Shares in PKO Bank, the Polish retail bank, soared 16% in first day's trading today to become the third largest stock on the Warsaw exchange. It was already the largest polish flotation on record.

Credit Suisse First Boston and BGZ, the Polish bank, jointly led the deal, which raised 7.89bn zloty (€1.8bn) after the free float was increased from 30% to 38.5% last week.