PZU and CU emerge as the near dominant shareholders of PGNiG

Out of the 350 million shares designated for domestic institutional investors, PZU AM bought 50.5 million, which is 14% of PGNiG's capital. Jointly, the PZU group has purchased 84 million shares. This means that PZU's profits from PGNiG's IPO exceeded zł.86 million. The bad news is that this melted to less than half of this figure yesterday. "We do not comment on our investment decisions," said Tomasz Fill, PZU spokesperson. The second largest beneficiary of the IPO was Commercial Union (CU) which bought 65 million shares, and the Pioneer Group comes a poor third with 16 million shares. PGNiG shares were sold to a total of 61,461 investors. In the individual sale the subscription reduction topped over 96%. (Puls Biznesu, p. 11) A.K.