Anwil nitrogen producer is getting ready for listing on the Warsaw Stock Exchange. The company is not discouraged with the slump noted on the market in recent weeks.
“The IPO is planned at the beginning of next year”, Dawid Piekarz, the spokesman of PKN Orlen which owns 84.8 percent of the chemical company, said. Anwil is finalizing talks with its advisors. According to “PB” sources, DM Unicredit CA IB will offer the shares.
On August 31st, a GSM will be held to agree for the IPO. Before, supervisory boards of both PKN Orlen and Anwil must approve of the plans. “PKN Orlen’s supervisory boards meets on August 23rd. One of the points of discussion considers the IPO”, Dawid Piekarz said.
Anwil plans to sell 10-20m new shares of B series at PLN 1 (EUR 0.26) a share. Present shareholders, ie the state (5.56 percent) and Energa power group (4.15 percent) will not be offered the shares. New shares will constitute 6.9-12.9 percent of the capital.
Old shares of A series will probably also be sold on the stock exchange. Orlen wants to keep a 51 percent stake in the company. Kamil Kliszcz, DI BRE Bank analyst, estimates that Anwil is worth PLN 3-3.5 billion. The joint value of the IPO may exceed PLN 1.5 billion and constitute 45 percent of the capital.