Enea to be first off energy IPO blocks after shares OK

Yesterday the Securities and Stock Exchange Commission (KPWiG) gave the go-ahead for the debut on the bourse of two large, state-controlled companies from the energy sector: Enea, which may become the first publicly listed power distributor in the country, and Kozienice, which in turn will be the first publicly listed power plant. In the future the two companies may join forces, as Enea is one of the bidders in the tender for Kozienice, to which the Treasury Ministry (MSP) wants to introduce a strategic investor. MSP is planning to offer nearly 27.7 million shares on the bourse, of which around 22.2 million will be a new issue. Enea is going to spend the money raised by the issue on the purchase of Kozienice or another power producer, which means that only 11.4% of the shares will be offered on the bourse. Another 13.6% will be taken over by the company's employees. (Puls Biznesu, p. 9) A.F.