Newag launches railway float after PKP Cargo success

By Andrew Griffin
13 Nov 2013

The owners of Newag, a Polish railway stock production and maintenance company, are set to raise Z152.6m ($49m) through an IPO next week, following the launch of two IPOs in the country already this month.

The company's shareholders will sell 21.8m shares — 48.4% of the company — for up to Z19 each.

The company is currently owned primarily by the Multico Group, a Polish holding company which owns 34.6% and is owned by Zbigniew Jakubas, who also owns 43.85% of Newag.

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