A privatization adviser has recommended the State Treasury to conduct the Warsaw Stock Exchange (WSE) privatization in two stages including a public offering, according to Bank BPH in Poland.
According to a scenario, which is unofficially said to be the most probable-but has yet to be confirmed, the state would retain 25% in WSE shares, while the remaining 75% would equally (each 25%) be offered to a strategic investor, to institutional investors and to individual shareholders.
“However, the State Treasury’s representatives confirmed that the Ministry had returned the report to the advisor and expects its remarks, described as relatively uncritical, to be taken into consideration. A final version of the advisor’s report is expected to be submitted by the end of September 2005,” according to Krzysztof Pekrul, Country Specialist at Bank BPH.
The government formed after parliamentary elections in September 2005 will finalize the decision regarding the WSE privatization.