Discounts available on PKN's second offering of shares
The reference price of oil company PKN Orlen (PKN) shares in the second
public offering has been set at
zl. 24.40 per share. The reference price is the maximum possible rate for
shares. The shares will go on sale this Friday, and if individual investors
subscribe before June 26 they will be able to buy the shares for zl. 22
each. They could pay even less if demand turns out to be low. The reference
price is based on the recommendations of the offer's global coordinators, CA
IB, Lehman Brothers and WBK. PKN's main shareholder Nafta Polska, acting for
the Treasury, will sell up to 30% of PKN's shares. The company's initial
public offering (IPO) was last fall with demand far exceeding the number of
shares on offer. (Puls Biznesu, page 11, Gazeta Wyborcza, page 28) T.J.
