Public offering of 4.75 million ZAP shares closes today
Today is the last day that individual investors can register to buy shares
in nitrogen plant Zaklady Azotowe Pulawy (ZAP). The Treasury Ministry is
selling 4.75 million shares in the plant in a public sale. To make the offer
more attractive, investors have been promised a 6% discount, which means
they can expect to pay no more than zl.37.6 per share. The final price will
be decided tomorrow. Institutional investors will next week be able to
enroll for an issue of 2.7 million new ZAP shares. The capital raised
through the sale of the Treasury shares will go to support the state budget,
while the revenue from the new share issue has been earmarked by ZAP for a
series of investments. (Prawo i Gospodarka, p. 11; Gazeta Wyborcza, p. 26)
A.Z.
