KNF extends BNP Paribas' request for its WSE free float increase
21:31
The Polish Financial Supervision Authority (KNF) has approved the extension for increasing WSE free float of French multinational bank BNP Paribas' unit - BGŻ BNP Paribas, financial watchdog informed on Tuesday.
According to it, BNP Paribas is now obliged to increase its free float to 12.5 percent plus one share by end-2018 (compared to the end-June 2016 term previously) 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 at May 2016), a financial services company with global headquarters in Paris. It has been listed on the WSE since 2011.
