15:38 6 October 2026
Largest developer in Poland may disappear from stock exchange
Lisala, an investment vehicle jointly owned by Hungary’s Wing and Griffin, plans to launch a tender offer for all remaining shares of Echo Investment. Lisala already controls 62.37% of the company and is offering PLN 5.20 per share, 4.4% below Friday’s closing price. The transaction would cost approximately PLN 807 mln, and its success will depend largely on pension funds, which hold significant stakes.
Echo, listed in Warsaw since 1996, develops residential, rental, office, and student-housing projects. In the first half of the year, it reported PLN 816.5 mln in revenue and PLN 20.7 mln in net profit.
The company also sold a major rental-housing portfolio for PLN 2.4 bln. Management plans to reduce debt and invest in new Warsaw office projects and residential developments.
(pb.pl)
