EBRD sells its stake in Polish PKP Cargo
Published: Tue, 2015-02-17 16:04The European Bank for Reconstruction and Development has sold its 5.1% stake of in Polish rail freight operator PKP Cargo. This was declared on February 11, just 15 months after EBRD bought the shares during an IPO, saying it is now happy to leave the company in the hands of institutional investors.
The development bank sold its 2.3mn shares via a speeded up book build offering launched after the stock market close in Poland on February 10, it reported in a statement.
The transaction was successfully completed at a small discount to the previous day's closing price of PLN89.0 (€21) on the Warsaw Stock Exchange. It attracted strong interest from a mix of institutional investors both in Poland and internationally, the statement announces.
Source: EBRD