Citigroup, Goldman, JPMorgan, UBS to Manage Warsaw Bourse IPO
Poland chose Citigroup Inc. (C), Goldman Sachs Group Inc., JPMorgan Chase & Co. (JPM) and UBS AG (UBSN) to manage the initial public offering of the Warsaw Stock Exchange, central Europe’s biggest equity market.
Ipopema Securities SA, KBC Groep NV (KBC), Societe Generale SA (GLE), and PKO Bank Polski SA will be bookrunners for the November offering of a 63 percent stake, the Treasury Ministry said on its website today. Bank Ochrony Srodowiska SA, Alior Bank SA, Banco Espirito Santo SA, IDM SA and Wood & Co. will also help manage the offering.
The sale is part of a government plan to raise 25 billion zloty ($7.8 billion) in 2010 to help finance the widening budget deficit. Poland this year sold stakes in insurance, energy, copper and coal mining companies.
Poland’s only stock exchange has total capitalization exceeding $150 billion, according to Bloomberg data. More than 500 companies trade on its main market and NewConnect platform for smaller companies. The Treasury Ministry didn’t give any valuation for the stake.
Poland last year tried to sell a majority stake in the bourse, soliciting bids from the London Stock Exchange Group Plc, NYSE Euronext, Nasdaq OMX Group Inc. and Deutsche Boerse AG. It received no binding offers.
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