Poland's Treasury Minister Mikołaj Budzanowski said that the ministry is not looking for a strategic investor for utility Energa at the moment. “It will not happen in 2013,” he said. The ministry's view is that an investor with Polish assets would be most suitable for the company. The minister however denied that state-owned natural gas distributor PGNiG could be the buyer.

Mr Budzanowski confirmed earlier announcements that Energa's IPO would take place in the first half of 2013. Up to 35 percent of the company's shares are to be traded in the offer. The Treasury has also said that a new share issue will be considered if Energa's investment needs are larger than expected.

Poland A.M.