Poland/Enterprises/Gas and Fuel/Stock exchange
Warsaw (Puls Biznesu) – On Wednesday, the Polish stock exchange GPW admitted the Hungarian fuel company MOL to be listed in Poland. Jan Kulczyk, PKN Orlen’s largest private shareholder who had sold part of his stake recently is buying the shares of the Hungarian rival. Does mean troubles for PKN Orlen? ‘When one shareholder sells his shares the fundamental value of the company is not weakened. When MOL is listed on GPW, more foreign investors should be lured to Poland’, Remigiusz Sopel, expert from IDM brokerage calmed down.
Also the management of PKN Orlen convinces that the company will be ok. ‘Economic results will encourage investors to invest in the shares of PKN Orlen’, Krzysztof Zyndul, the CEO of Nafta Polska and the member of the supervisory board of PKN Orlen assured. Remigiusz Sopel stressed that the entrance of MOL may be the first step to ‘operational co-operation of both companies’. ‘MOL’s capitalisation is higher than Orlen’s, because not all assets belonging to PKN Orlen are consolidated. PKN Orlen’s weakness is the lack of oil sources. MOL, which has such sources, may be more attractive’, Krzysztof Zyndul believes. In his opinion, the new strategy of the Polish fuel giant should give the answer to all doubts.