Poland to raise PLN 2.4bn from sale of Energa stake
December 5, 2013
Poland’s third-biggest power producer Energa set its IPO price at PLN 17 per share and the final number of shares offered at 141,5 million, which makes the value of the offering at PLN 2.4 billion.
Poland’s treasury, which is selling 34.18% of the firm,
is satisfied with the results of Energa's book-building among institutional investors, which ended on Tuesday, the Treasury Ministry said in a press statement.
"It was a strong book-building with stable long-term investors," deputy Treasury Minister Pawel Tamborski said.
"Investors from five continents subscribed for Energa shares, including institutions new to our market, such as infrastructural funds and funds specialized in energy sector investments."
"Demand exceeded shares supply by several times in each of the three tranches," Tamborski added.
Energa's WSE debut is planned for December 11.