Poland hopes to raise $460 mln for BGZ stake – paper


Poland’s government wants to raise 900 million to 1 billion zlotys ($414.2-$460.2 million) when it floats its 37% stake in bank BGZ in July on the Warsaw bourse, daily Puls Biznesu said on Tuesday.

The newspaper did not cite a source for the report. The government was not immediately available to comment. The bank’s largest shareholder is Dutch Rabobank, which holds 59%.

The centre-right government, which took power last November, promised to speed up privatization, largely stalled under the previous conservative administration. Floating the government’s stake in BGZ is part of its plan, to sell stakes in 740 companies and raise 20 billion to 28 billion zlotys for the budget over the next four years. (Reuters)


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