Warsaw (Puls Biznesu)Â - Securities and exchange commission KPWiG asked PGNiG, Poland?s state-owned gas monopoly, whether it was going to update its issue prospectus. The reason? Politicians of former opposition parties which are to build the government after parliamentary elections held three weeks ago are against the IPO. Citizens? Platform (PO) and Law and Justice (PiS) have already said that they will nationalise the assets of gas transport companies.
The main issue here is EuRoPol Gaz, the company managing the Polish unit of the Yamal pipeline. PGNiG has 48 percent in the company, the same amount as Russian Gazprom. The remaining 4 percent belongs to Gas Trading, the company whose shareholder is Bartimpex owned by Aleksander Gudzowaty businessman. PiS believes also that the issue prospectus has many mistakes and unless they are corrected, the IPO will not be possible.
Only PGNiG?s new issued shares are traded. The company raised PLN 2.7 billion (EUR 692,6m) in the issue. Despite that, the state will keep control over the company.
(PLN 1 = EUR 0.256)