Minister on progress of PKO BP privatization

Deputy Treasury Minister Tadeusz Soroka has revealed that the issue prospectus of the largest domestic retail bank PKO BP will be ready in August and the following month it will be sent to the Securities and Stock Exchange Commission. He added that the Treasury Ministry hopes to complete the privatization process still this year in order to meet the budget revenues. It was also revealed that the shares will be primarily offered to private investors so that control over the company will remain in state hands. "We do not want to have any single shareholder with more than a 1% stake in the bank," said Soroka. Market analysts speculate that despite the limitation the issue will be popular, and the value of the 30% stake could reach up to zł.6 billion. (Parkiet, p. 5) A.K.