Gremi shares on WSE on July 1

Shares of the Gremi Media group that are already traded on the Warsaw Stock Exchange will be put on sale on July 1, Grzegorz Hajdarowicz, the majority shareholder of Gremi Media, the publisher of dailies Rzeczpospolita and Parkiet, among others said on Friday. What is more, the new shares issued in exchange for a stake in Presspublica (acquired in 2011 by Hajdarowicz) will be on sale in October, he also said. "The issue will be held based on a memorandum which is practically ready," he added. Hajdarowicz will control 96 percent of the shares issued in exchange for the stake in Presspublica, after they enter the bourse. The businessman also intends to sell another 20 percent of the holding. "In the future, I am planning mergers with a few entities, which will cause my holding to shrink," he pointed out. "We will transfer all of the assets in kind to one of the listed firms. ... I would like to control, directly or indirectly, around 75 percent of a newly built media group. There is room for some minority financial shareholders, which will bolster the group through their brands," Hajdarowicz said in late April. As many as 70 entities have already been invited to the talks. Afterwards, between six and eight of them will be selected and eventually two will be chosen to become minority shareholders with nearly a 10 percent stake in the new group, he added at the time.