfp.pl

DIGITAL [DGL] DIGITAL AVENUE SA www.digitalavenue.pl

DIRECTES [DES] DIRECT ESERVICES SA www.direkt24.biz

DOBRANASZA [DNA] DOBRA NASZA SA www.dobranasza.pl

DOMENOMAN [DOA] DOMENOMANIA.PL SA www.domenomania.pl

DOMEXBUD [DMX] DOMEX-BUD DEVEL-OPMENT SA www.domex-bud.pl

DOMLEK [DML] DOM LEKARSKI SA www.domlekarski.pl

DOMZDROW [DMZ] DOMZDROWIA.PL SA www.domzdrowia.pl

DORADCY24 [D24] DORADCY24 SA www.doradcy24.pl

DRUKPAK [DRU] KUJAWSKIE ZAKŁADY POLIGRA-FICZNE DRUK-PAK SA www.drukpak.pl

DTP [DTP] DTP SA www.dtpartners.pl

DYWILAN [DYW] DYWILAN SA www.dywilan.pl

D&D [DXD] D&D SA www.d-d.com.pl

EASTSIDE [ESC] EASTSIDECAPITOL SA www.eastsidecapital.eu

EASYCALL [ECL] EASYCALL.PL SA www.easycall.pl

EBC [EBC] EBC SOLICITORS SA www.ebcsolicitors.pl

ECOTECH [ECO] ECOTECH POLSKA SA www.ecotech.com.pl

EDISON [EDN] EDISON SA www.edison.pl

EFICOM [EFI] EFICOM SA www.eficom.pl

EGB [EGB] EGB INVESTMENTS SA www.egb.pl

EKANCELAR [EKA] E-KANCELARIA GRUPA FINANSOWA SA www.e-kancelaria.com

EKIOSK [EKSA] E-KIOSK SA www.e-kiosk.pl

EKOBOX [EBX] EKOBOX SA www.ekobox.pl

EKOKOGEN [EKG] EKOKOGENERACJA SA www.ekokogenerac-ja.com

EKOPOL [EGH] EKOPOL GÓRNOŚLĄSKI HOLDING SA www.eg.com.pl

ELEMENTAL [EMT] ELEMENTAL HOLD-ING SA www.elemental-holding.pl

ELKOPNRG [ENR] ELKOP ENERGY SA www.elkopenergy-sa.pl

EMCAPITAL [ECP] EMMERSON CAPI-TAL SA www.emmersoncapi-tal.pl

EMMERSON [EMM] EMMERSON SA www.emmerson.pl

EMONT [ELM] ELEKTROMONT SA www.elektromont.pl

EMPORIUM [EMR] EMPORIUM SA www.emporiumsa.com.pl

EMUZYKA [EMU] E-MUZYKA SA www.e-muzyka.pl

EONET [EON] EO NETWORKS SA www.eo.pl

EPICTURES - PDA [EAPA] EAST PICTURES SA www.eastpictures.pl

EPIGON [EPI] EPIGON SA www.epigonsa.pl

ERS [ERS] EUROSYSTEM SA www.eurosystem.com.pl

ESKIMOS [ESK] ESKIMOS SA www.eskimossa.pl

ESOTIQ [EAH] ESOTIQ&HENDERSON SA www.esotiqhender-son.com

ESPEROTIA [EEI] ESPEROTIA ENERGY INVESTMENTS SA www.esperotia.pl

EUROSNACK [ECK] OSNACK SA www.eurosnack.pl

EUROTAX [ETX] EURO-TAX.PL SA www.euro-tax.pl

EXAMOBILE [EXA] EXAMOBILE SA www.examobile.com

EXDEBT [EXD] EX-DEBT SA. www.exdebt.pl

EZO [EZO] EZO SA www.ezo-recycling.pl

FABRFORMY [FFO] FABRYKA FORMY SA www.fabryka-formy.pl

FACHOWCY [FAV] FACHOWCY.PL VEN-

287

Fact Book 2013

TURES SA www.fachowcy.pl

FARM51 [F51] THE FARM 51 GROUP SA www.thefarm51.com

FHDOM [FHD] FUNDUSZ HIPOTEC-ZNY DOM SA www.funduszhipotec-zny.pl

FINHOUSE [FIN] FINHOUSE SA www.finhouse.pl

FININT [FIP] FINANCIAL INTERME-DIARIES POLSKA SA www.fipsa.pl

FITEN [FIN] FITEN SA www.fiten.pl

FLUID [FLD] FLUID SA www.fluid.pl

FLYPL [FLY] FLY.PL SA www.fly.pl

FMOZAROW-PDA [FMOA] FABRYKA MASZYN OŻARÓW SA www.fm-ozarow.pl

FONECO [FNE] FON ECOLOGY SA www.fon-sa.pl

FOREVEREN [FOR] FOREVER ENTER-TAINMENT SA www.forever-enter-tainment.com

FORPOSTA [FDO] FORPOSTA SA www.forposta.pl

FUTURIS [FUT] FUTURIS SA www.futuris.com.pl

GALVO [GAL] GALVO SA www.galvo.com.pl

GCINVEST [GCI] GC INVESTMENT SA www.gcinvest.pl

GENERGY [GNR] GENESIS ENERGY SA www.divicom.pl

GENOMED [GEN] GENOMED SA www.genomed.pl

GEOINVENT [GEO] GEOINVENT SA www.geoinvent.com.pl

GKSKAT [GKS] GKS GIEKSA KATO-WICE SA www.gieksa.pl

GLOBAL [GTR] GLOBAL TRADE SA www.global-trade.pl

GMK [GMK] GRUPA MENNICE KRAJOWE SA www.gmksa.pl

GOLAB [GOL] GOLAB SA www.golabsa.pl

GOLDWYN [GCL] GOLDWYN CAPITAL SA www.goldwyncapital.pl

GONTYNIEC [BRO] BROWAR GON-TYNIEC SA www. browarc-zarnkow.pl

GOTFI [GTF] GO TFI SA www.gounited.pl

GPFCAUSA –PDA [GPFA] GRUPA PRAWNO FINANSOWA CAUSA SA www.gpfcausa.pl

GPPI [GPP] GRUPA PACTOR - POTEMPA INKASSO SA www.gppi.pl

GRAPHIC [GRP] GRAPHIC SA www.graphic.pl

GREENENER [GRE] D.B.B. GREEN EN-ERGY SA www.dbbgreen.pl

GREMPCO [GRM] GREMPCO SA www.grempco.com

GRJAGUAR [GJA] GRUPA JAGUAR SA www.grupajaguar.pl

GRODNO [GRN] GRODNO SA www.grodno.pl

GRUPAHRC [HRC] GRUPA HRC SA www.hrc.com.pl

GRUPAREC [GRC] GRUPA RECYKL SA www.gruparecykl.pl

GWARANT [GWR] GWARANT AGENCJA OCHRONY SA www.gwarant.pl

HEFAL [HEF] HEFAL SERWIS SA www.hefalserwis.pl; www.hefal.pl

HORTICO [HOR] HORTICO SA www.hortico.pl

HOTBLOK [HOT] HOTBLOK SA www.hotblok.pl

HURTIMEX [HRT] HURTIMEX SA www.hurtimex.com.pl

HYDRAPRES [HPS] HYDRAPRES SA www.hydrapres.pl

I3D [I3D] I3D SA www.isd.pl

IAI [IAI] IAI SA www.iai-sa.com

IBCPOLSKA [IBC] IBC POLSKA F&P SA www.grupaibc.pl

ICMVISION [ICM] ICOM VSION HOLD-ING AS www.icomvision.com

ICPGROUP [ICP] ICP GROUP SA www.icpgroup.pl

ICPD [ICD] INTERCAPITAL PROP-ERTY DEVELOPMENT www.icpd.bg

IGORIA [IGT] IGORIA TRADE SA www.igoriatrade.com

IMS [IMS] INTERNET MEDIA SERVICES SA www.ims.fm

IMMOFUND [IMF] IMMOFUND SA www.immofundsa.pl

INBOOK-PDA [INBA] INBOOK SA www.inbook.pl

INCANA [ICA] INCANA SA www.incana.pl

IDH [IDH] IDH SA www.indexcoperni-cus.com

INDEXMEDI [INX] INDEXMEDICA SA www.indexmedica.pl

INFOSYS [IFS] INFOSYSTEMS SA www.infosystems.pl

288

NewConnect

INNOGENE [IGN] INNO-GENE SA www.inno-gene.eu

INPOINT [IPT] IN POINT SA www.in-point.pl

INTELIWIS [ITL] INTELIWISE SA www.inteliwise.com

IU [IUS] INTERNET UNION SA www.internetunion.pl

INTERNITY [INT] INTERNITY SA www.internitysa.pl

INTWORKS [IWS] INTERNET WORKS SA www.internetworks.pl

INVENTI [IVT] INVENTI SA www.inventi-power.pl

INVESTREM [ITX] INVEST-REMEX SA www.investremex.pl

INVICO [IVC] INVICO SA www.pragmatrade.pl

INVISTA [INV] INVISTA SA www.invista.com.pl

INWAZJA [IPC] INWAZJAPC SA www.inwazjapc.pl

INWESTPL [INW] INWESTYCJE.PL SA www.inwestycje.pl

IPO [ISAA] IPO SA www.ipo.pl

IPODS [IOD] IPO DORADZTWO STRATEGICZNE SA www.ipo.com.pl

ISIAG [ISG] INSTYTUT SZKOLEN I ANALIZ GOSP-ODARCZYCH SA www.instytutsiag.pl

IZOBLOK [IZB] IZO BLOK SA www.izo-blok.pl

JANTAR [JAN] JANTAR DEVELOP-MENT SA www.jantardevelop-ment.pl

JDB [JDB] JURAJSKI DB SA www.jdbsa.pl

JRINVEST [JRI] JR INVEST SA www.jrinvest.pl

KBJ [KBJ] KBJ SA www.kbj.com.pl

KCSP [KCS] KCSP SA www.kcsp.pl

KKHERBAL [KKH] K&K HERBAL PO-LAND SA www.kkpoland.pl

KLON [KLN] KLON SA www.klon.net.pl

KME[KME] KANCELARIA ME-DIUS SA www. kancelariame-dius.pl

KOMFORTKM [KKM] KOMFORT-KLIMA SA www.komfort-klima.pl

KOMPLEKS [KMS] GRUPA KONSULTIN-GOWO-INZYNIERYJ-NA KOMPLEKS SA www.kompleks.pl

KOPAHAUS [KOP] KORPORACJA BU-DOWLANA KOPA-HAUS SA www.kopahaus-bar-linek.pl

KORBANK [KOR] KORBANK SA www.korbank.pl www.investor.kor-bank.pl

KUPIEC [KPC] KUPIEC SA www.kupiec.az.pl

LANGLOO [LAN] LANGLOO.COM SA www.langloo.com

LASERMED [LSR] LASER-MED SA www.laseroterapia.bydgoszcz.pl

LAURENPES [LPS] LAUREN PESO POL-SKA SA www.laurenpeso.pl

PREMETINV [PMI] PRECIOUS METALS INVESTMENTS SA www.legalstream.pl

LESNERUNO [LES] LEŚNE RUNO SA www.lesneruno.pl

LETUS [LET] LETUS CAPITAL SA www.letuscapitalsa.com

LIBERTY [LTG] LIBERTY GROUP SA. www.libertygroup.pl

LOKATYBUD [LBD] LOKATY BUDOW-LANE SA www.lokatybudow-lane.pl

LSTECHHOM [LSH] LS TECH HOMES SA www.lstechhomes.com

LUG [LUG] LUG SA www.lug.com.pl

LUXIMA [LUX] LUXIMA SA www.luxima.com.pl

LZMO [LZM] LZMO SA www,lzm.pl

M4B [M4B] M4B SA www.m4b.pl

M10 [M10] M10 SA www.m10sa.pl

MABION [MAB] MABION SA www.mabion.eu

MADKOM [MAD] MADKOM SA www.madkom.pl

MAGNIFICO [MGF] MAGNIFICO SA www.magnifico.com.pl

MAKOLAB [MLB] MAKOLAB SA www.makolab.com

MAKORA [MRA] MAKORA SA www.makora.com

MALKOWSKI [MMA] MAŁKOWSKI-MARTECH SA www.malkowski.pl

MARKA [MRK] MARKA SA www.markasa.pl

MARSOFT [MAR] MARSOFT SA www.marsoftsa.pl

MAXIMUS [MAX] MAXIMUS SA www.maximussa.pl

MAXIPIZZA [MXP] MAXIPIZZA SA www.maxipizza.pl

MBFACTORY [MBF] MOBILE FACTORY SA www.mobilefactory.pl

MBPARTNER [MBP] MOBILE PARTNER SA www.mobilepartner.pl

289

Fact Book 2013

MDEVELOP [MDE] M DEVELOPMENT SA www.m-develop-ment.pl

MEDIACAP [MCP] MEDIACAP SA www.emlab.pl

MEDIANPOL-PDA [MDNA] MEDIAN POLSKA SA www.medianpolska.pl

MEDICALG [MGD] MEDICALGORITH-MICS www.medicalgorith-mics.pl

MERA [MER] MERA SCHODY SA www.mera.pl

MERIT [MEI] MERIT INVEST SA www.meritinvest.pl

MEW [MSA] MEW SA www.mewsa.pl

MGAMES [MGS] MACRO GAMES SA www.macrogames.pl

MGMSYS [MGM] MGM SA www.mgm.com.pl

MILKPOL [MLP] MILKPOL SA www.milkpol.com.pl

MINERAL [MND] MINERAL MIDRANGE SA www.mineralmid-range.com

MINOX [MNX] MINOX SA www.minox.com.pl

MMCPL [MMC] MM CONFERENCES SA www.mmcpolska.pl

MOBINI [MOB] MOBINI SA www.mobini.pl

MODE [MOE] MODE SA www.mode360.eu

MODECOM [MOD] MODECOM SA www.modecom.pl

MOMO [MOM] MOMO SA www.momo.com.pl

MONDAY [MDV] MONDAY DEVELOP-MENT SA www.mondaydevel-opment.pl

MONTUHOLD [MTH] MONTU HOLDING SA www.montu.pl

MORIZON [MZN] MORIZON SA www.morizon.pl

MOSTALWRO MOSTOSTAL WROCŁAW SA www.mostostal.wroclaw.pl

MOTORICUS [MTR] MOTORICUS SA www.oponix.pl

MPAY [MPY] MPAY SA www.mpay.pl

MPLVERBUM [VER] MPL VERBUM SA www.verbum.com.pl

MTC [MTC] MOTOR TRADE COM-PANY SA www.mtcsa.pl

MW TENIS SA www,mwtenis.pl

NANOTEL [NAN] NANOTEL SA www.nanotel.pl

NAVIMORIN [NIN] NAVIMOR-INVEST SA www.navimorinvest.eu

NEMEX [NMX] NEMEX SA www.nemex.pl

NFPL [NFP] NOWOCZESNA FIRMA SA www.nf.pl

NICOGAMES [NGS] NICOLAS GAMES SA www.nicolasgames.pl

NOTORIA [NTS] NOTORIA SERWIS SA www.notoria.pl

DIGATE [DGT] DIGATE SA www.digate.pl

NOVIAN [NVN] NOVIAN SA. www.novian.pl

NWAI [NWA] NWAI DOM MAKLER-SKI SA www.nwai.pl

OEM [OEM] OSTATNIE MIEJSCA SA www.oemsa.pl

ONERAY [ORI] ONERAY INVEST-MENT SA www.oneray.pl

ONICO [ONC] ONICO SA www.onico.pl

OPENNET [OPE] OPEN-NET SA www.open.net.pl

OPTIZENLB [OPT] OPTIZEN LABS SA www.optizenlabs.com

ORGANIC [ORG] ORGANIC FARMA ZDROWIA SA www.organicmarket.pl

ORIONNV [ORN] ORION INVESTMENT SA www.orioninvest-ment.pl

ORPHEE [ORP] ORPHEE SA www.orphee-medical.com

ORZLOPONY [ORL] ORZEŁ SA www.salon-opon.com

QUART [QRT] QUART DEVELOP-MENT SA www.quart.com.pl

PAKADEMIA [PAK] POLSKA AKADEMIA RACHUNKOWOŚCI SA www.par.edu.pl

PARTEX [PAR] PARTEX SA www.listwy.com

PARTNER [PRN] PARTNER-NIERU-CHOMOSCI SA www.partnernieru-chomosci.com.pl

PCZ [PCZ] PCZ SA www.pczsa.pl www.pcz,com.pl

PFH [PFH] POLSKI FUNDUSZ HIPOTECZNY SA www.pfh.pl

PGSSOFT [PSW] PGS SOFTWARE SA www.pgs-soft.com

PHARMENA [PHR] PHARMENA SA www.pharmena.com.pl

PHOENIX [PHO] PHOENIX ENERGY A.S. www.phoenixnen-ergy.as

290

NewConnect

PILAB [PIL] PiLAB SA www.pilab.pl

PLANETSOF [PSF] PLANET SOFT SA www.planetsoft.pl

PLASMA [PSM] PLASMA SYSTEM SA www.plasmasystem.pl

PLATIGE [PLI] PLATIGE IMAGE SA www.platige.com

PLAYMAKER [PMK] PLAYMAKERS SA www.playmakers.tv

POLMAN [PLM] POLMAN SA www.polman.pl

POLNOCNR [PNR] PÓŁNOC NIERUCHOMOŚCI SA www.polnoc.pl

POLSKIHR [PLHA] POLSKI HOLDING REKRUTACYJNY SA www.polskihr.pl

POLTRONIC [PTN] POLTRONIC SA www.poltronic.eu

POSITIVE [POS] POSITIVE ADVISORY SA www.positiveadvi-sory.pl

PPG [PPG] PLATINUM PROPER-TIES GROUP SA www.ppgsa.pl

PPRICE [PPR] POWER PRICE SA www.powerpricesa.pl

PREFABET [PBB] PREFABET-BIAŁE BŁOTA SA www.prefabet-bb.com.pl

PREMFOOD [PFR] PREMIUM FOOD RESTAURANTS SA www.sushi77.com

PRESTO-PDA [PSTA] PRESTO SA www.presto-kominy.pl

PROGRES [PRG] PROGRES INVEST-MENT SA www.progresinvest-ment.com

PROLOG [PRL] PRO-LOG SA www.prolog.pl

PROXYAD [PXY] PROXYAD SA www.proxyad.pl

PRYMUS [PRS] PRYMUS SA www.prymussa.pl

PSWCAPITA [PCA] PSW CAPITAL SA www.pswcapital.pl www.pswholding.pl

RAJDY4X4 [4X4] RAJDY 4X4 SA www.rajdy 4x4.pl

RCUNION [RCU] R&C UNION SA www.rcunion.pl

READGENE [RDG] READ-GENE SA www.read-gene.com

REKLAPL [RPL] PSA CAPITAL SA www.psacapital.com

RELIGADEV-PDA [RELA] RELIGA DEVELOP-MENT SA www.religa.com.pl

REMEDIS [REM] REMEDIS SA www.remedis.eu

REVITUM [REV] REVITUM SA- CEN-TRUM DIAGNOSTYKI ORGANIZMU www.revitum.pl

RICHTER [RMS] RICHTER MED SA www.richtermed.pl

ROBINSON [RBS] ROBINSON EUROPE SA www.robinson.pl

ROCCA [RCA] ROCCA SA www.rocca.pl

RODAN [ROD] RODAN SYSTEMS SA www.rodan.pl

ROTOPINO [ROT] ROTOPINO.PL SA www.marketo.com

ROVITA [ROV] ROVITA SA www.rovita.com.pl

RSY [RSY] RSY SA www.rsy.ilawa.pl

RUCHCHORZ [RCW] RUCH CHORZÓW SA www.ruchchorzow.com.pl

RUNICOM [RUN] RUNICOM SA www.runicom.pl

S4E [S4E] S4E SA www.s4e.pl

SAKANA [SKN] SAKANA SA www.sakana.pl

SARE [SAR] SARE SA www.saresa.pl

SCANMEDMM [SCM] SCANMED MULTIME-DIS SA www.multidedis.pl

SCOPAK [SCO] SCO-PAK SA www.scopak.com.pl

SEKA [SEA] SEKA SA www.seka.pl

SELVITA [SLV] SELVITA SA www.selvita.pl

SEVENET [SEV] SEVENET SA www.sevenet.pl

SFD [SFD] SFD SA www.sfdsa.pl

SFKPOLKAP [SFK] SKOCZOWSKA FAB-RYKA KAPELUSZY POLKAP SA www.polkap.pl

SILVACG [SCG] SILVA CAPITAL GROUP SA www.mwtenis.pl

SITE [STE] SITE SA www.site.pl

SLR [SLR] SOCIALIZER SA www.socializer.pl

SMOKESHOP [SMKA] SMOKE SHOP SA www.smoke.pl

SMSKREDYT [SMS] SMS KREDYT HOLD-ING SA www.smsholding.pl

SMT [SMT] SMT SOFTWARE SA www.smtsoftware.com

SOBET [SOB] SOBET SA www.sobet.pl

SPC [SPC] SUPER PREMIUM CARS SA www.spcsa.pl

291

Fact Book 2013

SSI [SSI] SECURITY SYSTEM INTEGRATION SA www.ssisa.pl

STANUSCH [STT] STANUSCH TECH-NOLOGIES SA www.stanusch.com

STARFIT-PDA [SFIA] STAR FITNESS SA www.star-fitness.pl

STARKDEV [STR] STARK DEVELOP-MENT SA www.starkdev.pl

STEMCELLS [SCS] STEM CELLS SPIN SA www.stemcellsspin.com.pl

STERGAMES [SGM] STERGAMES SA www.stergames.com

STIGROUP [STI] STI GROUP SA www.stigroup.pl

STOPKLA [STK] STOPKLATKA SA www.stopklatka-sa.pl

SUNEX [SNX] SUNEX SA www.sunex.pl

SUNTECH [SUN] SUNTECH SA www.suntech.pl

SURFLAND [SSK] SURFLAND SYS-TEMY KOMPUTER-OWESA www.ssk.com.pl

SWISSPSM [SWP] SWISSMED PRYWAT-NY SERWIS MEDYC-ZNY SA www.swissmedpsm.pl

SYMBIO [SYM] SYMBIO POLSKA SA www.symbio.pl

SYNEKTIK [SNT] SYNEKTIK SA www.synektik.com.pl

SYNKRET [SYN] SYNKRET SA www.synkret.pl

SZAR [SZR] SZAR SA www.szar.pl

T2INVEST [T2I] T2 INVESTMENT SA www.t2investment.pl

TABLEO [TAB] TABLEO SA www.tableo.pl

TAMEX [TOS] TAMEX OBIEKTY SPOPRTOWE SA www.tamex.com.pl

TAXNET [TXN] TEX-NET SA www.tex-net.pl

TAXUSFUND [TXF] TAXUS FUND SA www.taxusfund.pl

TECHMADEX [TDX] TECHMADEX SA www.techmadex.com

TELEMEDPL [TMP] TELEMEDYCYNA POLSKA SA www.telemedycyn-apolska.pl

TELESTO [TLO] TELESTO SA www.telestosa.pl

TELESTR [TLS] TELESTRADA SA www.telestrada.pl

TELIANI [TLVA] TELIANI VALLEY POLSKA SA www.telianivalley.pl

TERMOEXP [TME] TERMOEXPERT SA www.termoexpert.com.pl

TERMOREX [TRR] TERMO-REX SA www.termo-rex.pl

