Poland’s Treasury looks set to cut its stake in the country’s number one lender to 21.64 percent through a tender it hopes will raise PLN 5.2bn. Shortly after the news hit the Warsaw stock market, shares in the bank slumped 1.3 percent to PLN 35.30 (per share).
The government has indicated that the sell-off will be dedicated to local, individual investors adding that no hostile takeover will be possible. PKO BP currently employs 27,000 employees and runs the the biggest banking chain in the country.
