EBRD sells its stake in PKP Cargo
14:43
The European Bank for Reconstruction and Development (EBRD) sold its stake in PKP Cargo. The 2.286 million shares representing 5.1 percent of PKP Cargo’s total shares, were sold in an accelerated book-building (ABB), the institution announced.
“The transaction was successfully completed at a small discount to the previous day’s closing price of PLN 89 on the Warsaw Stock Exchange and attracted strong interest from a mix of institutional investors both in Poland and internationally,” the press release stated.
The EBRD had bought a stake in PKP Cargo under the IPO in 2013.
“PKP Cargo has demonstrated its capacity to attract high quality local and international financial investors. The EBRD’s sale should benefit the local capital market by increasing the free float of PKP Cargo’s shares and is further testimony to Poland’s attractiveness to institutional investors,” said Grzegorz Zielinski, EBRD Country Director for Poland.
