Grupa Pekao aims to streamline, strengthen
Article Abstract:
Grupa Pekao SA, the leading consumer bank in Poland, will conduct an initial public stock offering on June 15, 1998. The company will sell 15% of Pekao's stock for between 35 zlotys and 45 zlotys, or $10.28 and $13.22, per share. The IPO hopes to strengthen Pekao's position as a leader in the market, according to bank President Maria Wisniewska. The company will also undergo a four-way consolidation that is expected to be completed in 1998, although full consolidation could be completed in three years. Pekao managers also started to streamline the bank in preparation for the upcoming consolidation. Pekao's IPO will become the largest listing by capitalization in the Warsaw Stock Exchange.
Comment:
Will conduct an initial public offering on 6/15/98 to sell 15% of Pekao's stock for between 35 zlotys & 45 zlotys per share
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Poland's terms for Pekao IPO value bank at up to $1.8 billion
Article Abstract:
Grupa Pekao SA will conduct an initial public offering (IPO) on June 15, 1998 that will offer 15% of its shares. The Polish government, which owns the commercial bank, also announced that the IPO plan has set the value of the bank at $1.8 billion. The bank's listing will also be the largest on the Warsaw Stock Exchange in terms of capitalization since it will have a value between 4.8 billion zlotys and 6.2 billion zlotys. The bank also announced that the IPO will be followed by a stock offering of 35% to one or more strategic investors which will then be followed by a capital increase.
Comment:
Will conduct an initial public offering on 06/15/98 that will offer 15% of its shares
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Comment about this article or add new information about this topic:
Poland to set offering price of Pekao today
Article Abstract:
Grupa Pekao SA's share price for its initial public offering (IPO) will be revealed on June 10, 1998 by the Polish government. The announcement of the share price comes after the government set a share price range which gave the bank a value of up to $1.8 billion. The bank, which is the largest bank in Poland, has attracted a lot of interest from investors despite significant uncertainties about it. The Polish government will float 15% of the bank's shares on the Warsaw Stock Exchange while it will later sell in 1998 an additional 35% to one or more strategic investors.
Comment:
The share price for its initial public offering will be revealed on 06/10/98 by the Polish government
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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