Article Abstract:
The sale of Telekomunikacja Polska SA (TPSA), the Polish state-owned telecommunications service provider, will be the largest initial public offering ever undertaken in Poland. TPSA employees will receive 15% of shares free, while the remaining 65% of shares will be held by the State Treasury. Some 5% of the total will be used for the reprivatization reserve. The issue price will be between $4.07 and $5.38. TPSA is the sixth-largest Polish company in terms of sales and the largest in terms of net profits before tax.
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Article Abstract:
Retail investors have been offered 2.8 billion shares in Australian telecommunications utility Telstra. International institutional investors will have access to up to 1.2 billion shares in the company from Oct 27, 1997, but the international portion could be cut if there is strong domestic demand for shares. The share offer, which will represent 31.1% of Telstra, will raise at least $8.2 billion, with each retail investor paying an initial instalment of A$1.95.
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Article Abstract:
The Australian government is launching an initial public offering of its 33.3% stake in telephone company Telstra, which will receive a Stock Exchange listing in November 1997. It is expected that the sale will raise over A$10 billion. Some 65% of the shares will be offered to Australian institutions and the public, with 3.8% reserved for Telstra employees.
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