Lotos ready to bloom on the WSE
Grupa Lotos SA, which has a 21 percent share of the fuel market, has received permission from the Polish Securities and Exchange Commission to debut on the stock market. The price range is to be published by May 15, and on May 16 the public offer will be opened. Individual investors may subscribe between May 16 and 30, and Institutional ones between May 31 and June 3.
According to the company, the first listing should be conducted in the first half of June.
The IPO will include 43.9 million shares, which will constitute 49 percent of the company's shares. The remaining 51 percent will be left with the Treasury and Nafta Polska SA, which is currently a 75 percent shareholder in Grupa Lotos SA.
Lotos hopes to raise zł.1-1.1 billion from the public offering.
According to the company, the first listing should be conducted in the first half of June.
The IPO will include 43.9 million shares, which will constitute 49 percent of the company's shares. The remaining 51 percent will be left with the Treasury and Nafta Polska SA, which is currently a 75 percent shareholder in Grupa Lotos SA.
Lotos hopes to raise zł.1-1.1 billion from the public offering.
