Investors take last chance for PKO liquidity in record deal
The Republic of Poland and policy bank Bank Gospodarki Krajowej sold Z5.3bn ($.167bn) of shares in PKO Bank Polski on Wednesday, in an accelerated bookbuild that attracted heavy international demand for what could be the last big liquidity event in the stock. The deal is Poland’s largest ever follow on.
The Polish treasury sold 153.1m shares, after increasing the deal size by 6.2m shares to 153.1m shares due to demand, at Z34.25 each. That was a 3% discount to Tuesdays pre-deal Z35.30 close, and a 1.5% discount to Wednesdays close of Z34.76.
The resized deal took the Polish states
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