Aleksander Grad doubts Enea's IPO
The largest initial public offering this year on the WSE of power group Enea may be delayed further due to global market turmoil, Polish treasury minister said on Friday. The debut was planned to raise about zł.3 billion.
"It's this moment when new recommendations pop up every day: sell, do not sell," Treasury Minister Aleksander Grad told Gazeta Wyborcza. "I'm having doubts today whether to sell."
Grad is worried that potential investors are demanding too many price cuts and that's due to the current turmoil on the markets. However, he stressed that no decision has been made, but does not exclude that certain plans may need to be frozen.
"The key to privatizing Enea is reaching to the near East's investment funds," Grad said.
The
state-controlled group's privatization was postponed from July to the end of
October. Last week, Enea was cleared from administrative hurdles and given the
green light from the Polish financial and markets watchdog to go ahead with the
privatization. (AO)
Source: Gazeta Wyborcza
