Will markets fear Gdynia Shipyard's stake in TPSA?

The government is considering transferring a 1% ($45 million) stake in TPSA to the ailing Gdynia shipyard to raise the yard's capital, a Treasury official said on Tuesday. The news immediately sparked fears of an oversupply of shares on the market. Last year the government gave three state-owned institutions a combined 4.7% stake in TPSA, prompting periodic drops in the operators share price on fears the shares would be dumped on the market. "The 1% stake is only a proposal, a final decision has not been taken yet," stressed Deputy Treasury Minister Piotr Czyzewski during a meeting with reporters after attending a session of the Parliamentary Commission on the shipbuilding Industry. (Reuters) J.K.