Partner to energize ENEA
Deputy Treasury Minister Dariusz Witkowski said the ministry had already held initial talks with power companies that might be interested in taking an additional stake when the ministry offers 30 percent of ENEA in an initial public offering (IPO).
ENEA's IPO prospectus should be filed with the Securities Commission in mid-March, and Witkowski said he hopes the offering, whose value ENEA has estimated at zł.1 billion, will be carried out in May.
"The size of the stake for a strategic investor is still being analyzed, but we think it should be at least 25 percent," Witkowski told a parliamentary committee, adding that the figure was based on preliminary talks with potential investors.
Witkowski also said the European Bank for Reconstruction and Development (EBRD) had expressed interest in participating in the sell-off as a financial investor.
"The offer's structure is still undecided, but we cannot rule out that the strategic investor will have a minimum of 25 percent, with the treasury and a stable financial investor like the EBRD holding onto a majority state," he said.
ENEA's CEO recently said the 30 percent stake to be listed on the bourse could be worth about zł.1 billion, or about 20 percent of the 2005 budget privatization revenue plans.
ENEA, a group of five western Polish distributors, is among the country's biggest power groups, with annual sales exceeding zł.4 billion in 2003. (Reuters)
ENEA's IPO prospectus should be filed with the Securities Commission in mid-March, and Witkowski said he hopes the offering, whose value ENEA has estimated at zł.1 billion, will be carried out in May.
"The size of the stake for a strategic investor is still being analyzed, but we think it should be at least 25 percent," Witkowski told a parliamentary committee, adding that the figure was based on preliminary talks with potential investors.
Witkowski also said the European Bank for Reconstruction and Development (EBRD) had expressed interest in participating in the sell-off as a financial investor.
"The offer's structure is still undecided, but we cannot rule out that the strategic investor will have a minimum of 25 percent, with the treasury and a stable financial investor like the EBRD holding onto a majority state," he said.
ENEA's CEO recently said the 30 percent stake to be listed on the bourse could be worth about zł.1 billion, or about 20 percent of the 2005 budget privatization revenue plans.
ENEA, a group of five western Polish distributors, is among the country's biggest power groups, with annual sales exceeding zł.4 billion in 2003. (Reuters)
