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2 months ago
EBRD likely to sell 2.9 percent in Polish Azoty for at least 63 zlotys/share-sources
June 28, 2017 / 8:16 AM / 2 months ago

EBRD likely to sell 2.9 percent in Polish Azoty for at least 63 zlotys/share-sources

WARSAW (Reuters) - The price at which the European Bank for Reconstruction and Development (EBRD) will likely sell half of its stake in Polish chemical group Azoty in accelerated book building (ABB) will be no lower than 63 zlotys (£13) per share, two fund managers said.

EBRD is selling 2.85 million shares, or 2.9 percent, in the state-run Azoty. The book-building process is expected to close by 1200 GMT or earlier, the sources said.

Shares in Azoty fell 8.5 percent to 63.66 zlotys per share at 0832 BST.

Reporting by Agnieszka Barteczko; Editing by Lidia Kelly

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