Poland/Enterprises/Oil and Gas/IPO
Warsaw (Puls Biznesu) – Analysts believe that the listing of MOL, Hungarian fuel giant will not disturb the share price of Polish PKN Orlen. The IPO on the Warsaw stock exchange GPW may be conducted even this year. Investors will be offered around 5 percent of MOL’s shares worth PLN 1.05 billion (EUR 252.1 million). ‘In a short term, the new offer will cause decrease in PKN Orlen’s shares’ price but the growth trend of the Polish company is not endangered’, specialists focusing on fuel companies said.
Some investors may be withholding from buying PKN Orlen now, waiting for price fall after MOL’s listing. Today, the shares cost PLN 37.5, while some evaluations forecast PLN 40. ‘This seems very real within the upcoming weeks’, Sebastian Slomka, the analyst of PKO BP brokerage house said. The listing of MOL in Poland will increase the attractiveness of fuel sector. ‘I do not exclude that both, the Polish and the Hungarian companies will grow’, Wojciech Szymon Kowalski, an independent analyst said. The only bad news is that MOL will offer too few shares to become a member of the WIG20 index.
(PLN 1 = EUR 0.240)