Poles ring up strong demand for phone IPO

Article Abstract:

Telekomunikacja Polska SA is receiving enthusiastic response from Polish investors regarding an initial public offering, despite the uproar that recently rocked emerging markets. The Polish government plans to sell 15% of the state-run phone company at prices ranging from 14.5 zlotys a share to 18 zlotys per share. Two-thirds of the 15% being offered for sale will be sold to international investors by means of global depositary receipts registered in London, UK. Meanwhile, 30% of the remaining one-third for sale will be offered to Polish institutional investors and 70% will be offered to domestic retail investors.

Comment:

Receives enthusiastic response for its IPO from Polish investors despite the uproar that recently rocked emerging markets

Wired Telecommunications Carriers, Telephone Communications, Telephone services, Telekomunikacja Polska SA

Poland to set offering price of Pekao today

Article Abstract:

Grupa Pekao SA's share price for its initial public offering (IPO) will be revealed on June 10, 1998 by the Polish government. The announcement of the share price comes after the government set a share price range which gave the bank a value of up to $1.8 billion. The bank, which is the largest bank in Poland, has attracted a lot of interest from investors despite significant uncertainties about it. The Polish government will float 15% of the bank's shares on the Warsaw Stock Exchange while it will later sell in 1998 an additional 35% to one or more strategic investors.

Comment:

The share price for its initial public offering will be revealed on 06/10/98 by the Polish government

Commercial Banks, Commercial Banking, Grupa Pekao SA

Poland gears up for privatization of petroleum firms

Article Abstract:

Poland is about to start privatizing its petroleum refining and distribution companies after years of delay. In the next several days, the Polish government will solicit bids to acquire a majority stake in Rafineria Gdanska SA, the smaller of Poland's two big petroleum corporations. The Polish government will give investors the option to acquire up to 200 fuel stations from Centrala Produktov Naftowych SA (CPN), the country's leading fuel-station chain with 1,400 stations, to lure investors to buy a stake of Gdanska.

Comment:

Poland: Govt is about to start privatizing its petroleum refining & distribution companies after years of delay

Government domestic functions, Petroleum, Petroleum and Coal Products Manufacturing