TERRA [TRA] TERRA SA www.dom-produk-cyjny-terra.pl

TILIA [TIL] TILIA SA www.tilia.com.pl

TPH _ PDA [TPH] TELE-POLSKA HOLD-ING SA www.tphsa.pl

TRICEPS [TRC] TRICPES.PL SA www.hurt.triceps.pl

TROMEDIA [TRO] TRO MEDIA SA www.tro.pl

TWIGONET [TWI] TWIGONET EUROPE SA www.twigonet.com

UBOATLINE [UBT] UBOAT-LINE SA www.uboat.pl

UNIMOTGAZ UNIMOT GAZ SA www.unimotgaz.pl

UNITED [UTD] UNITED SA www.unitedsa.pl

URLOPYPL [URL] URLOPY.PL www.urlopy.pl

VCP [VCP] VENTURE CAPITAL POLAND SA www.vcpoland.pl

VEDIA [VED] VEDIA SA www.vedia.pl

VELTO [VEL] VELTO SA www.velto.pl

VENITI [VNT] VENITI SA www.veniti.pl

VENO [VEN] VENO SA www.veno-sa.pl

VENTUREIN [VTI] VENTURE INCUBA-TOR SA www.ventureincuba-tor.pl

VENTURION [VIF] VENTURION INVEST-MENT FUND SA www.vifsa.pl

VERBICOM [VRB] VERBICOM SA www.verbicom.pl

VGROUP [VGS] V GROUP SA www.v-group.pl

VIAGUARA [VGR] VIAGUARA SA www.viaguara.com

VIDIS [VDS] VIDIS SA www.vidis.pl

VISION [VIV] VIRTUAL VISION SA www.virtualvision.pl

VIVID [VVD] VIVID SA www.vivid.pl

WAKEPARK [WPK] WAKEPARK SA www.wakeparkwro-claw.pl

WASPOL [WAP] WASPOL SA www.waspol.info.pl

WBAY [WBY] WEALTH BAY SA www.wealthbay.pl

WDBBU [WDB] WDB BROKERZY UBEZPIECZENIOWI SA www.wdbsa.pl

292

NewConnect

WDMSA [WDM] WROCŁAWSKI DOM MAKLERSKI SA www.wdmsa.pl

WEEDO-PDA [WDOA] WEEDO SA www.weedosa.pl

WERTHHOLZ [WHH] WERTH-HOLZ SA www.werth-holz.pl

WESTREAL [WRE] WEST REAL ESTATE SA www.westrealestate.pl

WEGLOPEX [WPX] WĘGLOPEX HOLD-ING SA www.pinotcaro.com

WIDOKEN [WDK] WIDOK ENERGIA SA www.widokenergia.pl

WIERZYCL [WRL] WIERZYCIEL SA www.wierzycielsa.pl

WINDMOBIL [WMO] WIND MOBILE SA www.windmobile.pl

WODKAN [WOD] WODKAN PRZEDSIE-BIORSTWO WODO-CIAGÓW I KANALIZACJI SA www.wodkan.com.pl

XPLUS [XPL] XPLUS SA www.xplus.pl

XSYSTEM [XSM] XSYSTEM SA www.xsystem.pl

YELLOWHAT [YEL] YELLOW HAT SA www.yellowhat.pl

YOURIMAGE [YOU] YOUR IMAGE SA www.yourimage.pl

YURECO [YCO] YURECO SA www.rdi.pl

ZOC [ZOC] ZOO CENTRUM SA www.zoo-centrum.pl

ZWG [ZWG] ZWG SA www.zwg.com.pl

293

CATALYST

The WSE debt instrument market called CATALYST was launched on 30 September 2009. This is the first organised debt instru-ments market in Poland. It is maintained on transaction platforms owned by the War-saw Stock Exchange (regulated market and ATS) and BondSpot (also regulated market and ATS). Catalyst is designed for trading in municipal and corporate bonds, as well as mortgage bonds and other debt instru-ments. Within Catalyst, retail Treasury bonds are also traded on the regulated market.

Catalyst was designed as a platform to fa-cilitate financing for local government units and enterprises and to enable investments in such instruments on an efficient, safe and transparent public market. With its architec-ture, Catalyst can serve the needs of diffe-rent investor groups: wholesale and retail investors, as well as institutional and indivi-dual investors.

Information about CATALYST

Legal foundations of Catalyst

The key regulations which determine the le-gal foundations for Catalyst operations are given below: The Act on Bonds, The Act on Mortgage Bonds and

Mortgage Banks, The Act on Public Offering, Conditions

Governing the Introduction of Financial Instruments to Organised Trading, and on Public Companies,

The Act on Trading in Financial Instru-ments.

Catalyst Operating Rules define its main rules of operation, including authorisation of debt instruments, admission of debt in-struments to trading in all market segments, participation in trading, issuers’ mandatory disclosures etc. Specific regulations con-cerning the trading in debt instruments on Catalyst are defined in:

WSE Rules, Specific Rules of Exchange Trading, Rules of Non-exchange Regulated

Trading, Specific Rules of Non-exchange Regula-

ted Trading, Rules of the Alternative Trading System

operated by the WSE, Rules of the Alternative Trading System

operated by BondSpot.

All of the currently applicable legal docu-ments relating to Catalyst can be found on its website (www.wsecatalyst.pl).

297

Fact Book 2013

Established three years earlier as a debt instrument market, Catalyst recorded sig-nificantly growth in 2012. Together with the State Treasury, the total number of issuers on Catalyst reached 156 at the end of 2012 (100 at the end of 2011). Issuers included 12 local governments, 121 enterprises and 22 co-operative banks.

At the end of 2012, a total of 325 series of non-treasury debt instruments were listed, and 23 additional series were authorised. The average turnover per session nearly do-ubled, reaching PLN 4.5 million.

At the end of 2012, the total nominal value of all debt instruments (treasury and non--treasury) listed on Catalyst reached PLN 567.3 billion versus PLN 531.6 billion in 2011. The nominal value of non-treasury debt instruments listed on that market at the end of 2012 totalled PLN 52.3 billion, which represented 30.9% growth since the end of 2011.

2012 on Catalyst

298

CATALYST

No. ISIN Code Instrument Issuer Market /¹

Corporate bonds

1 PLNFI0600028 06N0213 NFI MAGNA POLONIA WSE ATS BS ATS

2 PLADMBT00021 ADM1212 ADMIRAL BOATS WSE ATS

3 PLAOWFK00027 AOW0214 AOW FAKTORING WSE ATS BS ATS

4 PLAOWFK00019 AOW0512 AOW FAKTORING WSE ATS BS ATS

5 PLARCHM00016 ARH0713 ARCHICOM WSE ATS BS ATS

6 PLNFI1200091 BBD0213 BBI DEVELOPMENT WSE ATS BS ATS

7 PLNFI1200109 BBD0214 BBI DEVELOPMENT WSE ATS BS ATS

8 PLNFI1200117 BBI0214 BBI DEVELOPMENT WSE ATS BS ATS

9 PLNFI1000079 BBZ0312 BBI ZENERIS WSE ATS BS ATS

10 PLNFI1000087 BBZ0712 BBI ZENERIS WSE ATS BS ATS

11 PL0000500039 BGK0213 Bank Gospodarstwa Krajowego BS ATS




15 PLBDSTL00041 BL50313 BUDOSTAL-5 WSE ATS




19 PLNFI0400056 BLI1213 BLACK LION NFI WSE ATS BS ATS

20 PLBOS0000050 BOB1213 BANK OCHRONY ŚRODOWISKA BS ATS

21 PLBOS0000068 BOC1213 BANK OCHRONY ŚRODOWISKA BS ATS

22 PLBOS0000076 BOD0521 BANK OCHRONY ŚRODOWISKA BS ATS

23 PLBOS0000084 BOE1014 BANK OCHRONY ŚRODOWISKA WSE ATS BS ATS

24 PLBOS0000092 BOF1014 BANK OCHRONY ŚRODOWISKA WSE ATS BS ATS

25 PLBPCZT00015 BPO0721 BANK POCZTOWY WSE ATS

26 PLBSTII00012 BS20613 BEST II NS FIZ WSE ATS BS ATS

27 PLBSTII00020 BS20614 BEST II NS FIZ WSE ATS BS ATS

28 PLBSTNS00011 BS30212 BEST III NS FIZ WSE ATS BS ATS







Debt instruments listed on Catalyst in 2012

299

Fact Book 2013


35 PLBEST000051 BST0512 BEST WSE ATS BS ATS





40 PLCDRL000019 CDL1014 CDRL WSE ATS

41 PLEFH0000014 EFHOHA EUROPEJSKI FUNDUSZ HIPOTECZNY BS RM

42 PL0000400099 EIB0526 EUROPEJSKI BANK INWESTYCYJNY WSE RM

43 PL0000400024 EIB0617 EUROPEJSKI BANK INWESTYCYJNY WSE RM

44 PLELECT00047 ELC0413 ELECTUS WSE ATS

45 PLERBUD00046 ERB0714 ERBUD BS ATS

46 PLFSTFC00020 FFI0113 FAST FINANCE WSE ATS

47 PLFERRO00040 FRO0416 FERRO WSE ATS BS ATS

48 PLFRRTM00018 FRR0514 FERRATUM CAPITAL POLAND WSE ATS

49 PLGHLMC00016 GHE0714 GHELAMCO INVEST BS ATS

50 PLGHLMC00024 GHI0714 GHELAMCO INVEST BS ATS

51 PLNOBLE00033 GNB0618 GETIN NOBLE BANK BS ATS




55 PLGANT000196 GND0312 GANT DEVELOPMENT WSE ATS BS ATS



58 PLNOBLE00066 GNO0917 GETIN NOBLE BANK BS ATS

59 PLGANT000139 GNT0312 GANT DEVELOPMENT WSE ATS BS ATS


61 PLGANT000147 GNT0513 GANT DEVELOPMENT WSE ATS





66 PLGANT000188 GNT1212 GANT DEVELOPMENT WSE ATS

67 PL0000500021 IDS1018 Bank Gospodarstwa Krajowego WSE RM BS RM

68 PL0000500070 IDS1022 Bank Gospodarstwa Krajowego WSE RM BS RM

69 PLIIF0000013 IIF0912 IIF WSE ATS

Debt instruments listed on Catalyst in 2012 (contd.)

300

CATALYST


70 PLIPFIP00025 IPF0615 IPF INVESTMENTS POLSKA BS ATS

71 PL0000500013 IPS1014 Bank Gospodarstwa Krajowego WSE RM BS RM

72 PL0000500062 IWS0645 Bank Gospodarstwa Krajowego WSE RM BS RM

73 PLKRINK00063 KRI0414 KREDYT INKASO BS ATS

74 PLKRINK00071 KRI0416 KREDYT INKASO BS ATS

75 PLKRK0000085 KRU0115 KRUK WSE ATS





80 PLLCCRP00033 LCC0414 LC CORP BS ATS

81 PLMOBRK00039 MBR0814 MO-BRUK WSE ATS BS ATS

82 PLMCIMG00137 MCI0314 MCI MANAGEMENT WSE ATS BS ATS



85 PLMERA000027 MER0412 MERA S.A. WSE ATS

86 PLMERA000035 MER0614 MERA S.A. WSE ATS

87 PLMKDOM00010 MKD0713 MAK DOM WSE ATS BS ATS

88 PLMLMDP00049 MMP0416 MULTIMEDIA POLSKA BS ATS

89 PLMLMDP00031 MMP1115 MULTIMEDIA POLSKA BS ATS

90 PLMEWSA00027 MSA0613 MEW WSE ATS BS ATS

91 PLMEWSA00035 MSA1013 MEW WSE ATS

92 PLMRVPL00057 MVF1213 MARVIPOL WSE ATS BS ATS

93 PLMRVPL00065 MVG1213 MARVIPOL WSE ATS BS ATS

94 PLMRVPL00073 MVP0114 MARVIPOL WSE ATS BS ATS




98 PLNAVIG00015 NAV0213 NAVI GROUP WSE ATS




102 PLMZCOR00019 ORK0312 ORGANIKA WSE ATS BS ATS

103 PLMZCOR00027 ORK0712 ORGANIKA WSE ATS BS ATS

104 PLORZL000068 ORL0412 ORZEŁ WSE ATS BS ATS


301

Fact Book 2013


105 PLORZL000100 ORL0814 ORZEŁ WSE ATS BS ATS

106 PLOSHEE00018 OSH1012 OSHEE POLSKA WSE ATS

107 PLPRMCM00014 PCM0312 PRIME CAR MANAGEMENT WSE ATS BS ATS

108 PLPRMCM00022 PCM0314 PRIME CAR MANAGEMENT WSE ATS BS ATS

109 PLPCCRK00019 PCR0613 PCC ROKITA WSE RM

110 PLPCZ0000019 PCZ0514 PCZ WSE ATS

111 XS0545031642 PKO1015 PKO Finance AB WSE ATS BS ATS

112 PLPLKMT00015 PLK0915 POLKOMTEL FINANCE AB (PUBL) BS ATS

113 PLGFPRE00057 PRF0413 Pragma Faktoring WSE ATS

114 PLPRGNK00033 PRI0912 PRAGMA INKASO WSE ATS

115 PLPRGNK00041 PRI1212 PRAGMA INKASO WSE ATS

116 PLPSPRT00018 PSG0512 POLSPORT GROUP WSE ATS

117 PLNFI0500038 RBC0413 RUBICON PARTNERS NFI WSE ATS BS ATS

118 PLNFI0500046 RBC0912 RUBICON PARTNERS NFI WSE ATS BS ATS

119 PLREMDS00062 REM0112 REMEDIS A



122 PLREMDS00104 REM0712BK1 REMEDIS A

123 PLRNSER00011 RNA0414 RONSON EUROPE BS ATS

124 PLRNSER00029 RNB0414 RONSON EUROPE BS ATS

125 PLRNKPR00030 RNK1213 RANK PROGRESS WSE ATS BS ATS

126 PLROBYG00073 ROB0415 ROBYG WSE ATS BS ATS




130 PLRDNST00035 ROD0813 RODAN SYSTEMS WSE ATS

131 PLSCOPK00038 SCO0713 SCO-PAK WSE ATS

132 PLSCOPK00046 SCO0813 SCO-PAK WSE ATS

133 PLSCNDV00017 SDV0314 SCAN DEVELOPMENT WSE ATS BS ATS

134 PLMILOP00028 SIO1213 SIÓDEMKA BS ATS

135 PLSOLVC00018 SOL0412 SOLVECO WSE ATS

136 PLTRKPL00048 TRK1213 TRAKCJA - TILTRA POLSKA WSE ATS

137 PLTRUST00010 TRU0614 TRUST WSE ATS BS ATS

138 PLVEDIA00037 VED0613 VEDIA WSE ATS

139 PLWDKEN00042 WDK0112 WIDOK ENERGIA SP Z O. O. WSE ATS


302

CATALYST


140 PLWDKEN00059 WDK0512 WIDOK ENERGIA SP Z O. O. WSE ATS

141 PLWDENG00024 WDK0712 WIDOK ENERGIA SA WSE ATS

142 PLELPO000099 WIK0713 WIKANA S.A. BS ATS

143 AT0000A0PCA4 WXF0514 Warimpex Finanz- und Beteiligungs AG BS ATS

144 PLZPS0000015 ZPS1212 ZPS KRZĘTLE WSE ATS

Co-operative bonds

1 PLBBSDR00012 BBS1225 BS-BBS DARŁOWO WSE ATS

2 PLBSPOM00010 BOM0221 BS OSTRÓW MAZOWIECKA WSE ATS

3 PLBSPLS00013 BPL0421 BS PŁOŃSK WSE ATS

4 PLBPS0000032 BPS0718 BPS WARSZAWA WSE ATS BS ATS

5 PLBPS0000024 BPS0720 BPS WARSZAWA WSE ATS

6 PLBSPT000017 BPT0620 BS-HEXABANK WSE ATS

7 PLBSBR000023 BRB0425 BS BIAŁA RAWSKA WSE ATS

8 PLPBSC000016 BSC0620 BS-PBS CIECHANÓW WSE ATS

9 PLPBSC000024 BSC0621 BS-PBS CIECHANÓW WSE ATS

10 PLBSLIM00011 BSL0521 BS LIMANOWA WSE ATS

11 PLBSPIA00017 BSP0620 BS PIASECZNO WSE ATS

12 PLBSSKR00011 BSS0418 BS SKIERNIEWICE WSE ATS

13 PLSBRIR00017 BSW0721 BS - SK BANK WOŁOMIN WSE ATS

14 PLESBSR00014 ESB0725 BS-ESBANK WSE ATS

15 PLGBSBR00015 GBS0621 BS-GBS BANK BARLINEK WSE ATS

16 PLMBSLM00013 MBS0720 BS-MBS ŁOMIANKI WSE ATS

17 PLOKBS000017 OKB0520 BS-OK BANK KNURÓW WSE ATS

18 PLPBS0000016 PBS0720 BS-PBS SANOK WSE ATS

19 PLPBS0000024 PBS1021 BS-PBS SANOK WSE ATS

20 PLPMBSZ00016 PMS0624 BS-PMBS ZABŁUDÓW WSE ATS

21 PLKRBSP00017 SBK1020 BS-KBS KRAKÓW WSE ATS

22 PLSBRS000016 SBR0325 BS-SBR SZEPIETOWO WSE ATS

23 PLSBRS000024 SBR0725 BS-SBR SZEPIETOWO WSE ATS

24 PLWAWBS00014 WBS0521 BS-WBS BANK WARSZAWA WSE ATS

Municipal bonds

1 PL0012200016 BRZ1016 BRZESKO WSE ATS

2 PL0015200013 CHE0614 CHEŁM A


303

Fact Book 2013


3 PL0015200021 CHE0714 CHEŁM A

4 PL0015200039 CHE0814 CHEŁM A

5 PL0016200012 JAR1213A POWIAT JAROSŁAWSKI A

6 PL0016200020 JAR1213B POWIAT JAROSŁAWSKI A

7 PL0016200038 JAR1213C POWIAT JAROSŁAWSKI A

8 PL0016200046 JAR1214D POWIAT JAROSŁAWSKI A

9 PL0016200053 JAR1214E POWIAT JAROSŁAWSKI A

10 PL0016200061 JAR1214F POWIAT JAROSŁAWSKI A

11 PL0013200015 KON0715 KONOPISKA WSE ATS

12 PL0013200023 KON0916 KONOPISKA WSE ATS

13 PL0005200023 KRN1212 KÓRNIK WSE ATS

14 PL0014200022 OSW0914 OŚWIĘCIM A

15 PL0006200014 PLZ0915 POŁCZYN ZDRÓJ WSE ATS



18 PL0009200029 RAD0912 RADLIN WSE RM

19 PL0001200035 RYB1117 RYBNIK BS RM



22 PL0008200053 TCZ0817 TCZEW WSE ATS

23 PL0008200012 TCZ0913 TCZEW A

24 PL0008200020 TCZ0914 TCZEW A

25 PL0008200038 TCZ0915 TCZEW A

26 PL0008200046 TCZ0916 TCZEW A

27 PL0004200016 TUR0916 TUREK A

28 PL0011200025 USM0212 USTRONIE MORSKIE WSE ATS




32 PL0003200074 WAW0318 WARSZAWA WSE RM BS RM





37 PL0011300015 WSL0313 WODZISLAW SLASKI WSE ATS

38 PL0011300023 WSL0314 WODZISLAW SLASKI WSE ATS


304

CATALYST


39 PL0007200013 ZAB0614 ZĄBKI A

40 PL0007200021 ZAB0715 ZĄBKI A

41 PL0007200039 ZAB0916 ZĄBKI A

42 PL0010200026 ZAM1212 ZAMOŚĆ WSE ATS

Treasury bonds

1 PL0000102836 DS1013 STATE TREASURY WSE RM BS RM






7 PL0000103529 IZ0816 STATE TREASURY WSE RM BS RM

8 PL0000105359 IZ0823 STATE TREASURY WSE RM BS RM

9 PL0000105730 OK0112 STATE TREASURY WSE RM BS RM






15 PL0000104659 PS0412 STATE TREASURY WSE RM BS RM






21 PL0000105565 TZ0212 STATE TREASURY WSE RM BS RM











305

Fact Book 2013




33 PL0000105391 WS0429 STATE TREASURY WSE RM BS RM



36 PL0000106480 WZ0115 STATE TREASURY WSE RM BS RM



Mortgage bonds

1 PLBPHHP00010 BPHLZ01 PEKAO BANK HIPOTECZNY BS RM

2 PLBPHHP00044 BPHLZ04 PEKAO BANK HIPOTECZNY BS RM

3 PLRHNHP00151 BREHA08 BRE BANK HIPOTECZNY WSE RM BS RM










13 PLRHNHP00144 BREHPA7 BRE BANK HIPOTECZNY BS RM

14 PLBPHHP00069 PEK0321 PEKAO BANK HIPOTECZNY BS RM

15 PLBPHHP00051 PEK1020 PEKAO BANK HIPOTECZNY BS RM

16 PLBPHHP00077 PEOH203 PEKAO BANK HIPOTECZNY WSE RM BS RM

Public mortgage bonds

1 PLRHNHP00201 BREPA05 BRE BANK HIPOTECZNY WSE RM BS RM

2 PLRHNHP00045 BREPUA1 BRE BANK HIPOTECZNY BS RM



/¹ WSE RM – WSE Regulated Market, WSE ATS – WSE Alternative Trading System, BS RM – BondS-pot Regulated Market, BS ATS – BondSpot Alternative Trading System, A – authorised (not traded).


