Echo Investment owner considers halving its stake

The main shareholder of the WSE-listed developer Echo Investment, Lisala, is considering selling half of its 65.99 percent stake, the company said in a market filing. Lisala wants to sell the stake to an institutional investor, which won’t require preparing an offer document, the company added. Back in September Echo Investment announced that its main shareholder wants to increase the number of shares in the company by way of an offer addressed to institutional investors that do not require a tender document.