Sharing the wealth
The ministry is selling 385 million shares in the financial giant, which represents a total of 38.5 percent of the bank's equity instead of the earlier proposed 30 percent. An additional 85 million shares have been earmarked for individual investors, who were earlier offered only 75 million shares.
Ultimately, domestic individual investors will receive 160 million shares in PKO BP (16.0 percent of capital), institutional domestic investors will be offered 132 million shares (10.4 percent), while foreign institutional investors will get 85 million (8.5 percent).
Following floatation on Wednesday (November 10) the State Treasury's stake in PKO BP will amount to 51.5 percent of the bank's equity. Estimates suggest the IPO will generate zł.7.7 to 8.0 billion, taking into account the 2 percent and 4 percent discounts offered in the subscription process.
A special session was due to be held at the stock exchange on Saturday (November 6) to give the individual investors their PKO BP share packets. Institutions that purchased shares will be given their packets on November 9 at the latest. A.L.
Ultimately, domestic individual investors will receive 160 million shares in PKO BP (16.0 percent of capital), institutional domestic investors will be offered 132 million shares (10.4 percent), while foreign institutional investors will get 85 million (8.5 percent).
Following floatation on Wednesday (November 10) the State Treasury's stake in PKO BP will amount to 51.5 percent of the bank's equity. Estimates suggest the IPO will generate zł.7.7 to 8.0 billion, taking into account the 2 percent and 4 percent discounts offered in the subscription process.
A special session was due to be held at the stock exchange on Saturday (November 6) to give the individual investors their PKO BP share packets. Institutions that purchased shares will be given their packets on November 9 at the latest. A.L.