306

CATALYST

Value of issues listed on Catalyst in 2012No. ISIN Code Instrument Redemption

date (yyyy.mm.dd)

Type of interest rate

Currency Interest rate Nominal price

Value of total issue (PLN

million)

Corporate bonds

1 PLNFI0600028 06N0213 2013.02.22 fixed rate PLN 10.00 1 000 6.59

2 PLADMBT00047 ADM0415 2015.04.16 floating rate PLN 12.10 1 000 5.38

3 PLADMBT00039 ADM1013 2013.10.19 floating rate PLN 11.83 1 000 3.08

4 PLADVPL00037 ADV1114 2014.11.16 floating rate PLN 10.54 1 000 4.00

5 PLAKCFN00039 AFC0314 2014.03.23 fixed rate PLN 11.20 1 000 3.44

6 PLALIOR00011 ALR0220 2020.02.14 floating rate PLN 9.88 1 000 280.00

7 PLAOWFK00027 AOW0214 2014.02.28 fixed rate PLN 10.20 100 10.00

8 PLARGPN00018 ARG0113 2013.01.16 fixed rate PLN 13.80 10 000 0.25

9 PLARCHM00016 ARH0713 2013.07.22 fixed rate PLN 10.10 1 000 21.35

10 PLNFI1200091 BBD0213 2013.02.22 floating rate PLN 10.63 10 000 8.50



13 PLBBF0000013 BBF0615 2015.06.29 fixed rate PLN 11.00 100 2.66

14 PLNFI1200117 BBI0214 2014.02.21 floating rate PLN 11.13 10 000 5.00

15 PLNFI1200133 BBI0215 2015.02.23 floating rate PLN 11.63 10 000 13.55

16 PLNFI1000103 BBZ0313 2013.03.08 fixed rate PLN 12.65 1 000 15.00

17 PLNFI1000111 BBZ0613 2013.06.28 fixed rate PLN 12.00 1 000 6.58

18 PLNFI1000095 BBZ1213 2013.12.18 floating rate PLN 11.16 1 000 5.03

19 PL0000500039 BGK0213 2013.02.16 floating rate PLN 5.51 1 000 1 000.00



22 PL0000500088 BGK1016 2016.10.05 floating rate PLN 5.91 1 000 500.00

23 PLBDSTL00041 BL50313 2013.03.31 floating rate PLN 11.82 100 2.26



26 PLBOS0000050 BOB1213 2013.12.02 floating rate PLN 5.90 1 000 400.00

27 PLBOS0000076 BOD0521 2021.05.18 floating rate PLN 7.48 10 000 100.00

28 PLBOS0000084 BOE1014 2014.10.04 floating rate PLN 6.64 1 000 230.00

29 PLBOS0000092 BOF1014 2014.10.04 floating rate PLN 6.39 1 000 150.10

30 PLBOS0000100 BOG0222 2022.02.28 floating rate PLN 8.23 1 000 100.00

31 PLBOS0000118 BOH0215 2015.02.27 floating rate PLN 6.52 1 000 185.00

307

Fact Book 2013

No. ISIN Code Instrument Redemption date (yyyy.mm.dd)




million)

32 PLBPCZT00023 BPO0714 2014.07.10 floating rate PLN 6.85 10 000 200.00

33 PLBPCZT00015 BPO0721 2021.07.08 floating rate PLN 8.90 10 000 47.34

34 PLBSTII00012 BS20613 2013.06.22 floating rate PLN 8.85 1 000 28.00

35 PLBSTII00020 BS20614 2014.06.22 floating rate PLN 11.05 1 000 30.00

36 PLBSTNS00060 BS30214 2014.02.28 floating rate PLN 11.72 1 000 0.02





41 PLBEST000077 BST0513 2013.05.26 floating rate PLN 12.10 1 000 10.00



44 PLBLTXG00028 BTG1113 2013.11.14 fixed rate PLN 12.00 1 000 0.50

45 PLCPPRK00011 CAP0715 2015.07.09 floating rate PLN 10.15 100 100.00

46 PLCDRL000019 CDL1014 2014.10.07 floating rate PLN 10.44 1 000 9.58

47 PLNOVIN00053 DGT0414 2014.04.05 fixed rate PLN 14.00 1 000 0.95

48 PLDEKPL00016 DKP0214 2014.02.17 floating rate PLN 11.38 100 12.50

49 PLDMINM00016 DMM0914 2014.09.22 floating rate PLN 12.06 1 000 5.26



52 PLDMDVL00038 DOM0217 2017.02.02 floating rate PLN 8.64 10 000 120.00

53 PLDPTRP00010 DTP1114 2014.11.28 floating rate PLN 11.36 1 000 13.40

54 PLESTPT00042 EAP0214 2014.02.26 fixed rate PLN 14.00 1 000 0.52

55 PLESTPT00034 EAP1213 2013.12.20 fixed rate PLN 14.00 1 000 0.74

56 PLECHPS00100 ECH0515 2015.05.18 floating rate PLN 8.14 100 000 115.00

57 PLECISC00015 ECI0115 2015.01.27 floating rate PLN 10.03 1 000 20.98

58 PLECISC00023 ECS0115 2015.01.27 floating rate PLN 10.03 1 000 24.32

59 PLEFH0000014 EFHOHA 2013.12.04 floating rate PLN 7.43 640 10.24

60 PL0000400099 EIB0526 2026.05.05 zero-coupon PLN ---- 10 000 215.00

61 PL0000400024 EIB0617 2017.06.15 zero-coupon PLN ---- 100 000 275.00

62 PLEKGPF00052 EKA0413 2013.04.16 fixed rate PLN 13.00 1 000 3.00


Value of issues listed on Catalyst in 2012 (contd.)

308

CATALYST





million)


65 PLEKGPF00078 EKC0513 2013.05.31 fixed rate PLN 13.00 1 000 1.00

66 PLEKGPF00086 EKK0513 2013.05.30 fixed rate PLN 13.00 1 000 1.82

67 PLELECT00047 ELC0413 2013.04.22 floating rate PLN 10.79 1 000 36.83

68 PLENERG00014 ENG1019 2019.10.18 floating rate PLN 6.30 10 000 1 000.00

69 PLERBUD00046 ERB0714 2014.07.15 floating rate PLN 8.57 1 000 50.00

70 PLFRMGR00023 F510914 2014.09.08 floating rate PLN 13.43 100 1.08

71 PLFSTFC00020 FFI0113 2013.01.11 floating rate PLN 11.66 1 000 11.27

72 PLFSTFC00038 FFI0315 2015.03.23 floating rate PLN 12.46 1 000 30.00

73 PLFERRO00040 FRO0416 2016.04.04 floating rate PLN 10.44 1 000 18.57

74 PLFRRTM00018 FRR0514 2014.05.23 floating rate PLN 12.10 1 000 28.00

75 PLGCINV00037 GCI0414 2014.04.29 floating rate PLN 11.25 1 000 17.50

76 PLGHLMC00032 GHE0415 2015.04.20 floating rate PLN 10.79 100 000 132.50

77 PLGHLMC00016 GHE0714 2014.07.21 floating rate PLN 10.15 100 000 150.00

78 PLGHLMC00040 GHI0415 2015.04.20 floating rate PLN 10.79 100 000 4.60

79 PLGHLMC00024 GHI0714 2014.07.21 floating rate PLN 10.15 100 000 50.00

80 PLNOBLE00082 GNB0218 2018.02.23 floating rate PLN 8.88 1 000 241.64



83 PLGETBK00020 GNB0518 2018.05.23 floating rate PLN 8.16 1 000 37.28








91 PLGANT000204 GND0513 2013.05.06 floating rate PLN 11.25 1 000 10.00

92 PLGETBK00038 GNF0618 2018.06.14 floating rate PLN 7.79 1 000 40.00

93 PLNOBLE00066 GNO0917 2017.09.20 floating rate PLN 8.43 1 000 20.00

94 PLGANT000170 GNT0313 2013.03.29 floating rate PLN 8.95 1 000 26.00

95 PLGANT000253 GNT0314 2014.03.27 floating rate PLN 10.45 100 20.80


309

Fact Book 2013





million)




99 PLGANT000261 GNT0814 2014.08.28 fixed rate PLN 11.00 1 000 21.93

100 PLGANT000238 GNT1013 2013.10.25 floating rate PLN 9.50 100 25.00

101 PLGPFCS00067 GPF0214 2014.02.23 fixed rate PLN 15.00 1 000 0.42

102 PLGPW0000033 GPW0117 2017.01.02 floating rate PLN 6.31 100 245.00

103 PLHGNKA00093 HGN0713 2013.07.31 floating rate PLN 12.15 1 000 2.39

104 PLCNTZP00044 IDE0315 2015.03.02 floating rate PLN 11.12 100 15.00

105 PL0000500021 IDS1018 2018.10.24 fixed rate PLN 6.25 1 000 11 652.50

106 PL0000500070 IDS1022 2022.10.25 fixed rate PLN 5.75 1 000 5 250.00

107 PLIIF0000021 IIF0114 2014.01.29 floating rate PLN 11.95 1 000 5.29

108 PLINDOS00019 INS1214 2014.12.08 floating rate PLN 10.37 1 000 8.00

109 PLECMNG00068 INV0615 2015.06.18 floating rate PLN 11.26 1 000 3.87

110 PLIPFIP00025 IPF0615 2015.06.30 floating rate PLN 12.44 100 000 200.00

111 PL0000500013 IPS1014 2014.10.24 fixed rate PLN 5.75 1 000 6 893.00

112 PL0000500062 IWS0645 2045.06.25 fixed rate PLN 6.00 1 000 1 000.00

113 PLJDNKA00013 JED0415 2015.04.04 floating rate PLN 10.69 100 9.00

114 PLZPMHK00010 KAN0913 2013.09.27 floating rate PLN 10.51 1 000 15.00



117 PLHOOP000069 KFL1213 2013.12.21 floating rate PLN 7.86 1 000 3.08

118 PLHOOP000077 KFL1214 2014.12.21 floating rate PLN 8.56 1 000 45.93

119 PLKLON000036 KLN1115 2015.11.18 floating rate PLN 10.14 100 4.00

120 PLKRINK00113 KR20116 2016.01.02 floating rate PLN 10.54 1 000 5.00

121 PLKRINK00105 KRI0116 2016.01.02 floating rate PLN 10.64 1 000 35.00






127 PLKRK0000085 KRU0115 2015.01.05 floating rate PLN 9.90 1 000 17.00


310

CATALYST





million)









136 PLKNCPT00012 KWS0313 2013.03.29 floating rate PLN 10.71 1 000 8.00

137 PLFBRD000059 LBD1213 2013.12.15 zero-coupon PLN ---- 1 000 5.50

138 PLLCCRP00033 LCC0414 2014.04.15 floating rate PLN 8.88 100 000 100.00

139 PLLCCRP00041 LCC0515 2015.05.25 floating rate PLN 8.40 100 000 65.00

140 PLLSTIA00034 LST0614 2014.06.12 fixed rate PLN 11.50 1 000 0.69

141 PLMSTFR00016 MAS0215 2015.02.13 floating rate PLN 9.65 1 000 0.80

142 PLMOBRK00039 MBR0814 2014.08.12 floating rate PLN 10.14 1 000 50.00

143 PLMCIMG00137 MCI0314 2014.03.31 floating rate PLN 8.95 1 000 35.35

144 PLMCIMG00129 MCI0613 2013.06.28 floating rate PLN 9.89 1 000 27.45

145 PLMERA000035 MER0614 2014.06.17 floating rate PLN 11.74 1 000 5.00

146 PLMERA000043 MER1213 2013.12.06 floating rate PLN 12.49 100 2.50

147 PLKLSTN00033 MIR0513 2013.05.07 floating rate PLN 13.51 1 000 4.78

148 PLMKDOM00010 MKD0713 2013.07.22 floating rate PLN 10.65 1 000 23.28

149 PLMLMSK00014 MLX0414 2014.04.25 floating rate PLN 11.09 1 000 12.91

150 PLMLMSK00022 MLX0714 2014.07.09 floating rate PLN 11.90 1 000 4.70

151 PLMLMSK00030 MLX0813 2013.08.30 fixed rate PLN 11.00 1 000 7.53

152 PLMLMDP00049 MMP0416 2016.04.29 floating rate PLN 7.75 10 000 107.00



155 PLMINOX00036 MNX0414 2014.04.25 fixed rate PLN 12.00 100 4.82

156 PLMARKA00030 MRK0214 2014.02.17 floating rate PLN 13.13 1 000 14.11

157 PLMRTMB00018 MRT0520 2020.05.09 floating rate PLN 10.70 10 000 26.38

158 PLMEWSA00027 MSA0613 2013.06.14 fixed rate PLN 12.00 110 5.06

159 PLMEWSA00035 MSA1013 2013.10.11 fixed rate PLN 12.50 100 2.36


311

Fact Book 2013





million)

160 PLMURPL00034 MUR0415 2015.04.27 floating rate PLN 9.96 100 7.50



163 PLMRVPL00057 MVF1213 2013.12.06 fixed rate PLN 9.45 100 30.00

164 PLMRVPL00065 MVG1213 2013.12.13 fixed rate PLN 9.45 100 10.00

165 PLMRVPL00073 MVP0114 2014.01.04 fixed rate PLN 9.45 100 20.00

166 PLMRVPL00081 MVP0415 2015.04.08 floating rate PLN 10.80 100 39.06

167 PLMRVPL00024 MVP0613 2013.06.29 floating rate PLN 7.94 1 000 39.40



170 PLNAVIG00015 NAV0213 2013.02.21 floating rate PLN 14.64 1 000 2.00

171 PLNAVIG00064 NAV0314 2014.03.03 fixed rate PLN 11.00 1 000 0.50



174 PLNETTL00018 NEL0414 2014.04.30 floating rate PLN 12.75 1 000 1.26

175 PLNMV0000012 NMV0114 2014.01.20 floating rate PLN 10.31 1 000 1.61

176 PLNRDCD00017 NOR0414 2014.04.14 floating rate PLN 10.70 2 000 1.00

177 PLODRTS00025 ODR1114 2014.11.28 floating rate PLN 8.62 1 000 60.00

178 PLMZCOR00035 ORK0314 2014.03.27 floating rate PLN 12.46 1 000 35.00

179 PLORZL000100 ORL0814 2014.08.22 fixed rate PLN 11.00 1 000 10.00

180 PLOSHEE00026 OSH0314 2014.03.26 floating rate PLN ---- 1 000 5.00

181 PLODLZW00019 OZE0813 2013.08.29 floating rate PLN 11.41 1 000 10.00

182 PLPNSKA00026 PAN0614 2014.06.30 fixed rate PLN 11.00 1 000 25.00

183 PLPNSKA00018 PAN1214 2014.12.30 fixed rate PLN 11.00 1 000 10.00

184 PLPWTRN00015 PAW0115 2015.01.12 floating rate PLN 9.66 100 10.00

185 PLPCCRK00019 PCR0613 2013.06.14 fixed rate PLN 9.00 100 15.00

186 PLPCCRK00027 PCR1014 2014.10.03 fixed rate PLN 9.00 100 25.00

187 PLPCZ0000019 PCZ0514 2014.05.30 fixed rate PLN 14.00 1 000 5.00

188 PLPCZ0000043 PCZ0615 2015.06.30 floating rate PLN 10.94 1 000 8.00

189 PLPCZ0000068 PCZ1015 2015.10.31 fixed rate PLN 11.00 1 000 13.00

190 PLPGNIG00063 PGN0617 2017.06.19 floating rate PLN 5.43 10 000 2 500.00

191 PLPRINW00018 PIN0414 2014.04.04 floating rate PLN 9.94 1 000 10.00


312

CATALYST





million)

192 PLPRINW00026 PIN1014 2014.10.30 floating rate PLN 9.75 1 000 10.00

193 PLPKN0000083 PKN0219 2019.02.27 floating rate PLN 6.72 100 000 1 000.00

194 PLPKO0000081 PKO0922 2022.09.14 floating rate PLN 6.60 100 000 1 600.70

195 XS0545031642 PKO1015 2015.10.21 fixed rate EUR 3.73 50 000 800.00

196 PLPRESC00059 PRE0814 2014.08.23 floating rate PLN 10.33 1 000 30.00

197 PLPRESC00042 PRE1213 2013.12.12 floating rate PLN 9.31 1 000 30.00

198 PLGFPRE00057 PRF0413 2013.04.19 floating rate PLN 9.30 1 000 25.00

199 PLGFPRE00065 PRF1214 2014.12.12 floating rate PLN 8.81 1 000 15.00

200 PLPTIW000022 PTI0714 2014.07.30 floating rate PLN 11.65 1 000 5.02

201 PLQLTDL00010 QLT0313 2013.03.29 fixed rate PLN 11.00 1 000 0.80

202 PLNFI0500038 RBC0413 2013.04.27 floating rate PLN 10.75 1 000 32.00

203 PLREDAN00050 RDN0113 2013.01.12 floating rate PLN 9.67 100 6.00

204 PLREDAN00068 RDN0814 2014.08.23 floating rate PLN 11.13 1 000 8.50

205 PLRLGDL00056 REL0214 2014.02.12 fixed rate PLN 14.00 1 000 2.40



208 PLREMDS00146 REM0613 2013.06.27 fixed rate PLN 10.00 1 2.96

209 PLREMDS00138 REM0713 2013.07.08 floating rate PLN ---- 1 4.00

210 PLREMDS00153 REM0813 2013.08.01 fixed rate PLN 10.00 1 0.70

211 PLREMDS00179 REM0913 2013.09.01 floating rate PLN ---- 1 1.25

212 PLRNSER00011 RNA0414 2014.04.18 floating rate PLN 9.05 10 000 51.34

213 PLRNSER00029 RNB0414 2014.04.18 floating rate PLN 9.75 10 000 36.16

214 PLRNKPR00030 RNK1213 2013.12.09 floating rate PLN 9.31 1 000 100.00

215 PLROBYG00073 ROB0415 2015.04.18 fixed rate PLN 8.90 100 40.00

216 PLROBYG00081 ROB0615 2015.06.20 floating rate PLN 7.98 100 20.00




220 PLRDNST00035 ROD0813 2013.08.05 floating rate PLN 13.14 100 3.00

221 PLROBYG00099 ROG0615 2015.06.20 floating rate PLN 8.98 100 10.00

222 PLSCOPK00038 SCO0713 2013.07.25 floating rate PLN 12.16 1 000 22.98

223 PLSCOPK00046 SCO0813 2013.08.29 floating rate PLN 12.12 1 000 6.54


313

Fact Book 2013





million)

224 PLCMPLD00156 SGN0313 2013.03.23 floating rate PLN 9.96 1 000 60.00

225 PLMILOP00028 SIO1213 2013.12.06 floating rate PLN 10.37 100 000 90.00

226 PLECOPL00036 TBR0713 2013.07.11 fixed rate PLN 12.50 1 000 3.16

227 PLECOPL00028 TBR1013 2013.10.11 fixed rate PLN 12.00 100 1.86

228 PLTRKPL00048 TRK1213 2013.12.12 fixed rate PLN 7.00 1 000 148.36

229 PLTRUST00010 TRU0614 2014.06.03 floating rate PLN 9.25 1 000 22.00



232 PLUBTLN00020 UBT0914 2014.09.11 floating rate PLN 13.93 1 000 0.65

233 PLVEDIA00037 VED0613 2013.06.03 fixed rate PLN 11.50 1 000 4.00

234 PLVOXEL00022 VOX0614 2014.06.06 floating rate PLN 9.93 1 000 12.00

235 PLWDENG00032 WDK0313 2013.03.15 floating rate PLN 12.15 1 000 3.32

236 PLWDENG00040 WDK0513 2013.05.08 floating rate PLN 12.00 1 000 5.28

237 PLWRTHL00024 WHH1214 2014.12.07 floating rate PLN 10.63 100 5.00

238 PLELPO000099 WIK0713 2013.07.18 floating rate PLN 11.41 1 000 26.25

239 PLWDRZW00019 WLO0613 2013.06.02 floating rate PLN 11.52 1 000 21.00

240 PLWDRZW00027 WLO1214 2014.12.15 floating rate PLN 9.79 100 9.50

241 PLWRKSR00035 WSE0513 2013.05.21 floating rate PLN 10.14 1 000 7.56

242 PLWRKSR00043 WSE0613 2013.06.02 floating rate PLN 10.00 1 000 10.50

243 PLWDSIP00017 WSP0917 2017.09.25 floating rate PLN 9.20 10 000 151.80

244 AT0000A0PCA4 WXF0514 2014.05.06 fixed rate PLN 8.50 250 000 66.25

Co-operative bonds

1 PLBBSDR00012 BBS1225 2025.12.24 floating rate PLN 7.15 1 000 2.90

2 PLBSPOM00010 BOM0221 2021.02.11 floating rate PLN 8.64 1 000 10.00

3 PLBSPLS00013 BPL0421 2021.04.15 floating rate PLN 7.90 1 000 7.00

4 PLBSPLS00021 BPL0422 2022.04.27 floating rate PLN 7.75 100 7.00

5 PLBPS0000032 BPS0718 2018.07.15 floating rate PLN 8.17 1 000 100.00

6 PLBPS0000024 BPS0720 2020.07.12 floating rate PLN 8.66 1 000 80.00

7 PLBPS0000040 BPS1122 2022.11.29 floating rate PLN 8.30 100 85.20

8 PLBSPT000017 BPT0620 2020.06.11 floating rate PLN 7.54 1 000 4.00

9 PLBSBR000023 BRB0425 2025.04.09 floating rate PLN 8.42 1 000 10.00


314

CATALYST





million)

