Poland/Enterprises/Banks/Privatisation
Warsaw (Puls Biznesu) – The issue price of the shares of PKO BP, Poland’s largest bank by deposits, will amount to PLN 20.5 (EUR 4.7), the upper level of the PLN 17.5-20.5 range. The majority of analysts expected it would be PLN 20.
The majority of individual investors will buy the stock with a 4-percent discount, i.e. PLN 19.7 a share. The forecasts for the IPO price amount to PLN 23. On Sunday, a special session on the stock exchange will be conducted. The PKO BP shares will be allocated to investors.
‘Additional privatisation inflow after increasing the PKO BP offer may result in reduction of the treasury bonds this year’, Miroslaw Gronicki, the Finance Minister said. Over PLN 50 billion of bonds were to be issued this year. The government assumed that the privatisation processes this year would bring PLN 8.8 billion. If the PKO BP offer is increased by 85 million shares, the state will earn PLN 10.5 billion this year.
(PLN 1 = EUR 0.232)