PGG to be listed on the WSE soon

Wojciech Dąbrowski, CEO of PGNiG Termika, said that works on PGG IPO will start “in the coming months.” He also added that he hopes PGNiG investment in the company will be a profitable one. “We hope to get our investment back after few years,” Dąbrowski explained. PGNiG capitalized the enlarged Polska Grupa Górnicza with PLN 300 million, after it took over the assets of the fledging miner Katowicki Holding Węglowy (KHW) and will acquire 20.43 percent stake in the new entity. Last week, the PGG-KHW has been finally approved by all sides, creating EU's largest coal producer. The company has been capitalized by a number of state-run utilities with PLN 1 billion in total.