According to Prague Securities Centre, government stake at CEZ is 66.84% as of 3 October. Government has sold so far 4.6m shares that are 0.8% of share outstanding. Czech Finance Minister Miroslav Kalousek reiterated yesterday that government will sell 7% stake in CEZ by year end.
Given the fact that there are 58 business days left in 2007 government needs to sell on average 636,116 per day in order to sell remaining 6.2% (36.9m shares) stake in CEZ. Since the end of August government has been selling on average 175,386 shares per day. It is likely that there is going to be an oversupply of stock because CEZ already owns 6.67% of it shares and needs to buy only 3.3% more of its share back.