Shares in the Polish Real Estate Holding rose slightly in its WSE debut to PLN 22.75. Eventually the company produced PLN 238.6m in its IPO yesterday. The owner of PHN, Poland’s Treasury, sold 10,846,000 of its shares, or 25 percent of the holding. It’s the first WSE-transaction for the state this year.
PHV vice president Paweł Tamborski said Poland’s Treasury will still be looking for a strategic investor in Fall, as it hopes to cut its stake to just 20 percent. Eventually, the state looks to privatize the holding entirely, which currently manages a portfolio of 150 properties across the country.
PHN posted a consolidated net loss of PLN 149.2m in the f
