Italy's Unicredit has put 23.9 million shares -- a 9.1% stake worth around PLN 4 billion -- in listed bank Pekao up for sale in an accelerated book-building process.

Unicredit said it will retain at least 50.1% of Pekao shares and remains "fully committed to Pekao.”

It added: "UniCredit is not envisaging any sales of additional shares of Pekao following the completion of this placement."