Treasury Minister pushes back JSW debut
PR dla Zagranicy
John Beauchamp
19.05.2011 11:45
Treasury Minister Aleksander Grad has announced that Polish coking coal giant Jastrzebska Spolka Weglowa is to float on the Warsaw Bourse on 6 July.
The IPO for Jastrzebska Spolka Weglowa “will be concluded by the end of June, with the debut planned by 6 July,” Minister Grad announced on Wednesday.
Jastrzebska Spolka Weglowa, the largest producer of coking coal in the EU, was previously billed to float on the Warsaw Stock Exchange on 30 June, although was set back because of trade union opposition.
One of the key demands made by union leaders was confirmation that the State Treasury would retain control of JSW once it had floated on the Warsaw Bourse.
Minister Grad also gave reasons for the debut move amid fears that American investors would not pick up the offer due to the country’s Independence Day holiday on 4 July.
(jb)