Share sale could put Ciech's public offering on hold

Until last Friday a question mark hung over the public sale of the company's shares because as much as 20% of Ciech's shares are still in the hands of its subsidiaries and Polskie Towarzystwo Ubezpieczeniowe (PTU). On Friday, however, PTU's supervisory board agreed to sell part of the stock it controls. "The sale of the stake in Ciech that we possess lays in PTU's interest and will allow us to quickly improve the company's financial situation," said PTU president Gra yna Brocka. The supervisory board has agreed to sell 6.58% of Ciech's capital during the public offer-ing out of the 11.56% it owns. (Puls Biznesu, p. 5) A.K.