Poland to sell stakes in PKP Cargo, Energa in coming months – minister
September 20, 2013
State power utility Energa may debut on the Warsaw Stock Exchange in November, most likely after the debut of state rail cargo operator PKP Cargo, deputy Treasury Minister Pawel Tamborski told reporters on Thursday.
PKP Cargo plans IPO of its freight transportation unit to raise funds for reducing its own debt, while the government will sell to the public a stake in Energa to help finance the budget deficit, Tamborski said.
"November is a realistic timing for Energa's stock market debut," Tamborski said.
Energa will most likely debut after PKP Cargo as the latter's IPO preparations are more advanced, the deputy minister said.
On Wednesday deputy Treasury Minister Zdzislaw Gawlik said that Energa's issue prospectus should be approved by financial market regulator KNF by October 15.
Poland’s Treasury owns 85% of shares in Energa.