Poland Launches Enea IPO

Poland has pressed on with the privatisation of its power company Enea despite global market turmoil. This is part of the country's drive to meet its target of PLN2.3 billion (US$773mn) in privatisation revenue this year. A 30% stake in the company will be sold via an IPO on the Warsaw bourse. Shares will be sold at PLN19.25 a piece to industry investors, while retail and institutional investors are being offered a 10% discount. Subscription began on October 24 and stocks are scheduled to start trading on November 10.

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