EBRD reduces stake in BZ WBK

The European Bank for Reconstruction and Development has sold 467,725 shares, standing for a 0.47-percent stake, in Poland’s third largest lender BZ WBK in an accelerated book-building process, the EBRD said in a press release on Thursday. As a result, the EBRD has reduced its holding in BZ WBK by 50 percent. The deal “was completed at a very small discount to the closing price that day,” the statement said. “The sale attracted strong interest and demand from a broad mix of institutional investors both in Poland and internationally.”