KNF approves the extension of BNP Paribas WSE free float increase
21:52
The Polish Financial Supervision Authority (KNF) has approved the extension to increase WSE free float of French multinational bank BNP Paribas' unit - BGŻ BNP Paribas, the financial watchdog informed on Tuesday.
According to the KNF, BNP Paribas is now obliged to increase its free float to 12.5 percent plus one share by end-2018 (compared to the previous end-June 2016 term) and to 25 percent plus one share to end-2020 (versus by end-2018 before).
BGŻ Bank was established in 1975 and is currently owned by BNP Paribas Group (88.33 percent stake as of May 2016), a financial services company with global headquarters in Paris. It has been listed on the WSE since 2011.
