Polkomtel's IPO to be postponed?

4 Feb 2010

The date for the initial public offering (IPO) of mobile network operator Polkomtel may be pushed back, according to the Wall Street Journal. Polkomtel’s shareholders had said that the flotation would take place in Q1 2010, but are now apparently undecided, and the date could be postponed to Q3. The company’s three largest shareholders are oil refiner and petrol retailer PKN Orlen (24.39%), copper and silver producer KGHM (24.39%) and electricity company Polska Grupa Energetyczna (PGE, 21.85%). Orlen announced last year that it needs additional funds and therefore wants Polkomtel to be floated. According to local newspaper Rzeczpospolita, KGHM is not yet sure whether it will sell its shares, while PGE is still consulting the issue with advisers.

Poland, Plus (Polkomtel)