Polish Real Estate Holding (PHN) is holding up its plan to go public this year. Unofficially, the public offering had been scheduled for the second half of June and was to be targeted at both domestic and foreign investors. After examples like PZU, PKO BP and JWS, this was to
be one of the largest privatizations eve in Poland. “We are confirming the plan to enter the main stock exchange market,” Wojciech Papierak, CEO of PHN told Parkiet pl. website. “The details of the offer and the date of the debut will depend on the Ministry of Treasury.” PHN is expected to submit its prospectus to the Polish Financial Supervision Authority (KNF) in April. Along with Societe Generale and Deutsche Bank, the group has appointed four banks, as well as three brokerage houses houses (PKO BP, BRE Bank and BZ WBK) to present its PLN 8bn portfolio to foreign investors before its IPO on the Warsaw Stock Exchange. PHN owns some of the 1.3ha of undeveloped land and 200,000 sqm of floorspace in buildings across the country, including Intraco, one of the oldest skycrapers in Warsaw.
