Ibex trims Pepco stake

Ibex, Pepco Group’s largest shareholder, has begun a gradual exit. In an accelerated bookbuilding, it sold roughly 8.5% of Pepco shares, upsizing the offer from 42 million to 49 million shares at PLN 27.75 apiece versus about PLN 30 on the market. Its stake fell to 63.5%. Analysts say Pepco had been trading at a discount on expectations that Ibex would monetize its holding