Poland offers 65 million shares in PGE power via ABB
July 2, 2014
Poland's investment SPV PIR is selling 65 million shares in large-cap power utility PGE via accelerated bookbuilding, a market source told PAP POolish news agency.
The 65 million shares represent roughly 3.5% of the company. The stake is estimated at around PLN 1.3 billion.
Poland's Treasury controls 1.16 billion shares or a 61.89% stake in PGE, according to PGE's website.
Poland had vowed to transfer minority stakes in Treasury-controlled companies to state bank BGK and PIR in order to finance the "Polish Investments" program.