10 PLPBSC000016 BSC0620 2020.06.18 floating rate PLN 7.22 1 000 10.00



13 PLBSLIM00011 BSL0521 2021.05.13 floating rate PLN 7.85 1 000 10.00

14 PLBSPIA00017 BSP0620 2020.06.25 floating rate PLN 7.14 1 000 5.00

15 PLBSSKR00011 BSS0418 2018.04.01 floating rate PLN 8.45 1 000 8.00

16 PLSBRIR00025 BSW0715 2015.07.30 floating rate PLN 7.15 100 10.00

17 PLSBRIR00017 BSW0721 2021.07.08 floating rate PLN 8.35 1 000 10.00

18 PLBSTCH00025 BTY0317 2017.03.27 floating rate PLN 8.95 1 000 1.60

19 PLBSTCH00017 BTY1216 2016.12.15 floating rate PLN 7.74 1 000 2.00

20 PLESBSR00014 ESB0725 2025.07.16 floating rate PLN 8.17 1 000 5.00

21 PLGBSBR00015 GBS0621 2021.06.10 floating rate PLN 7.17 1 000 10.00

22 PLKBSAK00014 KBS0518 2018.05.30 floating rate PLN 8.02 100 6.00

23 PLMBSLM00013 MBS0720 2020.07.23 floating rate PLN 8.36 1 000 6.00

24 PLOKBS000017 OKB0520 2020.05.28 floating rate PLN 7.59 1 000 7.00

25 PLPBS0000016 PBS0720 2020.07.02 floating rate PLN 9.14 1 000 25.00

26 PLPBS0000024 PBS1021 2021.10.06 floating rate PLN 8.11 100 23.00

27 PLPMBSZ00016 PMS0624 2024.06.18 floating rate PLN 7.22 1 000 5.00

28 PLKRBSP00017 SBK1020 2020.10.29 floating rate PLN 8.75 1 000 20.69

29 PLSBRS000016 SBR0325 2025.03.12 floating rate PLN 8.48 1 000 2.00

30 PLSBRS000024 SBR0725 2025.07.16 floating rate PLN 8.67 1 000 5.00

31 PLWAWBS00014 WBS0521 2021.05.27 floating rate PLN 7.80 1 000 7.00

Municipal bonds

1 PL0019200019 BRD1023 2023.10.19 floating rate PLN 6.49 1 000 12.70

2 PL0012200016 BRZ1016 2016.10.19 floating rate PLN 6.79 1 000 3.50

3 PL0015200013 CHE0614 2014.06.24 floating rate PLN ---- 1 000 5.00



6 PL0017200011 ELG0319 2019.03.08 floating rate PLN 5.83 1 000 5.00

7 PL0017200029 ELG0320 2020.03.08 floating rate PLN 5.93 1 000 5.50

8 PL0017200037 ELG0321 2021.03.30 floating rate PLN 6.09 100 9.00


315

Fact Book 2013





million)





13 PL0016200012 JAR1213A 2013.12.18 floating rate PLN ---- 1 000 1.00

14 PL0016200020 JAR1213B 2013.12.18 floating rate PLN ---- 1 000 1.00

15 PL0016200038 JAR1213C 2013.12.06 floating rate PLN ---- 1 000 0.50

16 PL0016200046 JAR1214D 2014.12.18 floating rate PLN ---- 1 000 1.00

17 PL0016200053 JAR1214E 2014.12.18 floating rate PLN ---- 1 000 1.00

18 PL0016200061 JAR1214F 2014.12.18 floating rate PLN ---- 1 000 0.50

19 PL0013200015 KON0715 2015.07.29 floating rate PLN 7.15 1 000 0.55

20 PL0013200023 KON0916 2016.09.08 floating rate PLN 6.98 1 000 2.20

21 PL0014200022 OSW0914 2014.09.06 floating rate PLN ---- 1 000 0.50

22 PL0006200014 PLZ0915 2015.09.07 floating rate PLN 7.98 1 000 0.60



25 PL0001200035 RYB1117 2017.11.13 floating rate PLN 4.86 1 000 40.50



28 PL0008200053 TCZ0817 2017.08.25 floating rate PLN 5.91 1 000 2.00

29 PL0008200012 TCZ0913 2013.09.04 floating rate PLN ---- 1 000 5.00




33 PL0004200016 TUR0916 2016.09.28 floating rate PLN ---- 1 000 2.80

34 PL0011200033 USM0213 2013.02.25 floating rate PLN 6.60 1 000 0.80



37 PL0020200016 WAL1025 2025.10.08 floating rate PLN 7.12 1 000 30.00

38 PL0020200024 WAL1027 2027.10.22 floating rate PLN 6.98 1 000 27.00

39 PL0003200074 WAW0318 2018.03.29 fixed rate PLN 6.48 1 000 300.00



316

CATALYST





million)




44 PL0018200010 WCL1225 2025.12.20 floating rate PLN 7.01 1 000 30.00

45 PL0011300015 WSL0313 2013.03.29 floating rate PLN 6.94 1 000 2.00

46 PL0011300023 WSL0314 2014.03.29 floating rate PLN 6.94 1 000 2.00

47 PL0007200013 ZAB0614 2014.06.10 floating rate PLN ---- 1 000 4.00



Treasury bonds

1 PL0000102836 DS1013 2013.10.24 fixed rate PLN 5.00 1 000 23 369.74







8 PL0000103529 IZ0816 2016.08.24 indexed PLN 3.00 1 271 12 127.68

9 PL0000105359 IZ0823 2023.08.25 indexed PLN 2.75 1 149 6 697.03

10 PL0000106324 OK0113 2013.01.25 zero-coupon PLN ---- 1 000 10 001.26




14 PL0000105037 PS0413 2013.04.25 fixed rate PLN 5.25 1 000 20 520.96







21 PL0000105995 TZ0213 2013.02.01 floating rate PLN 4.89 100 26.69


317

Fact Book 2013





million)









30 PL0000105391 WS0429 2029.04.25 fixed rate PLN 5.75 1 000 9 077.29



33 PL0000106480 WZ0115 2015.01.25 floating rate PLN 5.15 1 000 22 422.33




Mortgage bonds

1 PLRHNHP00151 BREHA08 2013.04.29 floating rate PLN 6.05 1 000 25.00













14 PLRHNHP00300 BREHE01 2017.10.19 floating rate EUR 2.31 1 000 10.00

15 PLBPHHP00069 PEK0321 2021.03.14 floating rate PLN 6.15 1 000 250.00


318

CATALYST





million)

16 PLBPHHP00051 PEK1020 2020.10.28 floating rate PLN 5.75 1 000 100.00

17 PLBPHHP00077 PEOH203 2021.11.22 floating rate PLN 5.73 1 000 150.00



20 PLBPHHP00101 PEOH206 2018.02.11 floating rate EUR 2.12 1 000 10.00


1 PLRHNHP00201 BREPA05 2015.11.30 floating rate PLN 5.73 1 000 100.00



4 PLRHNHP00110 BREPUA4 2013.09.20 floating rate PLN 5.46 1 000 100.00


319

Fact Book 2013

Trading in various instruments on Catalyst in 2012 No. ISIN Code Instrument Market Cur -

rencyOrder-book trades Block trades

Volume No. of transac-

tions

Turnover value


tions

Turnover value

(PLN thous.) (PLN thous.)

Corporate bonds

1 PL0000500021 IDS1018 WSE RM PLN 301 931 127 327 781 0 0 0

2 PL0000500070 IDS1022 WSE RM PLN 114 341 92 119 828 0 0 0

3 PLGPW0000033 GPW0117 WSE RM PLN 394 905 1 687 40 309 128 544 9 12 990

4 PLMOBRK00039 MBR0814 WSE ATS PLN 22 250 483 22 822 2 365 8 2 442

5 PLGHLMC00032 GHE0415 BS ATS PLN 207 3 21 257 0 0 0

6 PLGANT000170 GNT0313 WSE ATS PLN 12 415 679 12 621 4 899 3 5 034

7 PLMCIMG00129 MCI0613 WSE ATS PLN 12 203 167 12 337 0 0 0

8 PLKRK0000069 KRU0514 WSE ATS PLN 11 737 151 12 059 0 0 0

9 PLNOBLE00082 GNB0218 WSE ATS PLN 9 993 1 329 10 213 0 0 0

10 PLMRVPL00081 MVP0415 WSE ATS PLN 91 082 510 8 977 0 0 0


12 PLSCOPK00038 SCO0713 WSE ATS PLN 8 471 587 8 288 0 0 0

13 PLRNKPR00030 RNK1213 WSE ATS PLN 8 236 409 8 211 16 532 8 16 814

14 PLNFI0500038 RBC0413 WSE ATS PLN 7 413 144 7 427 0 0 0

15 PLGANT000204 GND0513 WSE ATS PLN 6 699 856 6 661 0 0 0

16 PLGHLMC00016 GHE0714 BS ATS PLN 66 13 6 525 3 1 299

17 PLNOBLE00033 GNB0618 BS ATS PLN 62 26 6 328 2 1 206

18 PLNOBLE00090 GNB0318 WSE ATS PLN 5 828 499 5 910 0 0 0

19 PLMRVPL00057 MVF1213 WSE ATS PLN 52 328 254 5 076 0 0 0

20 PLFERRO00040 FRO0416 WSE ATS PLN 4 634 150 4 860 8 084 3 8 462

21 PLROBYG00073 ROB0415 WSE ATS PLN 44 699 171 4 520 43 516 8 4 359

22 PLPGNIG00063 PGN0617 BS ATS PLN 440 9 4 476 0 0 0

23 PLODRTS00025 ODR1114 WSE ATS PLN 4 393 165 4 442 0 0 0

24 PLMKDOM00010 MKD0713 WSE ATS PLN 4 461 70 4 401 0 0 0

25 PLGHLMC00024 GHI0714 BS ATS PLN 43 21 4 355 0 0 0

26 PLPCZ0000043 PCZ0615 WSE ATS PLN 4 234 583 4 262 0 0 0

27 PLMRTMB00018 MRT0520 BS ATS PLN 416 2 4 212 0 0 0

28 PLMCIMG00137 MCI0314 WSE ATS PLN 4 097 284 4 168 0 0 0

29 PLGANT000220 GNT0813 WSE ATS PLN 4 027 325 4 041 0 0 0

30 PLMLMDP00049 MMP0416 BS ATS PLN 392 12 3 972 0 0 0

31 PLPCCRK00019 PCR0613 WSE RM PLN 38 227 872 3 880 2 300 2 235

320

CATALYST

No. ISIN Code Instrument Market Cur - rency

Order-book trades Block trades


tions

Turnover value


tions

Turnover value


32 PLKRK0000085 KRU0115 WSE ATS PLN 3 799 79 3 877 7 686 7 7 985

33 PLGFPRE00057 PRF0413 WSE ATS PLN 3 839 42 3 869 3 000 1 3 130

34 PLELPO000099 WIK0713 WSE ATS PLN 3 647 82 3 761 1 960 7 2 021

35 PLROBYG00040 ROB1013 WSE ATS PLN 35 405 215 3 547 0 0 0

36 PLNFI1200109 BBD0214 WSE ATS PLN 328 53 3 381 0 0 0


38 PLORZL000100 ORL0814 WSE ATS PLN 3 289 300 3 324 650 4 654


40 PL0000500013 IPS1014 WSE RM PLN 2 951 69 3 103 0 0 0

41 PLNFI1200125 BBD0215 WSE ATS PLN 298 6 3 075 95 1 959

42 PLMLMDP00031 MMP1115 BS ATS PLN 6 5 2 974 10 2 5 143

43 PLGFPRE00065 PRF1214 WSE ATS PLN 2 721 303 2 793 0 0 0

44 PLZPMHK00010 KAN0913 WSE ATS PLN 2 677 378 2 717 0 0 0

45 PLPRMCM00014 PCM0312 WSE ATS PLN 22 778 138 2 390 0 0 0

46 PLNFI1200133 BBI0215 WSE ATS PLN 226 11 2 323 295 3 2 895



49 PLARCHM00016 ARH0713 WSE ATS PLN 2 164 97 2 189 0 0 0

50 PLPKN0000083 PKN0219 BS ATS PLN 21 3 2 160 0 0 0

51 PLALIOR00011 ALR0220 BS ATS PLN 2 100 5 2 141 1 500 2 1 550

52 PLPRESC00042 PRE1213 WSE ATS PLN 2 080 134 2 130 0 0 0

53 PLNOBLE00108 GNB0418 WSE ATS PLN 1 906 204 1 938 0 0 0

54 PLCNTZP00044 IDE0315 WSE ATS PLN 18 559 56 1 880 0 0 0


56 PLIPFIP00025 IPF0615 BS ATS PLN 17 12 1 831 0 0 0

57 PLPCZ0000019 PCZ0514 WSE ATS PLN 1 712 469 1 799 0 0 0

58 PLBEST000085 BST1113 WSE ATS PLN 1 723 280 1 787 0 0 0

59 PLNFI1000095 BBZ1213 WSE ATS PLN 1 832 328 1 751 1 200 1 1 242

60 PLMLMDP00056 MMP0617 WSE ATS PLN 168 21 1 725 1 899 2 19 461

61 PLKLSTN00033 MIR0513 WSE ATS PLN 1 658 382 1 667 0 0 0

62 PLFRRTM00018 FRR0514 WSE ATS PLN 1 546 220 1 586 10 054 9 10 227

63 PLGETBK00046 GNB0819 WSE ATS PLN 1 513 167 1 545 0 0 0

Trading in various instruments on Catalyst in 2012 (contd.)

