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Energy
Poland postpones PGNiG sale
Polish government has postponed planned privatization IPO of the Polish Oil and Gas Company (PGNiG) just hours after the country's biggest natural gas supplier published its IPO prospectus yesterday, citing unfavorable market conditions and 'political tensions surrounding the company'. Treasury Minister Jacek Socha said that PGNiG may go public later this year, possibly in early September.
PGNiG, one of Poland's top five corporations in terms of sales, said it would seek about 1.5 billion zloty selling 900 million new shares. The company has already decided to split the offering into three tranches of 270 million shares each, allocated to Polish retail investors, local pension funds and other institutions and...
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