Poland’s State Treasury has announced the successful completion of the accelerated book-building process for shares in the country’s largest power utility PGE. The Treasury generated PLN 121.5 million from the sale, while state-owned investment vehicle PIR got PLN 1,204 million.
PIR was selling 59,441,629 PGE shares and the Treasury was selling 6 million shares in the firm. The price was set at PLN 20.25 apiece.
The sale of shares by PIR, one of two operators of the Polish Investments program, was carried out in order to raise funds for conducting major infrastructure projects, the Treasury Ministry’s statement said.