Poland’s Ministry of Treasury could be in talks with one of the investments funds to sell some stake in its Polish Real Estate Holding PHN, claims the website parkiet.pl. According to parkiet, the state hopes to offload a minority stake in the holding before the IPO on the Warsaw’s stock exchange, planned for PHN for next year.
Although PHN holds some a sizable property portfolio, market watchers agree its value could be overstated, as some of the business risks were not included, such as highly complicated structure of the real estate portfolio and the potential claims from the landlords.
“PHN is a perfect product for the fund, that will implement a medium-term investment strategy for the holding. Organising the property portfolio, with all of its palaces, small villas, apartments and office buildings could take several years,” claims parkiet.