321

Fact Book 2013




tions

Turnover value


tions

Turnover value


64 PLBPCZT00023 BPO0714 WSE ATS PLN 150 18 1 530 0 0 0

65 PLSCOPK00046 SCO0813 WSE ATS PLN 1 462 194 1 423 500 1 489

66 PLBOS0000084 BOE1014 WSE ATS PLN 1 383 77 1 420 42 000 3 42 563

67 PLWRKSR00043 WSE0613 WSE ATS PLN 1 369 175 1 388 129 1 123

68 PLZPMHK00028 KAN1113 WSE ATS PLN 1 312 146 1 334 0 0 0

69 PLWDRZW00019 WLO0613 WSE ATS PLN 1 323 130 1 321 3 885 2 3 968

70 PLMLMSK00014 MLX0414 WSE ATS PLN 1 257 35 1 313 100 1 104

71 PLGANT000238 GNT1013 WSE ATS PLN 12 729 95 1 290 1 000 1 105

72 PLOSHEE00018 OSH1012 WSE ATS PLN 1 574 265 1 239 1 000 3 857

73 PLLCCRP00041 LCC0515 BS ATS PLN 12 1 1 215 0 0 0

74 PLROBYG00065 ROB1213 WSE ATS PLN 11 947 176 1 196 0 0 0

75 PLKRINK00105 KRI0116 WSE ATS PLN 1 126 124 1 175 0 0 0

76 PLNFI1200125 BBD0215 BS ATS PLN 110 1 1 169 0 0 0

77 PLPRESC00059 PRE0814 WSE ATS PLN 1 101 59 1 148 0 0 0

78 PLDPTRP00010 DTP1114 WSE ATS PLN 1 085 77 1 107 2 687 10 2 724

79 PLNFI0500046 RBC0912 WSE ATS PLN 1 181 199 1 105 1 500 1 1 539

80 PL0000500021 IDS1018 BS RM PLN 995 3 1 066 0 0 0

81 PLPRINW00018 PIN0414 WSE ATS PLN 1 031 133 1 059 0 0 0

82 PLEKGPF00037 EKA1112 WSE ATS PLN 1 041 283 1 057 0 0 0

83 PLKLON000036 KLN1115 WSE ATS PLN 10 349 25 1 050 0 0 0

84 PLWRTHL00024 WHH1214 WSE ATS PLN 10 371 188 1 043 0 0 0

85 XS0545031642 PKO1015 WSE ATS EUR 20 9 1 026 0 0 0

86 PLMEWSA00035 MSA1013 WSE ATS PLN 9 958 331 1 015 0 0 0

87 PLBOS0000076 BOD0521 BS ATS PLN 100 1 1 002 0 0 0

88 PLRDNST00035 ROD0813 WSE ATS PLN 9 963 302 983 0 0 0

89 PLPCCRK00027 PCR1014 WSE RM PLN 9 323 217 956 1 000 1 103

90 PLBEST000077 BST0513 WSE ATS PLN 918 136 949 0 0 0

91 PLMARKA00030 MRK0214 WSE ATS PLN 896 204 927 0 0 0

92 PLELECT00047 ELC0413 WSE ATS PLN 878 159 890 0 0 0


94 PLESTPT00034 EAP1213 WSE ATS PLN 772 254 790 0 0 0

95 PLGCINV00037 GCI0414 WSE ATS PLN 767 137 785 0 0 0


322

CATALYST




tions

Turnover value


tions

Turnover value


96 PLAOWFK00027 AOW0214 WSE ATS PLN 7 675 97 778 0 0 0

97 PLGPW0000033 GPW0117 BS ATS PLN 7 526 2 771 0 0 0

98 PLGANT000188 GNT1212 WSE ATS PLN 754 88 757 0 0 0

99 PLKRK0000168 KRU1212 WSE ATS PLN 750 2 755 150 1 151


101 PLKRINK00113 KR20116 WSE ATS PLN 705 104 729 0 0 0

102 PLECOPL00028 TBR1013 WSE ATS PLN 7 365 278 726 0 0 0

103 PLADMBT00039 ADM1013 WSE ATS PLN 706 140 720 0 0 0


105 PLMRVPL00073 MVP0114 WSE ATS PLN 7 187 73 714 0 0 0

106 PLNOVIN00053 DGT0414 WSE ATS PLN 969 241 712 0 0 0


108 PLMRVPL00065 MVG1213 WSE ATS PLN 7 193 66 700 0 0 0

109 PLREDAN00050 RDN0113 WSE ATS PLN 8 477 211 695 0 0 0

110 PLRLGDL00056 REL0214 WSE ATS PLN 704 134 679 0 0 0

111 PLGANT000261 GNT0814 WSE RM PLN 678 137 677 0 0 0

112 PLMINOX00036 MNX0414 WSE ATS PLN 6 600 123 666 0 0 0

113 PLPRGNK00041 PRI1212 WSE ATS PLN 639 82 664 0 0 0

114 PLCPPRK00011 CAP0715 WSE ATS PLN 6 241 133 648 0 0 0

115 PLCDRL000019 CDL1014 WSE ATS PLN 636 159 643 0 0 0


117 PLLCCRP00033 LCC0414 BS ATS PLN 6 2 615 0 0 0

118 PLHGNKA00093 HGN0713 WSE ATS PLN 591 151 608 0 0 0

119 PLPCZ0000068 PCZ1015 WSE ATS PLN 592 118 594 0 0 0

120 PLTRUST00010 TRU0614 WSE ATS PLN 572 22 585 482 1 496

121 PLPRMCM00022 PCM0314 WSE ATS PLN 5 316 111 566 0 0 0

122 PL0000500039 BGK0213 BS ATS PLN 555 4 561 0 0 0


124 PLGETBK00020 GNB0518 WSE ATS PLN 543 51 557 0 0 0

125 PLWDRZW00027 WLO1214 WSE ATS PLN 5 453 19 548 0 0 0

126 PLVEDIA00037 VED0613 WSE ATS PLN 526 98 546 0 0 0

127 PLWRKSR00035 WSE0513 WSE ATS PLN 539 59 544 0 0 0


323

Fact Book 2013




tions

Turnover value


tions

Turnover value


128 PLAKCFN00039 AFC0314 WSE ATS PLN 518 47 536 0 0 0


130 PLZPMHK00036 KAN1214 WSE ATS PLN 497 57 504 0 0 0

131 PLZPS0000015 ZPS1212 WSE ATS PLN 481 112 483 0 0 0

132 PLNAVIG00015 NAV0213 WSE ATS PLN 469 125 478 0 0 0

133 PLJDNKA00013 JED0415 WSE ATS PLN 4 078 95 417 0 0 0


135 PLWDENG00032 WDK0313 WSE ATS PLN 405 62 412 0 0 0

136 PLMURPL00026 MUR0814 WSE ATS PLN 4 001 65 407 0 0 0



139 PLINDOS00019 INS1214 WSE ATS PLN 376 29 391 3 300 5 3 362

140 PLIIF0000013 IIF0912 WSE ATS PLN 372 51 391 212 1 221

141 PLMERA000035 MER0614 WSE ATS PLN 364 69 383 1 461 1 1 479

142 PLGPFCS00067 GPF0214 WSE ATS PLN 402 99 372 0 0 0

143 PLDEKPL00016 DKP0214 WSE ATS PLN 3 533 58 360 0 0 0

144 PLBLTXG00028 BTG1113 WSE ATS PLN 358 80 359 0 0 0

145 PLFSTFC00020 FFI0113 WSE ATS PLN 344 56 357 0 0 0

146 PLWDENG00040 WDK0513 WSE ATS PLN 350 1 354 2 500 8 2 533

147 PLNFI1000079 BBZ0312 WSE ATS PLN 313 26 339 0 0 0

148 PLROBYG00057 ROB1113 WSE ATS PLN 3 176 52 318 0 0 0

149 PLPRINW00026 PIN1014 WSE ATS PLN 311 52 315 0 0 0

150 PLKRINK00063 KRI0414 BS ATS PLN 300 1 314 500 1 519

151 PLNETTL00018 NEL0414 WSE ATS PLN 310 85 312 0 0 0

152 PLMEWSA00027 MSA0613 WSE ATS PLN 2 709 121 307 0 0 0

153 PLDMINM00016 DMM0914 WSE ATS PLN 298 61 305 0 0 0

154 PLVOXEL00022 VOX0614 WSE ATS PLN 290 120 299 0 0 0

155 PLMZCOR00035 ORK0314 WSE ATS PLN 283 49 298 3 450 2 3 687

156 PLMRVPL00099 MVP0914 WSE ATS PLN 298 52 294 0 0 0

157 PLHOOP000077 KFL1214 WSE ATS PLN 257 21 263 5 847 4 6 061

158 PLQLTDL00010 QLT0313 WSE ATS PLN 243 36 243 0 0 0

159 PLESTPT00042 EAP0214 WSE ATS PLN 232 81 235 0 0 0


324

CATALYST




tions

Turnover value


tions

Turnover value


160 PLFSTFC00038 FFI0315 WSE ATS PLN 222 43 234 1 081 4 1 107


162 PLMSTFR00016 MAS0215 WSE ATS PLN 211 48 215 0 0 0

163 PLEKGPF00060 EKA0513 WSE ATS PLN 210 52 214 0 0 0

164 PLBBF0000013 BBF0615 WSE ATS PLN 2 056 55 212 0 0 0


166 PLGANT000212 GND0612 WSE ATS PLN 205 20 210 0 0 0

167 PLMZCOR00019 ORK0312 WSE ATS PLN 206 34 207 0 0 0

168 PLPSPRT00018 PSG0512 WSE ATS PLN 200 47 203 0 0 0

169 PLBOS0000100 BOG0222 BS ATS PLN 200 2 201 0 0 0

170 PLPWTRN00015 PAW0115 WSE ATS PLN 1 876 33 193 4 780 1 486

171 PLFBRD000059 LBD1213 WSE ATS PLN 222 26 193 0 0 0

172 PLECMNG00068 INV0615 WSE ATS PLN 183 41 184 0 0 0


174 PLECOPL00036 TBR0713 WSE ATS PLN 165 39 159 0 0 0



177 PLKNCPT00012 KWS0313 WSE ATS PLN 146 10 147 0 0 0

178 PLORZL000068 ORL0412 WSE ATS PLN 137 33 140 0 0 0


180 PLMERA000043 MER1213 WSE ATS PLN 1 292 34 135 0 0 0


182 PLUBTLN00020 UBT0914 WSE ATS PLN 130 46 131 0 0 0

183 PLMZCOR00027 ORK0712 WSE ATS PLN 124 28 126 0 0 0


185 PLEKGPF00078 EKC0513 WSE ATS PLN 112 30 115 0 0 0

186 PLWDKEN00059 WDK0512 WSE ATS PLN 106 42 109 0 0 0

187 PLMILOP00028 SIO1213 BS ATS PLN 1 1 105 0 0 0

188 PLPKO0000081 PKO0922 BS ATS PLN 1 1 102 0 0 0

189 PLBOS0000068 BOC1213 BS ATS PLN 100 1 100 0 0 0

190 PLNFI0600028 06N0213 WSE ATS PLN 97 18 100 0 0 0

191 PLADVPL00037 ADV1114 WSE ATS PLN 93 11 97 0 0 0


325

Fact Book 2013




tions

Turnover value


tions

Turnover value


192 PLPTIW000022 PTI0714 WSE ATS PLN 90 9 94 0 0 0

193 PLMURPL00042 MUR0515 WSE ATS PLN 922 12 93 0 0 0

194 PLHOOP000085 KFO1214 WSE ATS PLN 82 4 85 0 0 0

195 PLECISC00023 ECS0115 WSE ATS PLN 78 14 80 3 200 6 3 233

196 PLBSTII00020 BS20614 WSE ATS PLN 74 12 79 0 0 0

197 PLREDAN00068 RDN0814 WSE ATS PLN 72 16 73 0 0 0

198 PLECISC00015 ECI0115 WSE ATS PLN 65 14 67 200 2 202

199 PLLSTIA00034 LST0614 WSE ATS PLN 65 22 67 0 0 0


201 PLTRKPL00048 TRK1213 WSE ATS PLN 60 9 58 0 0 0


203 PLWDENG00024 WDK0712 WSE ATS PLN 56 7 57 0 0 0

204 PLAOWFK00019 AOW0512 WSE ATS PLN 536 25 55 0 0 0


206 PLBPCZT00015 BPO0721 WSE ATS PLN 5 4 52 0 0 0

207 PLODLZW00019 OZE0813 WSE ATS PLN 45 8 45 0 0 0

208 PLPLPGR00044 PPG1012 WSE ATS PLN 44 7 45 0 0 0



211 PLBOS0000092 BOF1014 WSE ATS PLN 39 5 40 0 0 0

212 PLFRMGR00023 F510914 WSE ATS PLN 371 20 39 0 0 0


214 PLKRINK00121 KRI0916 WSE ATS PLN 35 7 37 0 0 0

215 PLPRGNK00033 PRI0912 WSE ATS PLN 31 8 33 0 0 0

216 PLMLMSK00030 MLX0813 WSE ATS PLN 31 13 31 0 0 0

217 PLOSHEE00026 OSH0314 WSE ATS PLN 30 3 30 0 0 0

218 PLSCNDV00017 SDV0314 WSE ATS PLN 285 7 29 0 0 0


220 PLMERA000027 MER0412 WSE ATS PLN 264 11 27 0 0 0

221 PLEKGPF00086 EKK0513 WSE ATS PLN 22 6 23 0 0 0


223 PLPNSKA00026 PAN0614 WSE ATS PLN 20 1 20 0 0 0


326

CATALYST




tions

Turnover value


tions

Turnover value


224 PLPNSKA00018 PAN1214 WSE ATS PLN 20 1 20 700 1 714



227 PLNFI0400056 BLI1213 WSE ATS PLN 146 2 15 0 0 0

228 PLBDSTL00041 BL50313 WSE ATS PLN 135 3 12 0 0 0

229 PLWDKEN00042 WDK0112 WSE ATS PLN 10 3 11 0 0 0

230 PLHOOP000069 KFL1213 WSE ATS PLN 10 1 11 0 0 0

231 PLNRDCD00017 NOR0414 WSE ATS PLN 5 1 10 0 0 0



234 PLBSTNS00052 BS31113 WSE ATS PLN 5 1 5 0 0 0




238 PLNFI0600028 06N0213 BS ATS PLN 0 0 0 0 0 0

239 PLAOWFK00027 AOW0214 BS ATS PLN 0 0 0 0 0 0

240 PLAOWFK00019 AOW0512 BS ATS PLN 0 0 0 0 0 0

241 PLARCHM00016 ARH0713 BS ATS PLN 0 0 0 0 0 0

242 PLNFI1200091 BBD0213 BS ATS PLN 0 0 0 0 0 0

243 PLNFI1200091 BBD0213 WSE ATS PLN 0 0 0 0 0 0

244 PLNFI1200109 BBD0214 BS ATS PLN 0 0 0 0 0 0

245 PLNFI1200117 BBI0214 WSE ATS PLN 0 0 0 0 0 0

246 PLNFI1200117 BBI0214 BS ATS PLN 0 0 0 0 0 0

247 PLNFI1200133 BBI0215 BS ATS PLN 0 0 0 0 0 0

248 PLNFI1000079 BBZ0312 BS ATS PLN 0 0 0 0 0 0


250 PLNFI1000087 BBZ0712 BS ATS PLN 0 0 0 0 0 0

251 PL0000500047 BGK0215 BS ATS PLN 0 0 0 0 0 0

252 PL0000500054 BGK0514 BS ATS PLN 0 0 0 0 0 0

253 PL0000500088 BGK1016 BS ATS PLN 0 0 0 0 0 0


255 PLNFI0400056 BLI1213 BS ATS PLN 0 0 0 0 0 0


327

Fact Book 2013




tions

Turnover value


tions

Turnover value


256 PLBOS0000050 BOB1213 BS ATS PLN 0 0 0 0 0 0

257 PLBOS0000084 BOE1014 BS ATS PLN 0 0 0 0 0 0

258 PLBOS0000092 BOF1014 BS ATS PLN 0 0 0 0 0 0

259 PLBOS0000118 BOH0215 BS ATS PLN 0 0 0 0 0 0

260 PLBSTII00012 BS20613 BS ATS PLN 0 0 0 0 0 0

261 PLBSTII00012 BS20613 WSE ATS PLN 0 0 0 0 0 0

262 PLBSTII00020 BS20614 BS ATS PLN 0 0 0 0 0 0

263 PLBSTNS00011 BS30212 BS ATS PLN 0 0 0 0 0 0













276 PLBEST000051 BST0512 BS ATS PLN 0 0 0 0 0 0





281 PLCPPRK00011 CAP0715 BS ATS PLN 0 0 0 0 0 0

282 PLDEKPL00016 DKP0214 BS ATS PLN 0 0 0 0 0 0

283 PLDMINM00016 DMM0914 BS ATS PLN 0 0 0 0 0 0


285 PLDMDVL00038 DOM0217 BS ATS PLN 0 0 0 0 0 0

286 PLDPTRP00010 DTP1114 BS ATS PLN 0 0 0 0 0 0

287 PLECHPS00100 ECH0515 BS ATS PLN 0 0 0 0 0 0


328

CATALYST




tions

Turnover value


tions

Turnover value


288 PLEFH0000014 EFHOHA BS RM PLN 0 0 0 0 0 0

289 PL0000400099 EIB0526 WSE RM PLN 0 0 0 0 0 0

290 PL0000400024 EIB0617 WSE RM PLN 0 0 0 0 0 0

291 PLENERG00014 ENG1019 BS ATS PLN 0 0 0 0 0 0

292 PLERBUD00046 ERB0714 BS ATS PLN 0 0 0 0 0 0

293 PLFSTFC00038 FFI0315 BS ATS PLN 0 0 0 0 0 0

294 PLFERRO00040 FRO0416 BS ATS PLN 0 0 0 0 0 0

295 PLGHLMC00040 GHI0415 BS ATS PLN 0 0 0 0 0 0

296 PLNOBLE00041 GNB0817 BS ATS PLN 0 0 0 0 0 0



299 PLGANT000196 GND0312 BS ATS PLN 0 0 0 0 0 0

300 PLGANT000196 GND0312 WSE ATS PLN 0 0 0 0 0 0



303 PLGETBK00038 GNF0618 BS ATS PLN 0 0 0 0 0 0

304 PLNOBLE00066 GNO0917 BS ATS PLN 0 0 0 0 0 0

305 PLGANT000139 GNT0312 BS ATS PLN 0 0 0 0 0 0








313 PL0000500070 IDS1022 BS RM PLN 0 0 0 0 0 0

314 PLIIF0000021 IIF0114 WSE ATS PLN 0 0 0 0 0 0

315 PLIMPCN00037 IMC1112 WSE ATS PLN 0 0 0 0 0 0

316 PL0000500013 IPS1014 BS RM PLN 0 0 0 0 0 0

317 PL0000500062 IWS0645 BS RM PLN 0 0 0 0 0 0

318 PL0000500062 IWS0645 WSE RM PLN 0 0 0 0 0 0

319 PLZPMHK00010 KAN0913 BS ATS PLN 0 0 0 0 0 0


329

Fact Book 2013




tions

Turnover value


tions

Turnover value




322 PLHOOP000069 KFL1213 BS ATS PLN 0 0 0 0 0 0

323 PLHOOP000077 KFL1214 BS ATS PLN 0 0 0 0 0 0

324 PLHOOP000085 KFO1214 BS ATS PLN 0 0 0 0 0 0

325 PLKRK0000184 KN10316 WSE ATS PLN 0 0 0 0 0 0

326 PLKRINK00113 KR20116 BS ATS PLN 0 0 0 0 0 0







333 PLKNCPT00012 KWS0313 BS ATS PLN 0 0 0 0 0 0

334 PLFBRD000059 LBD1213 BS ATS PLN 0 0 0 0 0 0

335 PLMOBRK00039 MBR0814 BS ATS PLN 0 0 0 0 0 0

336 PLMCIMG00137 MCI0314 BS ATS PLN 0 0 0 0 0 0


338 PLMCIMG00111 MCI0912 WSE ATS PLN 0 0 0 0 0 0


340 PLMKDOM00010 MKD0713 BS ATS PLN 0 0 0 0 0 0

341 PLMLMSK00014 MLX0414 BS ATS PLN 0 0 0 0 0 0

342 PLMLMSK00022 MLX0714 WSE ATS PLN 0 0 0 0 0 0

343 PLMLMSK00030 MLX0813 BS ATS PLN 0 0 0 0 0 0

344 PLMLMDP00056 MMP0617 BS ATS PLN 0 0 0 0 0 0

345 PLMEWSA00027 MSA0613 BS ATS PLN 0 0 0 0 0 0

346 PLMURPL00034 MUR0415 WSE ATS PLN 0 0 0 0 0 0

347 PLMURPL00034 MUR0415 BS ATS PLN 0 0 0 0 0 0



350 PLMRVPL00057 MVF1213 BS ATS PLN 0 0 0 0 0 0

351 PLMRVPL00065 MVG1213 BS ATS PLN 0 0 0 0 0 0


330

CATALYST




tions

Turnover value


tions

Turnover value


352 PLMRVPL00073 MVP0114 BS ATS PLN 0 0 0 0 0 0






358 PLNMV0000012 NMV0114 WSE ATS PLN 0 0 0 0 0 0

359 PLODRTS00025 ODR1114 BS ATS PLN 0 0 0 0 0 0

360 PLMZCOR00019 ORK0312 BS ATS PLN 0 0 0 0 0 0



363 PLORZL000068 ORL0412 BS ATS PLN 0 0 0 0 0 0

364 PLORZL000100 ORL0814 BS ATS PLN 0 0 0 0 0 0

365 PLODLZW00019 OZE0813 BS ATS PLN 0 0 0 0 0 0

366 PLPRMCM00014 PCM0312 BS ATS PLN 0 0 0 0 0 0

367 PLPRMCM00022 PCM0314 BS ATS PLN 0 0 0 0 0 0

368 PLPCZ0000043 PCZ0615 BS ATS PLN 0 0 0 0 0 0

369 PLPCZ0000068 PCZ1015 BS ATS PLN 0 0 0 0 0 0

370 XS0545031642 PKO1015 BS ATS EUR 0 0 0 0 0 0

371 PLPLKMT00015 PLK0915 BS ATS PLN 0 0 0 2 000 1 1 019 370

372 PLPLPGR00036 PPG0912 WSE ATS PLN 0 0 0 0 0 0

373 PLPRESC00059 PRE0814 BS ATS PLN 0 0 0 0 0 0

374 PLPRESC00042 PRE1213 BS ATS PLN 0 0 0 0 0 0

375 PLNFI0500038 RBC0413 BS ATS PLN 0 0 0 0 0 0

376 PLNFI0500046 RBC0912 BS ATS PLN 0 0 0 0 0 0

377 PLRNSER00011 RNA0414 BS ATS PLN 0 0 0 0 0 0

378 PLRNSER00029 RNB0414 BS ATS PLN 0 0 0 0 0 0

379 PLRNKPR00030 RNK1213 BS ATS PLN 0 0 0 0 0 0

380 PLROBYG00073 ROB0415 BS ATS PLN 0 0 0 0 0 0

381 PLROBYG00081 ROB0615 WSE ATS PLN 0 0 0 0 0 0




331

Fact Book 2013




tions

Turnover value


tions

Turnover value




386 PLROBYG00099 ROG0615 BS ATS PLN 0 0 0 0 0 0

387 PLROBYG00099 ROG0615 WSE ATS PLN 0 0 0 0 0 0

388 PLSCNDV00017 SDV0314 BS ATS PLN 0 0 0 0 0 0

389 PLCMPLD00156 SGN0313 BS ATS PLN 0 0 0 0 0 0

390 PLSOLVC00018 SOL0412 WSE ATS PLN 0 0 0 0 0 0

391 PLTRUST00010 TRU0614 BS ATS PLN 0 0 0 0 0 0

392 PLTRUST00028 TRU1214 BS ATS PLN 0 0 0 0 0 0

393 PLWRTHL00024 WHH1214 BS ATS PLN 0 0 0 0 0 0

394 PLELPO000099 WIK0713 BS ATS PLN 0 0 0 0 0 0

395 PLWDRZW00019 WLO0613 BS ATS PLN 0 0 0 0 0 0

396 PLWDSIP00017 WSP0917 BS ATS PLN 0 0 0 0 0 0

397 AT0000A0PCA4 WXF0514 BS ATS PLN 0 0 0 0 0 0

Co-operative bonds

1 PLBPS0000032 BPS0718 WSE ATS PLN 40 377 744 41 002 0 0 0

2 PLPBS0000024 PBS1021 WSE ATS PLN 110 340 379 11 259 2 383 1 240

3 PLBSLIM00011 BSL0521 WSE ATS PLN 6 882 113 7 081 0 0 0

4 PLSBRIR00017 BSW0721 WSE ATS PLN 5 770 122 5 880 1 650 3 1 701

5 PLBSPOM00010 BOM0221 WSE ATS PLN 5 721 153 5 878 0 0 0

6 PLBSBR000023 BRB0425 WSE ATS PLN 5 554 112 5 708 244 2 247

7 PLPBS0000016 PBS0720 WSE ATS PLN 4 472 256 4 651 3 764 5 3 933

8 PLBSSKR00011 BSS0418 WSE ATS PLN 4 482 175 4 618 128 1 129

9 PLKRBSP00017 SBK1020 WSE ATS PLN 3 746 236 3 887 0 0 0

10 PLKBSAK00014 KBS0518 WSE ATS PLN 24 831 140 2 562 3 000 1 310

11 PLPBSC000024 BSC0621 WSE ATS PLN 2 396 155 2 426 568 1 582

12 PLWAWBS00014 WBS0521 WSE ATS PLN 1 830 77 1 874 0 0 0



15 PLMBSLM00013 MBS0720 WSE ATS PLN 1 004 21 1 017 500 2 514

16 PLBSPIA00017 BSP0620 WSE ATS PLN 855 48 863 0 0 0


332

CATALYST




tions

Turnover value


tions

Turnover value


17 PLSBRS000024 SBR0725 WSE ATS PLN 641 38 651 0 0 0

18 PLPBSC000016 BSC0620 WSE ATS PLN 560 10 564 0 0 0

19 PLSBRS000016 SBR0325 WSE ATS PLN 527 55 544 250 1 263

20 PLOKBS000017 OKB0520 WSE ATS PLN 534 8 534 0 0 0

21 PLBSPT000017 BPT0620 WSE ATS PLN 525 4 529 0 0 0

22 PLBSTCH00025 BTY0317 WSE ATS PLN 319 43 330 0 0 0

23 PLPMBSZ00016 PMS0624 WSE ATS PLN 309 35 314 0 0 0

24 PLBSPLS00021 BPL0422 WSE ATS PLN 1 085 6 113 0 0 0

25 PLSBRIR00025 BSW0715 WSE ATS PLN 1 036 4 105 29 000 2 2 968

26 PLBSTCH00017 BTY1216 WSE ATS PLN 50 7 51 0 0 0

27 PLGBSBR00015 GBS0621 WSE ATS PLN 38 6 39 0 0 0

28 PLBBSDR00012 BBS1225 WSE ATS PLN 10 1 10 0 0 0

29 PLPBSC000032 BSC0927 WSE ATS PLN 10 4 10 0 0 0

30 PLBSPLS00013 BPL0421 WSE ATS PLN 10 4 10 0 0 0

31 PLESBSR00014 ESB0725 WSE ATS PLN 8 4 8 1 230 3 1 265

32 PLBPS0000032 BPS0718 BS ATS PLN 0 0 0 0 0 0

Municipal bonds

1 PL0003200017 WAW1019 WSE RM PLN 2 526 76 2 771 0 0 0

2 PL0003200025 WAW0922 WSE RM PLN 2 439 55 2 602 0 0 0

3 PL0001200019 RYB1213 BS RM PLN 927 3 949 0 0 0

4 PL0003200041 WAW1017 WSE RM PLN 674 15 697 0 0 0

5 PL0011200041 USM0314 WSE ATS PLN 679 6 693 0 0 0

6 PL0013200023 KON0916 WSE ATS PLN 487 4 521 0 0 0

7 PL0005200023 KRN1212 WSE ATS PLN 492 3 509 0 0 0

8 PL0003200025 WAW0922 BS RM PLN 410 1 431 0 0 0

9 PL0003200074 WAW0318 WSE RM PLN 301 39 322 0 0 0

10 PL0011300023 WSL0314 WSE ATS PLN 281 4 288 0 0 0

11 PL0011300015 WSL0313 WSE ATS PLN 283 2 287 0 0 0

12 PL0003200041 WAW1017 BS RM PLN 152 1 153 0 0 0

13 PL0013200015 KON0715 WSE ATS PLN 122 24 128 0 0 0

14 PL0006200030 PLZ0917 WSE ATS PLN 100 19 109 0 0 0


333

Fact Book 2013




tions

Turnover value


tions

Turnover value


15 PL0012200016 BRZ1016 WSE ATS PLN 76 2 81 0 0 0

16 PL0006200014 PLZ0915 WSE ATS PLN 66 5 70 0 0 0

17 PL0006200022 PLZ0916 WSE ATS PLN 62 3 67 0 0 0

18 PL0018200010 WCL1225 WSE RM PLN 50 3 54 0 0 0

19 PL0011200058 USM0315 WSE ATS PLN 31 4 32 0 0 0

20 PL0009200029 RAD0912 WSE RM PLN 23 1 23 0 0 0

21 PL0011200033 USM0213 WSE ATS PLN 14 1 14 0 0 0

22 PL0017200011 ELG0319 WSE RM PLN 10 1 10 0 0 0

23 PL0008200053 TCZ0817 WSE ATS PLN 8 4 8 0 0 0

24 PL0010200026 ZAM1212 WSE ATS PLN 6 2 6 0 0 0

25 PL0011200025 USM0212 WSE ATS PLN 6 1 6 0 0 0

26 PL0019200019 BRD1023 WSE RM PLN 0 0 0 0 0 0

27 PL0019200019 BRD1023 BS RM PLN 0 0 0 0 0 0

28 PL0017200011 ELG0319 BS RM PLN 0 0 0 0 0 0

29 PL0017200029 ELG0320 WSE RM PLN 0 0 0 0 0 0

30 PL0017200029 ELG0320 BS RM PLN 0 0 0 0 0 0

31 PL0017200037 ELG0321 WSE RM PLN 0 0 0 0 0 0

32 PL0017200037 ELG0321 BS RM PLN 0 0 0 0 0 0

33 PL0017200045 ELG0322 WSE RM PLN 0 0 0 0 0 0

34 PL0017200045 ELG0322 BS RM PLN 0 0 0 0 0 0

35 PL0017200052 ELG0523 BS RM PLN 0 0 0 0 0 0

36 PL0017200052 ELG0523 WSE RM PLN 0 0 0 0 0 0

37 PL0017200060 ELG0524 WSE RM PLN 0 0 0 0 0 0

38 PL0017200060 ELG0524 BS RM PLN 0 0 0 0 0 0

39 PL0017200078 ELG0625 WSE RM PLN 0 0 0 0 0 0

40 PL0017200078 ELG0625 BS RM PLN 0 0 0 0 0 0

41 PL0001200035 RYB1117 BS RM PLN 0 0 0 0 0 0

42 PL0001200027 RYB1214 BS RM PLN 0 0 0 0 0 0

43 PL0020200016 WAL1025 WSE RM PLN 0 0 0 0 0 0

44 PL0020200016 WAL1025 BS RM PLN 0 0 0 0 0 0

45 PL0020200024 WAL1027 BS RM PLN 0 0 0 0 0 0

46 PL0020200024 WAL1027 WSE RM PLN 0 0 0 0 0 0


334

CATALYST




tions

Turnover value


tions

Turnover value


47 PL0003200074 WAW0318 BS RM PLN 0 0 0 0 0 0

48 PL0003200066 WAW0321 WSE RM PLN 0 0 0 0 0 0

49 PL0003200066 WAW0321 BS RM PLN 0 0 0 0 0 0

50 PL0003200017 WAW1019 BS RM PLN 0 0 0 0 0 0

51 PL0018200010 WCL1225 BS RM PLN 0 0 0 0 0 0

Treasury bonds

1 PL0000106712 OK0114 WSE RM PLN 72 123 1 580 67 122 200 1 185

2 PL0000106324 OK0113 WSE RM PLN 54 857 992 53 246 252 1 151

3 PL0000107009 OK0714 WSE RM PLN 46 856 584 43 514 0 0 0

4 PL0000106563 OK0713 WSE RM PLN 42 286 1 039 40 351 0 0 0

5 PL0000105912 OK0712 WSE RM PLN 38 200 500 37 703 0 0 0

6 PL0000106126 DS1020 WSE RM PLN 20 670 487 21 827 200 1 215

7 PL0000106068 WZ0121 WSE RM PLN 21 361 182 21 151 0 0 0

8 PL0000104717 WZ0118 WSE RM PLN 20 178 203 20 198 793 3 785

9 PL0000105441 DS1019 WSE RM PLN 18 304 131 20 022 0 0 0

10 PL0000105359 IZ0823 WSE RM PLN 14 885 28 17 636 0 0 0

11 PL0000105433 PS0414 WSE RM PLN 15 518 462 16 409 1 000 2 1 068

12 PL0000106670 DS1021 WSE RM PLN 12 260 100 13 482 850 2 877

13 PL0000106894 TZ0215 WSE RM PLN 112 621 355 11 390 0 0 0

14 PL0000105953 PS0415 WSE RM PLN 10 617 411 11 180 0 0 0

15 PL0000106100 OK1012 WSE RM PLN 10 323 278 10 129 0 0 0

16 PL0000103602 DS1015 WSE RM PLN 8 921 418 9 697 0 0 0

17 PL0000106662 TZ0814 WSE RM PLN 89 821 566 9 065 0 0 0

18 PL0000104543 DS1017 WSE RM PLN 8 302 260 8 815 0 0 0

