7th July 2011
Thursday, May 17th, 2012
Azoty Tarñow offers z³.11.5 per share for Police
Bookbuilding began Wednesday for Azoty Tarnów's call for shares in Polish chemicals maker Police, reports Parkiet.
Azoty Tarnów, itself a producer of chemicals, is giving would-be investors until August 16, while offering z³.11.5 per share. According to Kamil Kliszcz, an analyst at BRE Bank, that is an attractive price.
On Wednesday Police's stock price fell 2.1 percent to z³.11.25. Its average stock price over the last six months is z³.12.
Azoty Tarnów's offer is for 66 percent of Police, but it will still gain control even if it gets 51 percent. The key decision will be made by the treasury, which owns 59 percent in Police.
From Warsaw Business Journal
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