TF Silesia buys 38pct of Torpol on day of its WSE debut
July 9, 2014
Tomasz Sweklej, Torpol’s CEO
Corporate restructuring advisor TF Silesia acquired a 38% stake in rail infrastructure builder Torpol, which debuted on WSE on Tuesday, TF Silesia said in a press statement.
TF Silesia treats the acquisition "as a promising investment and a possibility of entering a dynamically growing market of construction, modernization and repair of rail tracks," the statement reads.
A few days ago TF Silesia said it had filed for antitrust watchdog UOKiK's consent to take over control of Torpol.
Torpol enjoyed a 6.9% increase in the price of share rights at the opening of its first WSE session on Tuesday. At 15:37 the rights were priced at PLN 8.2, up 2.5%.
In the IPO, Torpol owner Polimex had sold 15.57 million shares and Torpol sold 7.4 million new shares. The shares were priced at PLN 8 apiece.