19 PL0000102836 DS1013 WSE RM PLN 8 361 74 8 573 0 0 0

20 PL0000106787 TZ1114 WSE RM PLN 81 464 630 8 217 0 0 0

21 PL0000102646 WS0922 WSE RM PLN 7 183 168 7 747 500 2 518

22 PL0000106340 PS0416 WSE RM PLN 7 421 428 7 680 2 750 5 2 844

23 PL0000105730 OK0112 WSE RM PLN 6 091 58 6 082 400 1 400

24 PL0000107264 DS1023 WSE RM PLN 6 062 12 6 034 0 0 0

25 PL0000105391 WS0429 WSE RM PLN 5 272 29 5 747 0 0 0


335

Fact Book 2013




tions

Turnover value


tions

Turnover value


26 PL0000104543 DS1017 BS RM PLN 5 543 5 5 670 0 0 0

27 PL0000106449 TZ0214 WSE RM PLN 47 312 283 4 764 0 0 0

28 PL0000106480 WZ0115 WSE RM PLN 4 553 116 4 594 0 0 0

29 PL0000106936 WZ0117 WSE RM PLN 3 966 71 3 977 0 0 0

30 PL0000106795 PS1016 WSE RM PLN 3 623 189 3 710 0 0 0

31 PL0000106712 OK0114 BS RM PLN 3 620 3 3 306 0 0 0

32 PL0000106126 DS1020 BS RM PLN 3 323 4 3 306 0 0 0

33 PL0000102836 DS1013 BS RM PLN 3 068 5 3 114 0 0 0

34 PL0000106555 TZ0514 WSE RM PLN 24 194 285 2 440 0 0 0

35 PL0000107058 PS0417 WSE RM PLN 2 202 31 2 299 0 0 0

36 PL0000106332 TZ1113 WSE RM PLN 22 089 207 2 227 0 0 0

37 PL0000105037 PS0413 WSE RM PLN 1 988 69 2 022 1 000 2 1 026

38 PL0000106225 TZ0813 WSE RM PLN 17 949 175 1 809 0 0 0

39 PL0000105995 TZ0213 WSE RM PLN 14 845 192 1 498 0 0 0

40 PL0000105441 DS1019 BS RM PLN 1 362 2 1 383 0 0 0

41 PL0000103602 DS1015 BS RM PLN 1 237 4 1 321 0 0 0

42 PL0000106118 TZ0513 WSE RM PLN 12 073 119 1 219 0 0 0

43 PL0000105904 TZ1112 WSE RM PLN 10 260 117 1 039 0 0 0

44 PL0000103529 IZ0816 WSE RM PLN 730 57 962 0 0 0

45 PL0000107009 OK0714 BS RM PLN 1 000 1 925 0 0 0

46 PL0000105664 TZ0512 WSE RM PLN 8 169 45 828 0 0 0

47 PL0000104857 WS0437 WSE RM PLN 747 86 786 0 0 0

48 PL0000106340 PS0416 BS RM PLN 709 3 733 0 0 0

49 PL0000105771 TZ0812 WSE RM PLN 7 066 85 712 0 0 0

50 PL0000106563 OK0713 BS RM PLN 384 2 368 0 0 0

51 PL0000105912 OK0712 BS RM PLN 334 1 331 0 0 0

52 PL0000107058 PS0417 BS RM PLN 215 1 219 0 0 0

53 PL0000106324 OK0113 BS RM PLN 200 1 192 0 0 0

54 PL0000104659 PS0412 WSE RM PLN 151 6 157 250 1 261

55 PL0000106449 TZ0214 BS RM PLN 1 450 1 146 0 0 0

56 PL0000102646 WS0922 BS RM PLN 120 1 124 0 0 0

57 PL0000105565 TZ0212 WSE RM PLN 1 043 15 106 0 0 0


336

CATALYST




tions

Turnover value


tions

Turnover value


58 PL0000106068 WZ0121 BS RM PLN 102 1 99 0 0 0

59 PL0000106670 DS1021 BS RM PLN 0 0 0 0 0 0

60 PL0000107264 DS1023 BS RM PLN 0 0 0 0 0 0

61 PL0000103529 IZ0816 BS RM PLN 0 0 0 0 0 0

62 PL0000105359 IZ0823 BS RM PLN 0 0 0 0 0 0

63 PL0000105730 OK0112 BS RM PLN 0 0 0 0 0 0

64 PL0000106100 OK1012 BS RM PLN 0 0 0 0 0 0

65 PL0000104659 PS0412 BS RM PLN 0 0 0 0 0 0

66 PL0000105037 PS0413 BS RM PLN 0 0 0 0 0 0

67 PL0000105433 PS0414 BS RM PLN 0 0 0 0 0 0

68 PL0000105953 PS0415 BS RM PLN 0 0 0 0 0 0

69 PL0000107314 PS0418 BS RM PLN 0 0 0 0 0 0

70 PL0000107314 PS0418 WSE RM PLN 0 0 0 0 0 0

71 PL0000106795 PS1016 BS RM PLN 0 0 0 0 0 0

72 PL0000105565 TZ0212 BS RM PLN 0 0 0 0 0 0

73 PL0000105995 TZ0213 BS RM PLN 0 0 0 0 0 0

74 PL0000106894 TZ0215 BS RM PLN 0 0 0 0 0 0

75 PL0000105664 TZ0512 BS RM PLN 0 0 0 0 0 0

76 PL0000106118 TZ0513 BS RM PLN 0 0 0 0 0 0

77 PL0000106555 TZ0514 BS RM PLN 0 0 0 0 0 0

78 PL0000105771 TZ0812 BS RM PLN 0 0 0 0 0 0

79 PL0000106225 TZ0813 BS RM PLN 0 0 0 0 0 0

80 PL0000106662 TZ0814 BS RM PLN 0 0 0 0 0 0

81 PL0000105904 TZ1112 BS RM PLN 0 0 0 0 0 0

82 PL0000106332 TZ1113 BS RM PLN 0 0 0 0 0 0

83 PL0000106787 TZ1114 BS RM PLN 0 0 0 0 0 0

84 PL0000105391 WS0429 BS RM PLN 0 0 0 0 0 0

85 PL0000104857 WS0437 BS RM PLN 0 0 0 0 0 0

86 PL0000106480 WZ0115 BS RM PLN 0 0 0 0 0 0

87 PL0000106936 WZ0117 BS RM PLN 0 0 0 0 0 0

88 PL0000104717 WZ0118 BS RM PLN 0 0 0 0 0 0


337

Fact Book 2013




tions

Turnover value


tions

Turnover value


Mortgage bonds

1 PLRHNHP00250 BREHA17 WSE RM PLN 84 297 6 84 675 0 0 0

2 PLRHNHP00268 BREHA18 WSE RM PLN 27 250 3 27 418 27 250 3 27 541


4 PLRHNHP00193 BREHA12 WSE RM PLN 10 700 2 10 986 0 0 0


6 PLBPHHP00085 PEOH204 WSE RM PLN 600 2 595 0 0 0

7 PLBPHHP00010 BPHLZ01 BS RM PLN 10 1 10 0 0 0

8 PLBPHHP00044 BPHLZ04 BS RM PLN 0 0 0 0 0 0

9 PLRHNHP00151 BREHA08 WSE RM PLN 0 0 0 0 0 0

10 PLRHNHP00151 BREHA08 BS RM PLN 0 0 0 0 0 0




















30 PLRHNHP00300 BREHE01 WSE RM EUR 0 0 0 0 0 0

31 PLRHNHP00300 BREHE01 BS RM EUR 0 0 0 0 0 0


338

CATALYST




tions

Turnover value


tions

Turnover value


32 PLRHNHP00144 BREHPA7 BS RM PLN 0 0 0 0 0 0

33 PLBPHHP00069 PEK0321 BS RM PLN 0 0 0 0 0 0

34 PLBPHHP00051 PEK1020 BS RM PLN 0 0 0 0 0 0


36 PLBPHHP00077 PEOH203 BS RM PLN 0 0 0 0 0 0




40 PLBPHHP00101 PEOH206 BS RM EUR 0 0 0 0 0 0

41 PLBPHHP00101 PEOH206 WSE RM EUR 0 0 0 0 0 0


1 PLRHNHP00201 BREPA05 BS RM PLN 0 0 0 0 0 0

2 PLRHNHP00201 BREPA05 WSE RM PLN 0 0 0 0 0 0





7 PLRHNHP00045 BREPUA1 BS RM PLN 0 0 0 0 0 0



WSE RM – WSE Regulated MarketWSE ATS – WSE Alternative Trading SystemBS RM – BondSpot Regulated MarketBS ATS – BondSpot Alternative Trading System


339

Fact Book 2013

Bonds on Catalyst – key figures*

2012 2011 2010 2009TotalContinuous trading Number of issuers at year-end 153 98 48 12 Number of bonds listed at year-end 334 226 120 60 Total turnover value for the year (PLN million) 1 517 1 191 1 466 1 464 Average turnover per session (PLN million) 6.09 4.74 5.80 5.81 Number of transactions per session 170 119 95 95 Average value of transaction (PLN) 35 855 39 747 61 202 61 334

Block trades Number of transactions (single-counted) 207 215 57 92 Average value of transaction (PLN million) 6.07 5.95 4.86 27.27 Total turnover value for the year (PLN million) 1 256 1 280 277 2 509

Warsaw Stock Exchange Continuous trading Number of issuers at year-end 135 84 41 8 Number of bonds listed at year-end 291 195 109 53 Total turnover value for the year (PLN million) 1 428 1 072 1 359 1 433 Average turnover per session (PLN million) 5.73 4.27 5.37 5.69 Number of transactions per session 169 119 94 95 Average value of transaction (PLN) 33 879 35 986 57 047 60 096

Block trades Number of transactions (single-counted) 198 180 44 20 Average value of transaction (PLN million) 1.15 1.30 5.79 2.22 Total turnover value for the year (PLN million) 228 234 255 44

BondSpot Continuous trading Number of issuers at year-end 70 44 19 7 Number of bonds listed at year-end 182 143 72 50 Total turnover value for the year (PLN million) 89 119 108 31 Average turnover per session (PLN million) 0.36 0.47 0.43 0.48 Number of transactions per session (single-counted) 1 1 1 0 Average value of transaction (PLN) 531 374 658 476 753 173 1 344 648

Block trades Number of transactions (single-counted) 9 35 13 72 Average value of transaction (PLN million) 114.17 29.89 1.72 34.23 Total turnover value for the year (PLN million) 1 027 1 046 22 2 465

*Excluding authorised bonds

340

CATALYST

Mortgage bonds on Catalyst – key figures

2012 2011 2010 2009

Total

Continuous trading

Number of issuers at year-end 2 2 2 2

Number of bond series listed at year-end 23 20 17 16

Total turnover value for the year (PLN) 148 173 984 23 561 985 19 651 118 19 746

Average turnover per session (PLN) 595 076 93 872 77 672 309

Number of transactions per session 0 0 0 0

Average value of transaction (PLN) 9 878 266 1 178 099 1 091 729 3 949

Block trades

Number of transactions 6 --- 1 ---

Average value of transaction (PLN) 16 695 797 --- 30 233 100 ---

Total turnover value for the year (PLN) 100 174 780 --- 30 233 100 ---


Continuous trading

Number of issuers at year-end 2 2 1 ---

Number of bond series listed at year-end 21 12 6 ---

Total turnover value for the year (PLN million) 148 173 984 261 766 0 ---

Average turnover per session (PLN million) 595 076 1 043 0 ---

Number of transactions per session 0 0 0 ---

Average value of transaction (PLN) 9 878 266 87 255 0 ---

Block trades

Number of transactions 6 --- --- ---

Average value of transaction (PLN) 16 695 797 --- --- ---

Total turnover value for the year (PLN) 100 174 780 --- --- ---

BondSpot

Continuous trading

Number of issuers at year-end 2 2 2 2

Number of bond series listed at year-end 23 20 17 16

Total turnover value for the year (PLN million) 0 23 561 985 19 651 118 19 746

Average turnover per session (PLN million) 0 93 872 77 672 309

Number of transactions per session 0 0 0 0

Average value of transaction (PLN) 0 1 178 099 1 091 729 3 949

Block trades

Number of transactions (single-counted) --- --- 1 ---

Average value of transaction (PLN) --- --- 30 233 100 ---

Total turnover value for the year (PLN) --- --- 30 233 100 ---

341

Fact Book 2013

Catalyst Trading Rules

Trading Rules on WSE marketsWithin Catalyst, an issuer of debt instruments (corporate, municipal or mortgage bonds, or other debt instruments) may choose one of WSE’s two markets: a regulated market or an unregulated market (alternative trading system, ATS). These markets differ in terms of admission criteria to be fulfilled by instru-ments. Trading on regulated markets is order--driven whereas non-regulated markets com-prise: order-driven market (with a market anima-

tor), or price-driven market (with a market maker).

Continuous trading as well as single-price sy-stem with two auctions is available on both markets. Market animators, which operate on order-driven markets, stimulate trading i.e. ensure liquidity of instruments issued by a particular issuer. Market makers, which operate on price-driven markets, undertake quoting i.e. they place buy/sell orders. Mar-

ket makers are always a party to each tran-saction. The choice of the market and trading system is always made by the issuers, pro-vided their instruments meet the respective admission criteria.

All debt instruments on Catalyst are currently traded on an order-driven market. The order--driven market rules for both WSE-operated markets are identical. Session schedules for the regulated market and for ATS are also identical. Types of orders and execution prio-rities are also the same. The prices of traded instruments are always set with an accuracy of 0.01 percentage point, regardless of price levels.

342

CATALYST

WSE Regulated Market (WSE RM)Session schedule (24h system)Order-driven market – continuous trading

8:00 – 9:00Pre-opening phase (opening call)– orders may be submitted, modified and cancelled– transactions are not executed

9:00

Opening (opening price is determined and transactions are made at the opening)– order submission, modification and cancellation is suspended– transactions are executed at a price equal to the opening price

9:00 – 17:20Continuous trading phase– orders may be submitted, modified and cancelled– transactions are executed

17:20 – 17:30Pre-closing phase (closing call)– orders may be submitted, modified and cancelled– transactions are not executed

17:30

Closing (closing price is determined and transactions are made at the closing)– order submission, modification and cancellation is suspended– transactions are executed at a price equal to the closing price

17:30 – 17:35Pre-opening phase (next day opening call)– orders may be submitted, modified and cancelled– transactions are not executed

Order-driven market – single-price auction


11:00 Opening (single price is determined and transactions are made at the ope-ning)– order submission, modification and cancellation is suspended– transactions are executed at a price equal to the opening price






343

Fact Book 2013

Price variation limits on the regulated marketContinuous trading

Instrument Reference price for the opening

Acceptable price variation for the opening

Acceptable price variation for the session, in case the opening price has been determined*

Corporate bondsMunicipal bondsMortgage bonds

Closing price ±3 percentage points relative to closing price (extendable to ±6 percentage points)

±3 percentage points relati-ve to opening price (extendable to ±6 percenta-ge points)

* If no opening price has been determined at opening, the acceptable price variation limit is deter-mined in relation to the closing price. In continuous trading, there are additional dynamic price variation limits of ±2 points relative to the price of most recent transaction.

Single-price auction system

Instrument Acceptable price variation limit for auction


±3 points relative to reference price at the most recent auction (extendable to ±6 percentage points)

WSE Non-regulated market (WSE ATS) Session schedule (24h system)

Order-driven market – continuous trading8:00 – 9:00 Pre-opening phase (opening call)

– orders may be submitted, modified and cancelled– transactions are not executed






344

CATALYST

Price-driven market – continuous trading9:30 – 17:10 Continuous trading phase

– Market Makers submit orders (quotations)– other market members submit orders– transactions are executed

Order-driven market – single-price auction








Price variation limits on the non-regulated market Continuous trading

Instrument Reference price for the opening

Acceptable price variation for the opening

Acceptable price variation for the session, in case the opening price has been determined*


Closing price ±3 percentage points relative to closing price (extendable to ±6 percentage points)

±3 percentage points relative to opening price (extendable to ±6 percentage points)

* If no opening price has been determined at opening, the acceptable price variation limit is deter-mined in relation to the closing price.

Single-price auction system

Instrument Acceptable price variation limit for auction


±3 points relative to reference price at the most recent auction (extendable to ±6 percentage points)

345

Fact Book 2013

Starting from 15 April 2013, the following abbreviated session schedule will be applied. The schedule is temporary and will be in place until the end of 2013.

WSE Regulated market (WSE RM)and WSE Non-regulated market (WSE ATS)

Continuous trading






17:00 – 17:05 Pre-opening phase (next day opening call)

Single-price auction


11:00 Opening (opening price is determined and transactions are made at the opening)



15:00 Opening (opening price is determined and transactions are made at the opening)



346

CATALYST

Regulated and non-regulated BondSpot market (BS RM and BS ATS)*

Trading day schedule (24h system)

8:30 – 9:00 Animators’ bids – bids from market animators may be placed or removed – transactions are not executed

9:00 – 17:30 Continuous trading – bids from any types of participants may be placed

or removed – transactions are executed automatically

8:30 – 15:00 Block trades– information on block trade terms may be placed

or removed – transactions are confirmed by market supervision

17:30 Closing – bids become invalid and are removed from markets

– transactions are not executed

BondSpot Trading RulesBondSpot operates two markets within the CATALYST system: a regulated non-exchan-ge market and an Alternative Trading System (ATS). The minimum nominal value of an is-sue, equalling PLN 5 million, is the key admis-sion criterion for those markets.

The trading rules for both BondSpot-operated markets are the same. Trading takes place wit-hin a continuous trading system. Additionally, block trades can be executed and deals can be struck for the best bid under a negotiated trade (RFQ), and an inquiry may be sent to a selected market participant.

By definition, both BondSpot-operated mar-kets are wholesale markets, i.e. bids can be placed only if they reach or exceed a mini-mum threshold of PLN 100,000 (nominal va-lue). However, given the market history be-fore the arrival of Catalyst, retail instruments are also traded and the minimum threshold of PLN 100,000 does not apply to them. The price of debt instruments in bids and trades is defined as a percentage of their nominal value, expressed in PLN or in another con-vertible currency specified by BondSpot S.A. Tick sizes are the same for both markets and depend on the nominal value of the instru-ment concerned.

For instruments with a nominal value of: under PLN 100 – tick sizes are presented

with an accuracy of 0.1 points, at least PLN 100 but under PLN 10,000 –

tick sizes are presented with an accuracy of 0.01 points,

at least PLN 10,000 or higher – tick sizes are presented with an accuracy of 0.0001 points.

No price variation limits apply to either of the two markets. Bids placed on these mar-kets are valid until the end of the trading day and are removed from the system at the end of the trading day. Customers can place or-ders with a longer execution period provi-ded that the market participant concerned commits to placing such bids repeatedly as per their customers’ orders up until execu-tion or expiry of such orders.

Additional conditions can be specified for bids. WAN (all or none) – bids must be execu-ted in full, RBZ – bids are executed either in part or

in full; the part which has not been exe-cuted is removed from the market.

Trading schedules for the regulated market and ATS are identical. Types of orders and execution priorities are the same.

* Starting from 15 April 2013, sessions on BondSpot-operated markets will begin at 9:00 and end at 17:00. This change of schedule is temporary.

347

Fact Book 2013

Listing on Catalyst

From an issuer’s perspective, the differen-ces between Catalyst segments primarily consist in differences regarding admission (listing) criteria and the scope of mandatory disclosures.

Catalyst listing for debt instruments may take two forms: introducing an issue to trading on either

a regulated market or within an alterna-tive trading system, or

obtaining a Catalyst authorisation.

Admission/listing on CatalystIssuers who wish to have their instruments traded on a Catalyst regulated market are required to prepare a prospectus and have it approved by the PFSA. However, this re-quirement does not apply to local govern-ments: they are not required to prepare a prospectus even for a public offering but, in-stead, they issue a document with essential information about the issue and the issuer (a so-called ‘information document’). An infor-mation document must also be prepared for instruments to be traded within an ATS. Ru-les pertaining to such documents have been defined in Annex 1 to the WSE ATS Rules and Annex 1 to the BondSpot ATS Rules.

Issuers who have their instruments listed on one of the equities markets operated by the WSE can take advantage of a ‘fast track procedure’ to launch their debt instruments in an alternative trading system. Instead of preparing an information document, such companies are only required to draw up an information sheet with essential data about the issue. Companies which are already li-sted on the regulated market are only requi-red to publish their current report regarding the issue of debt instruments. The content of such reports, defined in the relevant Fi-nance Minister’s ordinance, is identical with that of the information sheet.

Authorisation

Authorisation means that an issue is registe-red within the Catalyst information system and the issuer needs to adhere to the cur-rent and periodic mandatory disclosures de-fined in Annex 1 to the Catalyst Rules. While authorisation is not equivalent to a regula-ted market admission, it nevertheless offers a number of benefits for the issuer such as, e.g., a marketing effect, greater credibility and higher awareness on the financial mar-ket. In order to obtain authorisation, issuers are required to submit an application with attachments. The only attachment which must be prepared specifically for this pur-pose is the so-called ‘report on the issuer’ i.e. a short summary of key data about the issuer and the issue.

