Three companies compete to organize PKE's share issue

This week the management of Southern Power Supply Concern (PKE) is to choose a company to organize its zł.500-600 million share issue. Three bidders are competing for the contract: banks Pekao with PKO BP, Citibank in consortium with BRE Bank and Bank BPH, while the third bidder is ING Bank Śląski. PKE decided on the share issue in order to raise cash to complete the construction of a power block in the Łagisza Power Station that is expected to consume in total over zł.1.8 billion. The share issue was for PKE a last resort to gather funds as banks turned down its loan application. PKE is not the only investor in the sector that faces such difficulties, last year Elektrim's Pątnów-Adamów-Konin project failed to succeed in its request for a bank loan to build the Pątnów II energy block. (Puls Biznesu p. 7) M.G.