Locked content Griffin Premium confirms IPO price at PLN 5.7

Griffin Premium Real Estate has set the final issue price in its IPO at PLN 5.7, confirming earlier media reports. The maximum price set in the book building process was set at PLN 6.5. The company also announced how many shares will be floated. “The offering comprises issuance of 22,201,267 new sha...

Locked content Poland to cap investment fund management and redemption fees

Financial market regulator KNF said that the fixed management by investment fund houses (TFI) should be capped at 2 percent. “The management fee on open-end mutual funds and sub-funds should be capped at 2 percent of net assets under management and adjusted to the investment policy, profit and risk ...

Locked content Consultations on capital pension system reform will launch in Q2

Poland will send draft legislation on revamping of its capital pension savings system to consultations in Q2, the Social Dialogue Council wrote in a statement. “The complete set of bills implementing the changes, concerning both capital pension plans and changes to private pension funds OFE system, ...

Locked content Poland shuts its consulates in Ukraine after grenade attack

Poland has temporarily closed its consulates in Ukraine after a grenade attack on its diplomatic post in Lutsk. They will remain closed “until the expectations of Poland regarding the protection of diplomatic and consular missions in Ukraine have been fulfilled,” Polish deputy Foreign Minister Jan D...

Locked content Poland to play a smaller role in Eurocorps forces

Poland will not leave the pan-European military body Eurocorps, but will not seek the full membership, which it previously planned to become this year. Instead, Warsaw will remain an “associate-nation” and will limit the number of its soldiers in the force from the current 120. “We’ve decided ...

Locked content PGE sells Exatel to the Treasury

WSE-listed, state-controlled power utility PGE signed the deal to sell its telecom unit Exatel to the state Treasury for PLN 368.5 million, the company said in a market filing. Earlier, this month, PGE said that it hopes to sell Exatel by the end of Q2 this year. In May, last year, PGE and state-own...

Locked content PGG – KHW merger approved. Gets PLN 400 mln financing

The management board of Katowicki Holding Węglowy (KHW) approved the transfer of KHW assets to Polska Grupa Górnicza (PGG), clearing one of the final hurdles before the merger is finalized. The transaction is expected to be completed this week. Additionally, two state-controlled utilities, Energa an...

Locked content V4 leaders sign the Warsaw Declaration on innovation

The leaders of Visegrad Group members – Poland, Slovakia, Hungary and Czechia, signed the Warsaw Declaration on innovation in the CEE during the Innovation Summit held in Warsaw. “The declaration opens up a path to innovation, so that the CEE region can be competitive with the most innovative global...

YouTube CEO visits Poland. Gets Polish passport

Susan Wójcicki, CEO of YouTube, visited Poland and renewed her Polish passport. Wójcicki is the daughter of Polish-American physics professor Stanley Wójcicki, and granddaughter of Franciszek Wójcicki who was a Polish MP between 1947-52. Her grandmother Janina, moved to the US in 1949, while her the...

Locked content Tauron to spend PLN 1.8 bln on distribution this year

WSE-listed power utility Tauron plans to spend some PLN 1.8 billion on the distribution segment this year to increase efficiency and security of electricity deliveries, the company said. Back in March, company’s deputy CEO Marek Wadowski said that Taiuron will spend over PLN 4 billion on CAPEX...