348

CATALYST

Catalyst Participants

Only organisations which have been official-ly admitted may engage in direct operations on the Catalyst debt market. According to the existing regulations, the following may become Catalyst participants: an investment company, a foreign investment company, a credit institution or another entity which me-ets the requirements defined in the relevant legislation and can guarantee correct perfor-mance of duties related to the Catalyst mar-ket operations.

Organisations admitted to Catalyst opera-tions may trade in all debt instruments admit-ted to/introduced on Catalyst, on their own account or on their customers’ account.

Organisations which are WSE members, members or participants of the regulated non-exchange BondSpot market or partici-pants of Treasury BondSpot Poland may be admitted to operations on one of the Catalyst markets, excluding admittance to operations on the WSE regulated market, upon notifica-tion of their intent to operate on that market. The intended scope of operations should

correspond with the organisation’s previous scope of operations.

Admission to operations on a Catalyst regu-lated market (WSE or BondSpot regulated non-exchange market) is a prerequisite for admission to operations within the Catalyst alternative trading systems (ATS). Admis-sion to operations on the WSE ATS is a pre-requisite for admission to operations on the BondSpot ATS. Admission to operations on the WSE regulated market is a prerequisite for admission to operations on the BondSpot regulated non-exchange market.

Specific terms of admittance to operations for each market, as well as documents and information to be submitted by applicants are laid down in the rules pertaining to each respective market and in other applicable re-gulations.

Market Animators on Catalyst ATSIn line with the ATS Rules, debt instruments listed in the Catalyst ATS segment must be backed by a Market Animator who has made a valid commitment to perform this role for them. At the end of December 2012 a total of 12 Market Animators were active on Catalyst.

Market animators on Catalyst (as of 31 December 2012):

Powszechna Kasa Oszczędności Bank Polski SANOBLE Securities SA

Copernicus Securities SADom Maklerski BDM SADom Maklerski IDM SADom Maklerski BZ WBK SADom Maklerski AmerBrokers SADom Maklerski Banku BPS SADom Maklerski BOŚ SANWAI Dom Maklerski SAOpera Dom Maklerski Sp. z o.o.ALIOR Bank SA

349

Fact Book 2013

List of CATALYST participants in 2012

No. Name of Catalyst participant WSE regulated

market

BondSpot regulated

market

Alternative Trading System

operated by the WSE


operated by BondSpot

1 ALIOR BANK SA ✔ ✔

2 BANK BPH SA ✔ ✔ ✔

3 BANK DNB NORD POLSKA SA ✔ ✔

4 BANK GOSPODARKI ŻYWNOŚCIOWEJ SA ✔ ✔ ✔ ✔

5 BANK POLSKA KASA OPIEKI SA (PEKAO) ✔ ✔ ✔ ✔

6 DOM MAKLERSKI BDM SA ✔ ✔

7 CENTRALNY DOM MAKLERSKI PEKAO SA ✔ ✔ ✔ ✔

8 COPERNICUS SECURITIES SA ✔ ✔ ✔ ✔

9 DB SECURITIES SA ✔ ✔

10 DOM INWESTYCYJNY BRE BANKU SA ✔ ✔ ✔ ✔

11 DOM MAKLERSKI AMERBROKERS SA ✔ ✔

12 DOM MAKLERSKI BANKU BPS SA ✔ ✔

13 DOM MAKLERSKI BANKU HANDLOWEGO SA ✔ ✔ ✔ ✔

14 DOM MAKLERSKI BOŚ SA ✔ ✔ ✔ ✔

15 DOM MAKLERSKI BZ WBK SA ✔ ✔ ✔ ✔

16 DOM MAKLERSKI IDM SA ✔ ✔

17 TRIGON DOM MAKLERSKI SA ✔ ✔ ✔

18 ERSTE SECURITIES POLSKA SA ✔ ✔ ✔ ✔

19 ING SECURITIES SA ✔ ✔ ✔ ✔

20 IPOPEMA SECURITIES SA ✔ ✔

21 MILLENNIUM DOM MAKLERSKI SA ✔ ✔ ✔ ✔

22 NOBLE SECURITIES S,A. ✔ ✔

23 OPERA DOM MAKLERSKI SP.ZO.O. ✔ ✔ ✔

24 POWSZECHNA KASA OSZCZĘDNOŚCI BANK POLSKI SA (PKO BP) ✔ ✔ ✔ ✔

25 UNICREDIT CAIB POLAND SA ✔ ✔ ✔ ✔

26 X-TRADE BROKERS DOM MAKLERSKI S.A. ✔ ✔

27 KBC SECURITIES N.V. (SPÓŁKA AKCYJNA) ODDZIAŁ W POLSCE ✔ ✔

28BANCO ESPIRITO SANTO DE INVESTIMENTO SA ODDZIAŁ W POLSCE

✔ ✔

29 CONCORDE SECURITIES LTD ✔

30 WOOD & COMPANY FINANCIAL SERVICES AS. ✔

350

CATALYST

No. Name of Catalyst participant WSE regulated

market

BondSpot regulated

market


operated by the WSE


operated by BondSpot

31 RAIFFEISEN CENTROBANK AG ✔

32 RAIFFEISEN BANK POLSKA SA ✔ ✔ ✔

33 CREDIT SUISSE SECURITIES (EUROPE) LTD. ✔

34 JP MORGAN SECURITIES PLC ✔ ✔

35 UNICREDIT BANK AG ✔

36 SOCIETE GENERALE S.A. ✔ ✔*) ✔*)

37 HSBC BANK PLC ✔

38 CYRRUS, A.S. ✔

39 NEONET SECURITIES AB ✔

40 FIO BANKA AS ✔

41 GOLDMAN SACHS INTERNATIONAL ✔

42 MERILL LYNCH INTERNATIONAL ✔

43 LIQUIDNET EUROPE LIMITED ✔

44 UBS EUROPE LIMITED ✔

45 NOMURA INTERNATIONAL plc ✔

46 RENAISSANCE SECURITIES (CYPRUS) LIMITED ✔

47 IP INTERCAPITAL MARKETS AD ✔

48 EQUILOR INVESTMENT LTD. ✔

49 DRAGON CAPITAL (CYPRUS) LTD. ✔

50 NWAI DOM MAKLERSKI S.A. ✔ ✔ ✔ ✔

51 MORGAN STANLEY & CO INTERNATIONAL PLC ✔

52 BNP PARIBAS ARBITRAGE SNC ✔

53 UAB FMI ORION SECURITIES ✔

54 BT SECURITIES SA ✔

55 VTB CAPITAL PLC ✔

56 SIB (CYPRUS) LIMITED ✔

57 CARPATICA INVEST S.A. ✔

58 DOM INWESTYCYJNY XELION SP. Z O.O. ✔

59 WEDBUSH EUROPE LTD. ✔

TOTAL 61 16 29 15

*) Societe Generale SA operates on BondSpot markets through Societe Generale SA Oddział w Polsce.

List of CATALYST participants in 2012 (contd.)

351

Fact Book 2013

No. Catalyst participant Bonds Mortgage bondsContinuous trading Block trades Continuous trading Block trades

(PLN million) (%) (PLN million) (%) (PLN million) (%) (PLN million) (%)

1 PKO BP 641.91 22.48 46 10.10 1 0.34 --- ---

2 DM BH 435.12 15.24 1 0.28 --- --- --- ---

3 DM BZ WBK 406.92 14.25 5 1.12 13 4.39 --- ---

4 CDM PEKAO 195.22 6.84 0 0.08 --- --- --- ---

5 MILL DM 168.25 5.89 8 1.71 23.04 7.77

6 DI BRE Banku 145.92 5.11 93 20.46 209.1 70.56 200.35 100

7 DM BPS 129.58 4.54 28 6.09 --- --- --- ---

8 IDMSA 118.00 4.13 38.42 8.42 --- --- --- ---

9 NOBLE 88.60 3.10 36 7.95 --- --- --- ---

10 ING SECUR 80.34 2.81 2 0.39 --- --- --- ---

11 ERSTE 62.89 2.20 --- --- --- --- --- ---

12 DM BOŚ SA 46.79 1.64 23 4.98 --- --- --- ---

13 COPERNICUS 44.69 1.57 123 26.88 --- --- --- ---

14 DB SECUR. 44.45 1.56 1.16 0.25 --- --- --- ---

15 BDM SA 37.73 1.32 0 0.05 --- --- --- ---

16 ALIOR BM 36.85 1.29 1 0.21 --- --- --- ---

17 KBC SECURITIES 34.97 1.22 13 2.82 --- --- --- ---

18 AMERBROKERS 25.36 0.89 9 1.91 9.99 3.37 --- ---

19 IPOPEMA 23.30 0.82 13 2.78 40.22 13.57 --- ---

20 TRIGON 19.07 0.67 2 0.42 --- --- --- ---

21 DM PEKAO 18.60 0.65 --- --- --- --- --- ---

22 BGŻ SA 11.66 0.41 --- --- --- --- --- ---

23 UNICRCAIB 10.05 0.35 --- --- --- --- --- ---

24 XTB 8.94 0.31 --- --- --- --- --- ---

25 DNB NORD 8.77 0.31 0 0.05 --- --- --- ---

26 BPH 4.76 0.17 --- --- --- --- --- ---

27 NWAI DM 4.38 0.15 2 0.47 --- --- --- ---

28 RAIFFEISEN BANK POLSKA 1.04 0.04 --- --- --- --- --- ---

29 OPERA 0.49 0.02 12 2.59 --- --- --- ---

30 WOOD 0.40 0.01 --- --- --- --- --- ---

31 XELION 0.01 0.00 --- --- --- --- --- ---

TOTAL 2 855.00 100.00 456.21 100.00 296.35 100.00 200.35 100.00

Catalyst participants’ shares in trading on WSE-operated markets in 2012

352

CATALYST

No. Catalyst participant Turnover value (PLN million) Share (%)

1 UniCredit CAIB Poland S.A. 2 103.00 94.08

2 Dom Maklerski Banku Handlowego S.A. 35.56 1.59

3 Centralny Dom Maklerski PEKAO S.A. 28.30 1.27

4 Powszechna Kasa Oszczędności Bank Polski S.A. 19.56 0.88

5 Dom Maklerski BZ WBK S.A. 13.48 0.60

6 Copernicus Securities S.A. 13.38 0.60

7 Dom Maklerski Millennium S.A. 11.86 0.53

8 Opera Dom Maklerski Sp z o.o. 8.04 0.36

9 ING Securities Polska S.A. w Warszawie 1.24 0.06

10 Dom Maklerski Banku Ochrony Środowiska S.A. 0.41 0.02

11 ERSTE Securities Polska S.A. 0.40 0.02

12 Bank PEKAO S.A. Biuro Maklerskie 0.21 0.01

13 Banco Espirito Santo de Investimento S.A. 0.00 0.00

14 Bank Gospodarki Żywnościowej S.A. 0.00 0.00

15 Biuro Maklerskie Banku BPH S.A. 0.00 0.00

16 Bank PEKAO S.A. 0.00 0.00

17 Raiffeisen Bank Polska S.A. 0.00 0.00

18 Dom Inwestycyjny BRE Bank S.A. 0.00 0.00

19 Societe Generale S.A. Oddział w Polsce 0.00 0.00

20 NWAI DM S.A. 0.00 0.00

21 TRIGON DM S.A. 0.00 0.00

22 NOBLE SECURITIES S.A. 0.00 0.00

TOTAL 2 235.44 100.00

Catalyst participants’ shares in trading on BondSpot-operated markets in 2012

353

Fact Book 2013

Authorised Advisers on Catalyst

Authorized Advisers on Catalyst include advisory companies (investment compa-nies, law firms, audit companies or financial consultancies) which have capital market expertise as well as experience in suppor-ting issues of debt instruments, whether corporate, municipal or co-operative. As is the case with NewConnect, each advisory company authorised by the WSE is requi-red, starting from 2012, to employ at least two holders of the Alternative Trading Sy-stem Adviser Certificate. In contrast with NewConnect, an issuer of bonds on Catalyst has no obligation to employ an Authorised Adviser. However, qualified support from

an experienced adviser is recommendable, and sometimes essential. As at the end of 2012, a total of 59 entities were registered as Catalyst Authorised Advisers. The list of Authorised Advisers can be found on page 276.

The Catalyst Strategic Partner Programme

The aim of the Catalyst Strategic Partner Programme is to join efforts undertaken by the WSE and its business partners in pro-moting investment opportunities connected with Catalyst and to take steps aimed at at-tracting new issuers of debt instruments, i.e. companies and local governments interested in obtaining a Catalyst authorization or in in-troducing their debt instruments to trading. Partners receive the Catalyst Strategic Partner title, confirmed with a certificate.At the end of December 2012 the following organisations held the Catalyst Strategic Part-ner title:

Raiffeisen Bank Polska S.A., Powszechna Kasa Oszczędności Bank

Polski S.A., Dom Maklerski Banku BPS S.A.

354

CATALYST

Distribution of Catalyst Information

As is the case with the WSE Main List and NewConnect, Catalyst information is distri-buted by professional vendors which re-ceive market data under a contract signed with the WSE. All exchange data vendors provide their customers with data from WSE-operated Catalyst markets. Data from BondSpot-operated markets are made ava-ilable to Reuters, Bloomberg, SIX Telekurs,

PAP, BM Raiffeisen Polska, Onet, Interia, Wirtualna Polska, Presspublica and Notoria Serwis.

Catalyst information is publicly accessible from www.gpwcatalyst.pl, a WSE-operated website.

Mandatory Disclosures for Catalyst Issuers

All Catalyst issuers are subject to manda-tory disclosures. The scope of disclosures varies depending on the issuer status and the status of the market where the issuer’s instruments are listed. The least stringent disclosure requirements are imposed on is-suers who have decided to obtain only an authorization for their issues.

Current and periodic submissions for issu-ers of instruments admitted to alternative trading systems are regulated by: Annex 4 to the WSE ATS Rules, and Annex 3 to the BondSpot ATS Rules.

Under mandatory disclosures local govern-ments are required to submit current upda-tes and periodic information, i.e. a budget performance report accompanied by an opi-nion from a regional audit board, whereas other issuers are required to submit current updates as well as semi-annual and annual reports. Catalyst issuers whose shares have been brought to alternative trading on New-Connect or admitted to trading on a regu-lated market, must comply with disclosure requirements stipulated in regulations of the respective markets.

355

Fact Book 2013

List of Catalyst Issuers (end of 2012)

Issuers of municipal bonds

Brzesko www.brzesko.pl

Chełm www.chelm.pl

Konopiska www.konopiska.pl

Kórnik www.kornik.pl

Oświęcim www.um.oswiecim.pl

Połczyn Zdrój www.polczyn-zdroj.pl

Powiat jarosławski www.starostwo.jarosław.pl

Radlin www.radlin.pl

Rybnik www.rybnik.pl

Tczew www.tczew.pl

Turek www.miastoturek.pl

Ustronie Morskie www.ustronie-morskie.pl

Warszawa www.um.warszawa.pl

Wodzisław Śląski www.wodzislaw-slaski.pl

Zamość www.zamosc.um.gov.pl

Ząbki www.zabki.pl

Issuers of corporate bonds

Admiral Boats www.admiral-boats.com

AOW Faktoring www.aow.com.pl

ARCHICOM www.archicom.pl

Bank Gospodarstwa Krajo-wego www.bgk.com.pl

Bank Ochrony Środowiska S.A. www.bosbank.pl

Bank Pocztowy S.A. www.pocztowy.pl

BBI Development NFI www.bbidevelopment.pl

BBI Zeneris NFI S.A. www.bbizeneris.pl

BEST S.A. www.best.com.pl

BEST II NS FIZ www.tfibest.com.pl

BEST III NS FIZ www.tfibest.com.pl

BLACK Lion NFI S.A. www.blacklion.com.pl

BUDOSTAL-5 S.A. www.budostal5.com.pl

CDRL S.A. www.cdrl.pl

Electus S.A. www.electus.pl

Erbud S.A. www.erbud.pl

Europejski Fundusz Hipo-teczny www.efh.com.pl

Europejski Bank Inwesty-cyjny www.eib.org

FAST FINANCE S.A. www.fastfinance.pl

FERRATUM CAPITAL PO-LAND S.A.

FERRO S.A. www.ferro.pl

GANT Development www.gant.pl

Getin Noble Bank S.A. www.getinnoblebank.pl

Ghelamco Invest www.ghelamco.be

IIF S.A. www.iif.pl

IPF INVESTMENT POLSKA www.ipf.org.uk

Kredyt Inkaso S.A. www.kredytinkaso.pl

KRUK S.A. www.kruksa.pl

LC Corp S.A. www.lcc.pl

MAK DOM www.makdom.pl

MARVIPOL S.A. www.marvipol.pl

MCI Management www.mci.pl

Mera S.A. www.mera.pl

356

CATALYST

MEW S.A. www.mew.pl

Mo-BRUK S.A. www.mobruk.pl

Multimedia Polska S.A. www.multimedia.pl

NAVI GROUP S.A. www.navi-group.sa

NFI Magna Polonia S.A. www.magnapolonia.com.pl

ORGANIKA www.organika.pl

ORZEŁ S.A. www.orzelsa.com; www.salon-opon.com

OSHEE POLSKA www.oshee.eu

PCC Rokita S.A. www.pcc.rokita.pl

PCZ S.A. www.pczsa.pl

PKO Finance AB www.

POLKOMTEL FINANCE AB (PUBL) www.polkomtel.com

POLSPORT GROUP www.pol-sport.com

Pragma Factoring S.A. www.pragmafactoring.pl

PRAGMA INKASO S.A. www.pragmainkaso.pl

PRIME CAR MANAGE-MENT www.masterlease.pl

RANK PROGRESS S.A. www.rankprogress.pl

REMEDIS www.remedis.eu

ROBYG www.robyg.pl

RODAN SYSTEMS S.P. www.rodan.pl

RUBICON PARTNERS NFI www.ronson.pl

RONSON EUROPE www.rubiconpartners.pl

Scan Development www.scandevelopment.pl

SCO-PAK S.A. www.scopak.com.pl

Siódemka www.siodemka.com

SOLVECO www.solveco.pl

TRAKCJA-Tiltra S.A. www.trakcja.com

Trust S.A. www.trust.pl

VEDIA S.A. www.vedia.pl

Warimpex Finanz- und Beteiligungs AG www.warimpex.at

Widok Energia S.A. www.widokenergia.pl

Widok Energia Sp. z o.o. www.widokenergia.pl

WIKANA S.A. www.wikana.pl

ZPS KRZĘTLE www.krzetle.pl

Issuers of co-operative bonds

BPS Warszawa www.bankbps.pl

BS-SK Bank Wołomin www.sbrzr.pl

BS Biała Rawska www.bsbr.pl

BS Limanowa www.bs.limanowa.pl

BS Ostrów Mazowiecka www.bsostowmaz.pl

BS Piaseczno www.bspiaseczno.pl

BS Płońsk www.bsplonsk.pl

BS Skierniewice www.bsskierniewice.pl

BS-BBS Darłowo www.bbsdarlowo.pl

BS-ESBANK www.esbank.pl

BS-GBS BANK BARLINEK www.gbsbank.pl

BS-HEXABANK www.hexabank.pl

BS-KBS Kraków www.kbsbank.com.pl

BS-MBS Łomianki www.mbsbank.pl

BS-OK BANK Knurów www.okbank.pl

BS-PBS Ciechanów www.pbsciechanow.pl

BS-PBS Sanok www.pbsbank.pl

BS-PMBS Zabłudów www.pmbank.pl

BS-SBR Szepietowo www.sbrbank.pl

BS-WBS BANK WARSZA-WA www.bank-wbs.pl

Issuers of mortgage bonds

PEKAO Bank Hipoteczny www.pekaobh.pl

BRE Bank Hipoteczny www.rhb.com.pl

Issuers of public mortga-ge bonds

BRE Bank Hipoteczny www.brehipoteczny.pl

Issuers of treasury bonds

Ministerstwo Skarbu Pań-stwa www.msp.gov.pl

357

W S E E n e r g y M a r k e t

POEE

In 2012 the WSE Energy Market (WSE EM) enabled trading in electricity on the Daily--Hourly Electricity Market (WSE ELM) and trading in energy-related derivative pro-ducts on the Electricity Futures Market (WSE ELFM).

The WSE ELM offered an opportunity to effect ongoing purchase and sale of electri-city with execution within a short, four-day timeframe. The main driver was the single price system (SPS) combined with a conti-nuous trading system. Participants were of-fered a broad range of products within each trading system, comprising standard hourly products as well as standard block products such as peak and base.

The WSE ELFM enabled transactions in standard energy futures for periods such as weeks, quarters, months and years in hourly blocks such as base, peak and off--peak, under the continuous trading system, auctions organised by the WSE or upon a participant’s request. Settlement of WSE ELFM transactions could be effected not only with a pre-defined price limit but also at prices set daily on the basis of poDeeK in-dices generated on WSE ELM or prices set during the morning trading within the SPS on WSE ELM.

The settlement and clearing of WSE EM tran-sactions was effected by the Exchange Cle-aring House of the National Depositary for Securities. The WSE Energy Market was a place where transactions could be conduc-ted by all categories of energy market par-ticipants, i.e. producers, trading companies and end users.

Turnover on the WSE Energy Market in 2012

In 2012 the turnover on each of the energy markets reached the following figures: WSE ELM – 2,216,660 MWh, WSE ELFM – 5,204,784 MWh.

The turnover values for each month of the year are given on the chart below.

WSE Energy Market in 2012

*As of 1 April 2013, the WSE will discontinue to organise trading in commodities, and this function will be transferred to the TGE (Polish Power Exchange), part of the WSE Group.

359

Fact Book 2013

Turnover volume on WSE ELM and WSE ELFM in 2012 (MWh)Wolumen obrotów na REK GPW i RTE GPW w 2012 r.

0

1 000 000

2 000 000

3 000 000

4 000 000

5 000 000

1 2 3 4 5 6 7 8 9 10 11 12

ELFM

ELM

Market Participants

At the end of December 2012, a total of 30 organisations, including two brokerage hou-ses, were authorised to operate on the WSE Energy Market. Additionally, 16 other orga-nisations were active on that new market via brokerage houses.

List of WSE Energy Market participants, as of 31 December 2012:

1. Alpiq Energy SE2. Dom Maklerski BOŚ S.A.3. EDF Energia Sp. z o.o.4. EDF TRADING LIMITED5. ELEKTRIM - VOLT S.A.6. Elektrownia Pątnów II Sp. z o.o.7. Elektrownia Połaniec S.A.

