KPWiG rules PGNiG investors need more information

A KPWiG spokesperson, Łukasz Dajnowicz, added however, that the company will have a second chance to submit its application and KPWiG may discuss it as soon as this Thursday. The documentation that failed scrutiny was the confidential clause on the Jamalski contract. KPWiG argued that investors should have a right to know the details of it so that they can make conscious decisions about buying PGNiG stock. The state giant was striving to enter the bourse in June for fear that after the coming political elections the flotation could be halted altogether. PGNiG intends to raise zł.1.5 million in the public issue. Roughly 42% of this amount would to be spent searching for oil sources, and well-infrastructure, with the remaining funds being used to boost production capacity, investments in the infrastructure, and distribution networks. (Puls Biznesu pp.1,10, Parkiet p.3) M.G.