CEE Equity
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Poland, which is selling a 3.5% stake in utility PGE Polska Grupa Energetyczna, will raise up to Z1.325bn ($436.3m) through the block trade. -
Russia’s central bank sold a Rb16bn ($470m) stake in Moscow Exchange on Tuesday night in an apparent return to normal activity in Russian equity capital markets.
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Power distribution firm Electrica has completed Romania’s largest ever IPO with a Leu1.95bn ($606m) privatisation in Bucharest.
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Three deals in Europe’s bulging IPO pipeline were pulled this week as issuers baulked at the softening valuations demanded by the region’s investors. Deals for budget airline Wizz Air, healthcare firm BBI Diagnostics and Nordcap Offshore were all cancelled at key stages in bookbuilding as it became more and more difficult to find satisfactory valuations for small cap firms.
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A local fund sold a L642m ($198m) stake in Romanian gas producer Romgaz on Monday night, making it the second deal in quick succession from the country after a dearth of Romanian equity capital markets activity.
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Polskie Koleye Panstwowe (PKP) sold a 17% piece of PKP Cargo, the subsidiary it floated last year, in an accelerated book build led by Morgan Stanley, PKO BP and Société Générale.
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A local fund sold a $198m stake in Romanian gas producer Romgaz on Monday night, making it the second deal from the country in quick succession after a dearth of Romanian capital markets activity.
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Polish state railway Polskie Koleje Panstwowe (PKP) is selling up to 7,627,650 shares in PKP Cargo, the cargo unit subsidiary it floated last year.
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Hungarian budget airline Wizz Air pulled its IPO on Monday as profit warnings and global unrest hit its peers with the deal entering a key stage in book building.
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TBC Bank, the Georgian lender, completed a pioneering IPO last Friday, with bankers reporting that expected investor worries about central and eastern Europe mostly didn't materialise.
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The owner of Polish aluminium parts maker Alumetal is set to IPO its stake in the business in a deal launched on Thursday, with the small size likely to mean the deal should pass through market jitters.
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Romanian power distributor Electrica launched bookbuilding on its $600m London and Bucharest IPO on Thursday, as the company moves towards privatisation with the country's largest ever IPO.
