According to the new plans presented yesterday, the State Treasury intends to sell small stakes it owns in publicly traded companies. In (33 PLN, 0,00%), the State owns 2.12% stake worth more than PLN 90m at yesterday’s closing. In (154 PLN, 0,00%), the State owns 4.52% stake worth some PLN 66m. The detailed schedule of the sale was not given. It should take place within the next two years.
Our view: The news came out during the session yesterday and had rather limited negative trading impact. The plans are rational from the point of view of the Treasury, which is not managing these stakes and not even participating in shareholders meetings.