9th June 2011
Thursday, May 17th, 2012
Treasury to sell 10 percent of PZU shares
The stake is valued at zł.3.3 billion
Courtesy of PZU |
Poland's Treasury is selling a 10-percent stake in PZU and is already in the process of accelerated book building, reports Bloomberg. The packet up for grabs has been valued at zł.3.3 billion.
A number of banks are involved in the book building, including Credit Suisse, Goldman Sachs, ING, JPMorgan Chase and UniCredit, reports Rzeczpospolita.
The book building is scheduled to close on Friday. Warsaw currently owns 45 percent of the insurance giant. Last week, shareholders passed an amendment to the company's constitution that allows only the Treasury to hold more than 10 percent of the shares in the company, but Warsaw officials say they don't plan to dump any more shares of the company this year.
From Warsaw Business Journal
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