Updated: Poland postpones PKO sale as Russia ponders over Sberbank
The Polish ministry of treasury on Tuesday confirmed the postponement of a secondary public offer of PKO Bank Polski shares which could have been worth as much as $2.7bn though said it hopes to complete the deal after elections in October. The chances of Russia completing a $5bn sale of Sberbank shares have also receded during extended market turmoil during the summer.
(Updated to include analyst comment)
The public offering could be one of the largest transactions in the history of the Polish capital market, said the ministry. Optimal market conditions are necessary to carry out a transaction of this magnitude.
The PKO prospectus had been filed in mid-July, setting the deal
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.