PGNiG to earn over PLN 2 billion in IPO

APA - Austria Presse Agentur
01-09-2005, 21:26

Warsaw (Puls Biznesu) – Yesterday, PGNiG, Poland’s monopoly gas producer, announced its price range for shares to be sold in the upcoming IPO. The range was set at PLN 2.46-2.98 a shares. The gas company hopes to get PLN 2.2-2.7 billion (EUR 552.2-677.7m) selling 900m shares. Before, its management expected the IPO to bring PLN 1.5 billion. “PGNiG’s offer seems attractive.

Warsaw (Puls Biznesu) – Yesterday, PGNiG, Poland’s monopoly gas producer, announced its price range for shares to be sold in the upcoming IPO. The range was set at PLN 2.46-2.98 a shares. The gas company hopes to get PLN 2.2-2.7 billion (EUR 552.2-677.7m) selling 900m shares. Before, its management expected the IPO to bring PLN 1.5 billion. “PGNiG’s offer seems attractive. The evaluation is due to the fact that PGNiG has completed restructuring, that the market is thriving and gas prices are high”, Jacek Socha, the Minister of Treasury commented.

PGNiG needs capital for PLN 17 billion worth of investment projects. The company is going to invest both in Poland and abroad to ensure stabile gas prices and diversify delivery sources.

(PLN 1 = EUR 0.251)Poland/Enterprises/Gas and Oil/IPO

 

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Podpis: APA - Austria Presse Agentur

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