– Grupa GDF SUEZ Energia Polska8. ENEA Trading Sp. z o. o.9. ENEA Wytwarzanie S.A.10. Energa-Obrót S.A.11. EXEN s.r.o.12. Ezpada s.r.o.13. FITEN S.A.

14. Ideon S.A.15. Inter Energia S.A.16. KOPEX S.A.17. MEM METRO Group Energy

Production& Management Sp. z o.o.18. Mercuria Energy Trading Sp. z o.o.19. NOBLE Securities S.A.20. PGE GiEK SA - Oddział Elektrownia Opole 21. PGE Górnictwo i Energetyka

Konwencjonalna S.A.22. PGE Polska Grupa Energetyczna S.A.23. PKP Energetyka S.A.24. Polska Energia - Pierwsza Kompania

Handlowa Sp. z o.o.25. RWE Polska S.A.26. Slovenske Elektrarne a.s. S.A.

Oddział w Polsce27. TAURON Polska Energia S.A.28. Vattenfall Energy Trading Sp. z o.o.29. Zespół Elektrowni Pątnów-Adamów-Konin

S.A.30. ZOMAR S.A.

360


The History of the Warsaw Stock Exchange 1991-2012The first stock exchange in Poland was ope-ned in Warsaw on 12 May 1817 under the name of the ‘Mercantile Exchange’. The first trading session took place on 16 May 1817. Sessions were held between noon and 1:00 p.m. In the 19th century, the Exchan-ge traded primarily in bills of exchange and bonds. Equity trading grew in importance in the second half of the 19th century.

In the twenty years between the two World Wars, exchanges in Poland operated under a presidential executive order concerning the organisation of exchanges.

Apart from Warsaw, stock exchanges also operated in Katowice, Kraków, Lviv, Łódź, Poznań and Vilnius.

Paradoxically, the interruption in exchange operations in Warsaw as a result of World War II and then the transition to the com-munist economic system enabled Poland to create a modern stock exchange which leve-rages best practices and state-of-the-art so-lutions of developed European exchanges.

1990 16 October Poland and France signed a co-operation agree-ment to open a securities exchange in Warsaw

1991 12 April Foundation Act for Giełda Papierów Wartościowych w Warszawie SA (The Warsaw Stock Exchange Company) signed 16 April First trading session; listed companies: Tonsil, Próchnik, Krosno, Kable and Exbud; trading sessions held once a week 16 July Additional specialist’s offer (post-auction trad-ing) introduced 1 August Computerised settlement system introduced

3 September First issue of the Ceduła, the WSE’s official daily bulletin 3 December WSE accepted as a correspondent member of the World Federation of Exchanges (formerly FIBV)

1992 9 January Second weekly trading session introduced 28 January First exchange terminals installed at WSE mem-bers’ offices 23 April First trading session supported by an IBM AS/400-based system 15 June T-bonds first quoted under continuous trading system 1 September T-bonds first quoted under single-price trading system

1993 4 January Third weekly trading session introduced 22 April WSE parallel market launched 1 May Settlement cycle changed from T+5 to T+3 9 June First share split performed 5 July Post-auction trading computerized; order place-ment via Exchange terminals enabled 15 July First dissemination of trading results via Tele-text

1994 10 February First quotation of pre-emptive rights associated with listed shares 1 March First allocation of new shares via public sub-scription 16 April WIG20 price index introduced

361

Fact Book 2013

1 July Fourth weekly trading session introduced 3 October Fifth weekly trading session introduced 10 October WSE accepted as member of World Federation of Exchanges (WFE)7 November The National Depository for Securities estab-lished as a separate entity

1995 3 January WIRR (parallel market index) introduced 25 January First meeting of Coordinating Committee for the New Trading System 20 April Continuous trading first supported with IBM AS/400 and Exchange terminals 17 May First public invitation to sell WSE-listed shares 18 December Crossing phase introduced to post-auction trad-ing

1996 6 May WSE’s capitalisation reaches PLN 20 billion 8 July Shares of first five companies introduced to continuous trading 15 July NIF (National Investment Funds) certificates in-troduced to single-price auction system 12 August NIF certificates introduced to continuous trading 1 October Commercial real-time WSE data distribution system launched 20 December Invitations to tender for supply of new trading system sent out

1997 3 February WIG20 index first published during continuous trading; 1,000th trading session on the WSE 20 February First company (Elpo) listed on free market 21 May 100th company listed on WSE May Number of investment accounts exceed 1 million 12 June First quotation of shares in fifteen National In-vestment Funds (NIF)

10 July Market capitalisation reaches PLN 40 billion

1998 16 January Derivatives market launched, WIG20 futures in-troduced 9 March First warrants introduced to trading 4 August First quotation of rights to shares (BRE shares) 15 September WSE accepted as an affiliate member of IOSCO (International Organization of Securities Com-missions) 21 September Values of MIDWIG (mid-cap index) first pub-lished 25 September USD futures introduced to trading 28 December Last quotation of NIF certificates

1999 26 March WSE sectoral subindices first announced May First ‘Exchange Schools’ for novice investors launched (organised by the WSE) 31 May EUR futures introduced to trading 4 June WSE becomes associate member of FESE (Fed-eration of European Securities Exchanges)11 June WSE’s capitalisation exceeds PLN 100 billionJuly WSE signed two memoranda of understanding (on cooperation and information exchange): with the London Stock Exchange (12 July) and the Paris Bourse (16 July)

2000 February Real-time WSE data first available via vendors online 5 April Corporate bonds first quoted on the WSE (is-suer: Clif SA) 28 April Innovative Technologies Segment (Si-Tech) es-tablished 19 May TechWIG index introduced for the WSE SiTech 25 May First investment certificates introduced to trad-ing

362


8 June New WSE headquarters (Exchange Centre) of-ficially opened 1 August TechWIG futures introduced to trading 17 November New Warsaw Stock Exchange Trading System (WARSET) introduced

2001 22 January First equity futures introduced to trading on shares of TPSA, ELEKTRIM, PKN ORLEN 7 February 2000th trading session on the WSE 9 August Memorandum of Co-operation signed between the WSE and the National Stock Exchange of Lithuania 22 October Futures based on shares of another five com-panies introduced to trading: AGORA, KGHM, PEKAO, BRE and PROKOM 26 November Index participation units based on the WIG20 index (MiniWIG20) introduced to trading

2002 8 February WSE signed cross-membership and cross-ac-cess agreement with Euronext 18 February MIDWIG futures first quoted on the WSE 25 April Convertible bonds (company: ComArch) first quoted on the WSE September The WSE’s Supervisory Board and Manage-ment Board adopted resolutions on introducing Best Practices in Public Companies (Corporate Governance)

2003 1 September Post-auction trading phase introduced at the end of continuous trading 22 September WIG20 options introduced 14 October First foreign issuer debut on the WSE: Bank Austria Creditanstalt AG 22 December WIG-PL (domestic companies index) first pub-lished

2004 1 May New division of WSE markets: the main (regu-lated official) market and parallel (regulated un-official) market 3 June WSE accepted as a full member of FESE (Fed-eration of European Securities Exchanges) 15 December Best Practices in Public Companies 2005 adopt-ed by the WSE’s Supervisory Board and Man-agement Board

2005 14 February T-bonds futures introduced to trading 11 July First remote member of the WSE starts opera-tions (Fischer Partners Fondkommission AB)17 October Share options for shares of five companies in-troduced 25 November Shareholders Forum – first forum for individual investors

2006 23 February Dynamic price ranges introduced as an addi-tional mechanism to curb price variations 17 August First company from Eastern markets debuted on the WSE: Astarta Holding N.V. from Ukraine 1 September New ticks introduced 25 August Structured products introduced to trading (is-suer: Deutsche Bank AG London) 16 October Block trades in derivatives enabled 25 October WSE welcomed the debut of CEZ, the largest company in Central and Eastern Europe (as of debut day)15 November Contract with the first WSE IPO Partner signed: E-volution Capital, a brokerage house from Kiev, Ukraine

2007 18–19 January The first edition of the Central & Eastern Eu-ropean Market Forum took place. This event is intended for investors, companies and other institutions associated with the stock market. Meetings with specialists and com-panies as well as public debates with Polish

363

Fact Book 2013

and foreign experts are organised within the CEE Forum 5 February All sectoral subindices were denominated at a 10:1 ratio 16 March New rules for computing and qualifying com-panies to indices came into force. The previous MIDWIG index was replaced by the mWIG40, and the WIRR superseded by the sWIG80. The portfolios of the WIG20, the mWIG40 and the sWIG80 are defined on the basis of a single ranking list of companies based on trading vol-ume in the past 12 months and market value 1 April Segmentation of listed companies was modi-fied and three segments of equities were in-troduced: 5 PLUS, 50 PLUS and 250 PLUS. The segment labelled 5 PLUS includes shares in companies with a capitalisation of under EUR 50 million; 50 PLUS covers companies with a capitalisation between EUR 50 and 250 million whereas capitalisation of over EUR 250 million puts companies into the segment called 250 PLUS 9 May A new online service, designed by the WSE and the Polish Press Agency, was launched at ww.WSEInfoSpace.eu. It is a business news site with information on Polish and foreign compa-nies listed on the WSE, providing news from markets in Central and Eastern Europe. The site is fully accessible to the public and free of charge, with information available in two lan-guage versions (Polish and English).30 August NewConnect, a new market, organised and op-erated by the WSE, was launched. NewConnect is designed to finance start-ups and new com-panies with a high growth potential. Among the first companies to have made their debuts on this market (on the first day of trading) were: Digital Avenue, S4E, ViaGuara, Virtual Vision and Wrocławski Dom Maklerski. New-Connect has the status of an organised market but is operated by the WSE outside the regu-lated market, as an alternative trading system.12 October The Warsaw Stock Exchange became a share-holder of the Sibiu Monetary Financial and Commodities Exchange, Sibex (Monetar Fi-nanciara si de Marfuri; Sibiu, Romania). As a result of the WSE’s contribution to the capital increase, the Management Board of Sibex allo-cated shares to the WSE representing 1.8% of Sibex share capital

17 December A site devoted to foreign companies listed on the WSE was launched at www.wseinterna-tional.eu. The aim of the site is to give investors a better picture of foreign companies listed on the Warsaw bourse. The site is intended for all domestic and foreign investors, both individual and professional. Data and news are available in two languages (Polish and English).20 December UniCredit, an Italian company and the largest bank in Central and Eastern Europe, made its debut on the WSE, becoming the largest com-pany listed on the Warsaw bourse 21 December Highest equity trading value per session (PLN 4.14 billion) in WSE history

200814 May The WSE launched two new segments: MINUS 5 and ALERT LIST. The former includes shares of companies with capitalisation up to EUR 5 million whereas ALERT LIST is designed for companies whose share prices are highly vola-tile or which are under bankruptcy proceedings25 June Representative office of the WSE opens in Kiev, the capital city of Ukraine. The office serves as an information centre for prospective issuers and investors from Ukraine interested in ei-ther raising or investing capital on the Warsaw bourse10 July WSE finalises its purchase of a 25% stake in the Ukrainian exchange INNEXJuly The Liquidity Support Programme is launched. The programme is designed for companies which, based on WSE-defined criteria, achieve low liquidity ratios1 September Organisation of trading sessions is changed. Starting from this date, trading sessions on the cash market (continuous trading system) begin at 9:00 a.m. and sessions on the derivatives market start at 8:30 a.m.

20095 JanuaryCompanies are offered the opportunity to sub-mit their current reports during a trading session, which means that the ‘session silence’ require-ment is abolished for companies listed under the continuous trading system, currently operated be-tween 8:30 and 16:30

364


FebruaryThe WSE sets up a Bond Market Development Committee with a mission to support the crea-tion and development of an organised market for debt instruments23 FebruaryCo-operation Memorandum signed with the Be-larusian Currency and Stock Exchange. The aim of the Memorandum is to create a market senti-ment conducive to investments and to support collaboration between financial markets of the two countries 10 March Information on concentrated positions in fu-tures first published 4 May The WSE launches two new indices: WIG-20short and WIG20lev.11 September The WSE becomes a majority shareholder in MTS-CeTO (currently: BondSpot SA), taking up an additional 61.31% stake. WSE’s total share-holding is 92.47%.30 September The WSE launches Catalyst, the market for debt instruments, co-organised by the WSE and BondSpot. Catalyst is the first organised mar-ket in Poland designed for corporate, municipal, mortgage bonds and other debt instruments.3 NovemberNew share issue of PKO BP, worth PLN 5.1 bil-lion, is launched6 NovemberPGE introduces its shares, worth PLN 6 billion, marking the second largest market debut ever on the WSE and the largest floatation in 200919 NovemberThe RESPECT Ranking is announced and the RESPECT Index is first published. The WSE and its external partners initiated a study on social responsibility of listed companies in order to enhance social responsibility and promote the idea among listed companies. As a result, the first index of socially responsible companies was developed (RESPECT Index).

201011 JanuaryBondSpot-operated ATS launched on Catalyst, allowing the market to reach its target architec-ture 25 FebruaryWSE designated as a ‘Recognised Stock Ex-change’ by HM Revenue & Customs (UK)16 MarchNewConnect Lead (NCLead) segment launched on NewConnect

12 MayIPO of PZU SA – the largest IPO in the history of the WSE1 July WSE enables short selling under new rules, thus considerably improving the appeal of the market by boosting its efficiency12 July Strategic partnership of NYSE Euronext and WSE announced; under the agreement the WSE is expected to launch a new transaction system with improved efficiency and extended functionalities20 SeptemberLife Science index first published on NewCon-nect; the index covers companies from the broadly defined health care sector22 SeptemberThe first ETF launched in the WSE; WIG20 ETFs are issued by LYXOR Asset Management9 NovemberWSE’s own IPO on its trading floor, marking a milestone in its history; the IPO attracted enor-mous interest, with over 323,000 individual in-vestors subscribing to its shares, and multiple oversubscription among institutional investors11 Decemberpoee, the WSE Energy Market, launched; the market offers opportunities for energy trading on its Daily-Hourly Market and for transactions with a longer time horizon on the futures mar-ket.

20113 JanuaryStarting from 2011 a new session schedule was launched, whereby exchange sessions start at 8:30 a.m. (futures market) and at 9:00 a.m. (spot market), and end at 5:30 p.m., i.e. one hour later than before.3 JanuaryThe WSE commenced calculation of WIG-div, an index comprising up to 30 compa-nies from WIG20, mWIG40, sWIG80 with the highest dividend yields. WIGdiv constituents must also pay dividends regularly (at least 3 times within the last 5 accounting years). WIGdiv is a total return index.16 FebruaryTreasury BondSpot Poland (TBSP), a Treas-ury bond index was launched. Starting from this date, this index has been published, among others, on the WSE and BondSpot websites. TBSP is the first official index for Treasury bonds in Poland.

365

Fact Book 2013

28 FebruaryWIG-Basic Materials Index, a sectoral subin-dex, was launched.18 MarchKernel Holding became the first Ukrainian is-suer to be included in WIG20, the WSE blue chip index.16 AprilThe WSE celebrated its 20th anniversary. As part of the celebrations, conferences were held and an Open Doors Day was organised, attract-ing a record number of 10,000 participants.4 MayThe WSE started calculating and publishing a national index WIG-Ukraine. This is the first and only index outside Ukraine which comprises only companies from that coun-try. WIG-Ukraine is the second national index calculated by the WSE, after WIG-Poland, an index of Polish companies, published since December 2003.31 May LYXOR ETF DAX and LYXOR ETF S&P500, issued by Multi Units Luxemburg, held their debuts on the WSE Main List.6 JulyJastrzębska Spółka Węglowa held its IPO on the WSE. This is the largest share issue conducted by the Treasury in 2011, and the fourth largest IPO in the history of the WSE and the fourth largest offering after 3 quar-ters of 2011 across Europe. The value of the IPO was PLN 5.37 billion. Approx. 170,000 Poles subscribed to JSW shares.21 July Warrants and new series of structured cer-tificates issued by Raiffeisen Centrobank AG made their first appearance on the WSE. In total, 117 new financial instruments were added within one day, including 90 option-based warrants and 27 structured certificates (bonus and discount-based).30 August The 4th anniversary of NewConnect, coincid-ing with the IPO of the 300th company on this alternative equities market operated by the WSE.30 September Two years since the launch of Catalyst. Af-ter those two years, Catalyst had 185 series of municipal, corporate and co-operative bonds in listing, worth PLN 35 billion. Debt securities were launched on this market by 90 issuers from Poland and other countries.

19 OctoberThe WSE Board adopted a uniform text of the WSE Statutes and consented to the pur-chase of shares in Towarowa Giełda Energii SA (energy exchange) and adopted amend-ments to Best Practices of WSE Companies’2 November Stock futures for four more companies were added to the WSE portfolio.8 November The contract for the purchase of shares in To-warowa Giełda Energii SA was signed.22 November Catalyst welcomed the first bonds denomi-nated in foreign currency: eurobonds issued by PKO Bank Polski.28 November The first stock futures for a foreign company, Kernel Holding, were launched. In total, eight-een stock futures are traded on the WSE.28 November The WSE Main List welcomed the first com-pany from Bulgaria, SOPHARMA AD.1 December The WSE started calculating WIGPlus, an in-dex which reflects the market sentiment in the smallest companies on the WSE Main List.6 December A resolution was adopted to organise a WSE bonds issue, the issuing process was com-menced and the prospectus was submitted.15 December TURBO Certificates were launched as an innovative financial instrument in Poland: leveraged knock-out (barrier) certificates. Those instruments were issued by Raiffeisen Centrobank AG. A total of 31 series of those leveraged certificated were introduced to trading, based on prices of 10 WSE-listed in-struments.

20124 JanuaryThe WSE launches its series I bonds with a nominal value of PLN 170 million for trading on Catalyst.20 February The WSE’s series II bonds, sold in a tranche for individual investors, are first traded on Catalyst; the value of series II bonds is PLN 75 million.24 February The WSE takes over a controlling stake in

366


TGE (Polish Power Exchange) worth nearly PLN 180 million.2 April The WSE enables transactions made under cross orders.1 May The WSE launches changes in its standard for currency futures (USD, EUR and CHF).21 May The WSE announces important amen-dments to the Rules of the Alternative Trading System and launches a new seg-mentation for NewConnect.24 May NYSE Technologies and the WSE announce their partnership with regard to selling mar-ket data.30 MayThe WSE starts to calculate and publish WIG-CEE, its first regional index.13 June The WSE website takes the first place in the 5th edition of the ‘Issuers’ Golden Website’ contest organised by the Issuers Association.26 June New regulations of NewConnect become effective as part of the NewConnect reform. 27 June The WSE announces the composition of new segments on NewConnect: High Liqui-dity Risk (HLR) and Super High Liquidity Risk (SHLR).12 July Equities from as many as 400 issuers are li-sted on NewConnect.27 August The WSE launches a mobile application for Apple iOS and Android users. 27 August The WSE, the Polish Power Grid (PSE) and the Polish Power Exchange (TGE) sign a col-laboration agreement.31 August The 5th edition of ‘NewConnect Convention /Catalyst Bond Congress’ is held.31 AugustThe 5th anniversary of the launch of New-Connect (413 companies listed, including 7 foreign ones; more than PLN 2.5 billion of capital raised).5 September The Polish Financial Supervision Authority approves the Rules of Gas Trading on the Polish Power Exchange and the Rules of Ex-

change Clearing House (commodities mar-ket) operated by the Settlement House for Commodities Exchanges.12 September The arrival of 237 structured products is-sued by Raiffeisen Centrobank AG.30 September Three years since the launch of Catalyst (147 issuers, more than 300 bond series).11 OctoberGAZ-SYSTEM SA signs a collaboration agreement with TGE, as an important step towards exchange gas trading.26 November The WSE amends its ‘Best Practices for WSE Listed Companies’.3 December The IPO of the 50th foreign company on the WSE.3 December The WSE starts to calculate and publish WIG20TR, an index which covers income from equities, in particular from dividends and pre-emptive rights. 14 December The IPO of Alior Bank on the WSE Main List. This IPO, worth nearly PLN 2.1 billion, is the largest private placement in the history of the WSE. 20 DecemberThe Gas Exchange begins its operations on the TGE trading floor.

367

Fact Book 2013

The Warsaw Stock Exchange is open Mon-day to Friday except on the following dates in 2013:

1 January (Tuesday) 29 March (Friday) 1 April (Monday) 16 April (Tuesday) 1 May (Wednesday) 3 May (Friday) 30 May (Thursday) 15 August (Thursday) 1 November (Friday) 11 November (Monday) 24 December (Tuesday) 25 December (Wednesday) 26 December (Thursday)

Exchange Holidays in 2013

368


Selected Capital Market Institutions

Izba Domów MaklerskichChamber of Brokerage Houseswww.idm.com.pl

Komisja Nadzoru Finansowego (KNF)Polish Financial Supervision Authority (PFSA)www.knf.gov.pl

Krajowy Depozyt Papierów WartościowychNational Depository for Securities (NDS)www.kdpw.pl

Narodowy Bank PolskiNational Bank of Polandwww.nbp.pl

Stowarzyszenie Inwestorów Indywidual-nychIndividual Investors’ Associationwww.sii.org.pl

Stowarzyszenie Emitentów GiełdowychIssuers Associationwww.seg.org.pl

Związek Maklerów i DoradcówPolish Association of Brokers and Investment Advisorswww.zmid.org.pl

Selected International Financial Institutions

World Federation of Exchanges (WFE)www.world-exchanges.org

Federation of European Securities Exchan-ges (FESE)www.fese.eu

International Organization of Securities Commissions (IOSCO)www.iosco.org

369

The Warsaw Stock Exchange(Giełda Papierów Wartościowych w Warszawie SA)Książęca 400-498 WarsawPoland

Secretariattel. (+48 22) 628 32 32fax (+48 22) 537 77 90

Marketing Communications Officetel. (+48 22) 537 79 57fax (+48 22) 625 67 48e-mail: [email protected]

Telephone inquiries for companiestel. (+48 22) 537 72 62 (+48 22) 537 72 14 (+48 22) 537 79 38

e-mail: [email protected]

Internet: Main Listwww.gpw.pl

NewConnectwww.newconnect.pl

Catalystwww.gpwcatalyst.pl

E-mail:Main [email protected]

[email protected]

[email protected]

ISS

N 1

42

8-1

17

1

2012 market indicators – main list · 2012 market indicators – main list domestic companies:...

Documents