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PGNiG IPO countdown.(initial public offering)(Brief Article)
Polish gas firm PGNiG last week completed transfer of its transmission subsidiary Gaz System to the state, in a move that is expected to allow PGNiG to be privatised later this year. The state is expected to retain ownership of Gaz System, which operates 15,000km of gas pipelines. At present, the state owns 100pc of PGNiG, but this is due to fall to 82pc after an initial public offering (IPO) planned for later this year. PGNiG hopes to raise up to 1.5bn zloties ($450mn) …
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