NBP reserves grow in November

Poland’s Central Bank’s (NBP) reserves stood at €95.82 billion at end-November and were some €720 million higher than last month, according to the NBP’s official reserve data. Reserves denominated in USD have increased by $2.7 billion to $113.37 billion.

Locked content Soho Development plans to buyback 33 percent stake at PLN 3.27 apiece

WSE-listed developer Soho Development’s management board approved a preliminary plan to buy 33 percent of its shares at PLN 3.27 apiece, the company said in a market filing. The company added that the buyback is conditional on selling its Mińska 25 scheme in Warsaw. “The Management Board emphasizes ...

Locked content Tower Investments sets issue price. Moving to WSE

Listed on small-cap, alternative market developer Tower Investments set the price for its planned issue of 500k shares at PLN 45 apiece, the company said in a market filing. Retail investors will be offered 100k shares, while institutional ones will be able to buy 400k shares. The new issue will be ...

Locked content UOKiK greenlights Hortex takeover

Antitrust watchdog UOKiK has approved the takeover of the juice, drinks and frozen fruit and vegetable producer Hortex, by Seventeen Colza investment vehicle, which is a subsidy of private equity fund Mid Europa Partners. Along with Hortex, Mid Europa will also acquire its subsidy, Ortika, which UOK...

Locked content Poland ‘surprised’ by the Patriot pricetag – Kownacki

According to Deputy Defense Minister Bartosz Kownacki, the PLN 37 billion price tag for the Patriot missile defense system is unacceptable. “The high cost came as a surprise for us. The price is indeed unacceptable for us even in the view of the significant financial assets that we allocated for the...
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EU takes Poland to court over migration

The European Union is taking Poland, along with Hungary and Czechia to the European Court of Justice for failing to accommodate their fair share of refugees under an EU-wide relocation scheme.

Locked content Torpol with PLN 367.3 mln deal with Tauron

WSE-listed construction firm Torpol signed a PLN 367.3 million net contract for design, construction, and launch of a rail system for the new power block at Tauron’s Jaworzno plant, company said in a market filing. The new railway line will connect the 910 MW block with Tauron Wydobycie, which...

Tax-to-GDP ratio grows to 34.4% in Poland – Eurostat

The overall tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of GDP increased in Poland to 34.4 percent in 2016 from 33.3 percent in 2015 according to data released by Eurostat. Throughout the EU, the ratio stood at 40 percent, compared to 39.7 percent in 2015.

Locked content Kruk to issue up to PLN 500 mln bonds

WSE-listed debt collector Kruk will issue up to PLN 500 million worth of bonds in the next 12 months under a new bond issue program pending approval by the Financial Supervision Authority KNF. The bonds will be denominated in PLN or €, and their terms and value will depend on the market conditions&#...