Small investors critical of PGNiG's share distribution policy

Because of the high demand for the stocks, both in the tranche for individual and institutional investors, the reduction was often larger than 90%. In some cases for individual investors it amounted even to 99.95%. Many of the investors consider this a scandal and are appealing to the Securities and Stock Exchange Commission (KPWiG). The main allegation concerns the disproportionate distribution of shares among particular investors. Meanwhile, according to Jan Kuźma from PKO BP brokerage house which offered PGNiG's shares, the discrepancy in the share distribution are just an element of the company's policy. "Already before the share issue the concern is starting to build its relations with its future shareholders, and this should be treated as part of this process," he said. PGNiG refused to comment on the matter. (Puls Biznesu, p. 4) A.F.