Poland sets high price for Grupa Pekao's IPO
Article Abstract:
Grupa Pekao SA's initial public offering's price is set at the top of its range by the Polish government. The price of 45 zlotys, or $13.08, per share values Grupa Pekao at 6.2 billion zlotys. Pekao will be the largest listing on the Warsaw Stock Exchange by market capitalization when it starts trading, expectedly on June 30, 1998. Even if only15% of Pekao is being offered, the listed stake will be larger and more liquid than most companies that are currently trading on the Polish stock exchange. Based on its offering price, Pekao is selling at 8.4 times its estimated earnings for 1998 and 1.6 times its estimated book value for the same year.
Comment:
Its initial public offering's price is set at 45 zlotys, or $13.08, a share by the Polish govt, valuing Pekao at 6.2 bil zlotys
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Hypo Bank purchases stake in BPH
Article Abstract:
Bayerische Hypo- & Vereinsbank AG, the second-biggest bank based in Munich, Germany, is acquiring a strategic 36.7% share of Bank Przemyslowo-Handlowy SA of Krakow, Poland valued at around $600 million. HypoVereinsbank deputy head of group development Markus Fell indicated that his bank would like Bank Przemyslowo-Handlowy to become a major bank in Poland and the region. Fell explained that HypoVereinsbank is trying to venture into other European regions in its quest to concentrate on the regional banking industry.
Comment:
Is acquiring a strategic 36.7% share of Bank Przemyslowo-Handlowy SA of Krakow, Poland valued at around $600 million
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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