21st December 2009
Thursday, February 9th, 2012
Treasury tries to use PZU IPO as leverage on banks
The State Treasury has just concluded talks with nine shortlisted investment banks, from which it will choose coordinators of PZU's public offer.
The IPO is estimated at zł.5 billion and the debut of the largest insurance company in the region will also be one of the largest events on Warsaw Stock Exchange in 2010.
Apart from price criteria, the ministry also wants the banks to make a stronger appearance on the Polish market either by acquiring a remote membership in the bourse, opening a representative office in Poland, or more often analysis of companies listed on the WSE.
Some of the investment banks are active in Poland but only occasionally, and the ministry now hopes that the IPO of PZU might change this situation, which will boost liquidity on the bourse, as well as facilitate privatization of other state companies.
Source: Parkiet
From Warsaw Business Journal
Also check out:
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Insurer PZU fined zł.56.6 million for limiting competition
Poland raises zł.3.17 billion from sale of PZU stake
Treasury to sell 10 percent of PZU shares
PZU sees net profit drop
PZU to elect new president and board
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