Poland raises PLN 5.2bn in PKO BP bank stake sale
January 25, 2013
Poland’s Treasury Ministry increased the number of shares of the country’s top lender PKO BP sold by special-purpose bank BGK and the Treasury via accelerated book-building on Wednesday to 153.1 mln, the Ministry said in a press statement.
"Faced with considerable interest in the offer, the Treasury decided to increase the offered stake by 6,250,000 shares of the company," the statement read. "In the end, the transaction pertained to the sale of 153,102,731 shares, including 25,000,000 shares of the Treasury."
Poland's Treasury and special-purpose bank BGK initially closed book-building for 146.85 million shares (11.75%) in bank PKO BP, with price set at PLN 34.25, the Treasury Ministry said on Wednesday.
Eventually, Poland sold a 12.25% stake in the bank, according to PAP calculations. The deal thus reached PLN 5.24 billion.
"Yesterday's offer of PKO BP of PLN 5.2 billion was the biggest such transaction in the history of the Polish capital market and the second biggest such deal in Europe this year," Treasury Minister Mikolaj Budzanowski said as cited in a press statement issued on Thursday.