🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

FACTBOX-Polish $13 bln privatisation plan through 2010

Published 09/07/2009, 12:14 PM
Updated 09/07/2009, 12:18 PM
ORAN
-
LSEG
-
NYX
-
SPL1
-
OPL
-
HG
-

WARSAW, Sept 7 (Reuters) - The Polish government said on Monday it needed at least 28.5 million polish zlotys ($10.0 million) to keep borrowing under control, money that it aims to raise from a comprehensive privatisation plan that targets 36.7 billion zlotys.

Following is a list of the main parts of the two-year privatisation programme, with the bulk of the revenues planned for next year:

MINERS

* Poland is considering to sell up to 10 percent in Europe's No.2 copper producer KGHM, which could bring in 1.7 billion zlotys. The government rejected the treasury's proposal to unload its entire 42 percent stake after it was criticism by ruling coalition politicians and KGHM unions.

* The treasury plans to sell a controlling stake in coal miner Bogdanka, following its successful listing in June. The government's 65.5-percent stake is currently worth 1.6 billion zlotys.

REFINERS

* Poland aims to sell about 13 percent in the country's No.2 refiner Lotos and maintain a majority stake. The state currently owns 59 percent of the company but before selling the 13 percent stake will boost its holding by transferring some assets. Lotos has a market cap of 3.2 billion zlotys.

ENERGY COMPANIES

* Poland last month started exclusive talks with Germany's RWE o sell its 67-percent stake, worth 7 billion zlotys, in Polish utility Enea.

* The treasury plans to unload part of its stake in Poland's top utility PGE in 2010, keeping a majority holding. The fully state-owned company aims for a November debut on the Warsaw bourse, hoping to get 5 billion zlotys from the issue.

* Tauron, which trails only PGE among Polish energy companies, aims to raise 4 billion zlotys when it goes public next year in a yet unsettled combination of a new share issue and stake-sale by the Polish government.

WARSAW BOURSE

* The 98.8-percent state-owned bourse -- the region's largest -- is set for privatisation this year, with Deutsche Boerse, London Stock Exchange, Nasdaq OMX and NYSE Euronext making preliminary offers. The bourse's last valuation in 2007 pegged its worth at 1.8 billion zlotys.

SMALL STAKES

* The Treasury wants to sell its leftover 4.2 percent stake in France Telecom unit TPSA when the share price breaks the six-month average of 19.3 zlotys. The Polish operator, worth 22 billion zlotys, trades at 16.69 zlotys.

* The government plans a sale of its 2.5-percent stake in Citibank's Handlowy, with the current market price valuing the holding at almost 200 million zlotys.

* Last month, Poland sold almost all of its 4-percent stake in Bank Pekao, a unit of Italy's UniCredit, for a joint sum of almost 1.3 billion zlotys.

* Also in August, it unloaded its 1.93-percent holding in lender BZ WBK, controlled by Allied Irish Banks, for 167 million.

* Sources told Reuters on Monday that the Treasury was seeking buyers for its 3.7 percent, or 1.06 million shares, in General Electric's Bank BPH, pegging the price at around 60 zlotys per share. ($1=2.860 Zloty) (Reporting by Adrian Krajewski; editing by Karen Foster)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.