Polski Holding Nieruchomości (PHN) has been newly listed on the Warsaw Stock Exchange on 13 February 2013. PHN will join a group of property developers listed on the WSE and the company’s shares will be included in the portfolios of indices WIG, WIG-Poland, and WIG-Developers after three trading days from the date of listing.[1] It is the first company with a majority stake held by the State Treasury to introduce its shares to trading on the WSE this year. The issuer is also the 439th company listed on the WSE’s Main Market and the second new listing on this market in 2013.
“We want strong Polish companies to be present on the trading floor in Warsaw. This is why today’s new listing of PHN is an important step in the growth of the company as well as the entire Polish capital market. The offering that we have prepared has been well received by investors already at the stage of book-building. One day before the end of subscription, we were certain that the entire block of shares would be sold. The sale of a controlling stake to a strategic partner may also have a positive impact on PHN’s share price. We are planning to close the deal by the end of the year,” said Mikołaj Budzanowski, Minister of Treasury.
“Polski Holding Nieruchomości is the 439th company listed on the Main Market and the second new listing this year. Considering the sale of shares of WSE listed banks closed in the last few weeks, PHN’s offering is yet another proof that the activity of the Warsaw Stock Exchange still sets it apart from the European capital markets,” said Beata Jarosz, Member of the Management Board of the WSE.
“Presence among companies listed on the WSE’s Main Market entails both prestige and great responsibility. We shall take all measures possible to consistently pursue the growth strategy of our company, develop our projects in the commercial property sector, and fulfil the expectations of our shareholders. I believe that the investment in PHN shares will prove to be the right decision for them. I am certain that the status of an exchange-listed company and the resulting enhanced transparency will make Polski Holding Nieruchomości an even better business partner,” said Wojciech Papierak, President of the Management Board of PHN.
The core business of PHN is to manage properties, especially active administration of owned properties through their lease, provision of services to tenants, as well as on-going maintenance of properties. This business is supported by commercial property development. The Group’s additional business lines are the development of residential properties as well as port, reloading, cooling and energy services.