PKO BP privatization opened up to smaller investors
The government decided to lower the upper limit for retail investors in the privatization deposit account from zł.50,0000 to zł.20,000. "Due to this 31,000 clients will be able to receive shares," said Treasury Minister Jacek Socha.
If the previous value had been preserved, the shares would have gone to only around 14,000 investors. The privatization deposit account allows the shares to be bought and sold without opening an account in a brokerage house.
Socha emphasized that an investor opening a deposit account will be allowed to present only one power of attorney to prevent large investors buying the reserved stock by proxy. Socha did not exclude the possibility of introducing further changes to the offer. And in fact just last Friday parliament decided that only Polish retail investors will be allowed in the offering.
Socha also stated that PKO BP shares will not be listed on any other stock exchange besides the WSE.(Poland A.M., September 22)
If the previous value had been preserved, the shares would have gone to only around 14,000 investors. The privatization deposit account allows the shares to be bought and sold without opening an account in a brokerage house.
Socha emphasized that an investor opening a deposit account will be allowed to present only one power of attorney to prevent large investors buying the reserved stock by proxy. Socha did not exclude the possibility of introducing further changes to the offer. And in fact just last Friday parliament decided that only Polish retail investors will be allowed in the offering.
Socha also stated that PKO BP shares will not be listed on any other stock exchange besides the WSE.(Poland A.M., September 22)
