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Article: Poland: PGE Prepares $1.8 Billion IPO, Poland s Biggest in Five Years.
- Article from:
- TendersInfo
- Article date:
- October 8, 2009
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PGE SA, Poland s largest power utility, is preparing to raise at least 5 billion zloty ($1.8 billion) in an initial public offering as it seeks to improve plants including the biggest polluter in the European Union.
State-owned PGE, also known as Polska Grupa Energetyczna SA, plans to sell a 15 percent stake in the second-biggest IPO by a Polish company, raising cash to replace aging capacity and make acquisitions. The company, picked to develop the country s first nuclear plant by 2020, forecasts that it will need 35 billion zloty for investment in the next four years.
The stock sale prospectus may be approved this week and the shares are due to begin ...