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Poland: Warsaw Announces Next Phase Of Privatization

Warsaw, April 4, 1997 (RFE/RL)-- Poland's Stock Market Commission yesterday decided to allow shares issue by 15 National Investment Funds to be publicly traded.

RFE/RL's correspondent in Warsaw reports the shares of the investment fund shares will start trading at the stock exchange in mid-June. The NFIs have shares in 512 formerly state-owned companies. One third of shares in a given company is owned by one fund. The remainder is equally distributed among the other funds.

Some 26 million Poles--or 95 percent of those entitled--bought privatization certificates between November 1995 and November 1996. Our correpondent reports that Poles will most likely be allowed to exchange the certificates for shares in all the national investment funds as of mid-May.