Foreign investors take 20pct of PKP Cargo shares in IPO
October 28, 2013
Foreign investors purchased 20% of shares of rail freight carrier PKP Cargo offered in firm's IPO, CEO of PKP Cargo's parent PKP, Jakub Karnowski, told TVN CNBC broadcaster.
"Foreign investors received 20% of PKP Cargo shares on offer," Karnowski said.
Asked why no shares were allocated to metals processor Mennica Polska, which wanted to buy 10% of the rail carrier at PLN 70 per share, Karnowski said that PKP decided not to sell shares to industry investors.
In the IPO, PKP was offering up to 21,669,007 shares of PKP Cargo or 50% minus one share but in the end decided to sell up to 20,926,171 shares at PLN 68 apiece.
The company is expected to debut on the WSE on October 30.