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- Thanks to recent transactions in shares of companies listed on the WSE, the free-float ratio[1] of the Warsaw Stock Exchange has increased by 1.5 percentage points to 47.5%.
- PKO BP has become the domestic company with the highest value of free-float shares on the WSE (PLN 29.7 billion).
Significant transactions in shares of companies listed on the WSE, which help to further diversify the shareholding, have increased the number of free-float shares and, in consequence, enhanced investment opportunities for market participants. Following the recently closed transactions, including the sale of shares of the bank PKO BP at PLN 5.2 billion by the State Treasury and BGK and the sale of shares of the bank Pekao at close to PLN 3.7 billion by UniCredit, more than 60% of shares of each of the top three companies on the WSE Main Market as measured by free float are free-float shares.
Top 5 free-float (FF) companies as at 30.01.2013 (by closing price of shares as at 30.01.2013)
|
No. |
Abbreviated company name |
FF value (PLN mn) |
Number of FF shares |
Share of FF (%) |
|
1 |
KGHM |
25 645.1 |
136 410 100 |
68.2 |
|
2 |
PKO BP |
24 234.5 |
704 490 992 |
56.4 |
|
3 |
PZU |
22 442.8 |
55 967 047 |
64.8 |
|
4 |
PEKAO |
16 676.3 |
107 036 279 |
40.8 |
|
5 |
PKN ORLEN |
15 530.9 |
309 998 865 |
72.5 |
Top 5 free-float (FF) companies as at 5.02.2013 (by closing price of shares as at 4.02.2013)
|
No. |
Abbreviated company name |
FF value (PLN mn) |
Number of FF shares |
Share of FF (%) |
|
1 |
PKO BP |
29 672.7 |
857 593 723 |
68.6 |
|
2 |
KGHM |
25 645.1 |
136 410 100 |
68.2 |
|
3 |
PZU |
22 442.8 |
55 967 047 |
64.8 |
|
4 |
PEKAO |
20 431.7 |
130 972 546 |
49.9 |
|
5 |
PKN ORLEN |
15 189.9 |
309 998 865 |
72.5 |
At present, the free-float ratio of domestic companies on the WSE Main Market is 47.5% compared to 46.0% at 2012 year-end.
The recent transactions in shares of banks have caused a change in participation of those companies in exchange indices. According to the WSE’s regulations, if the number of free-float shares of a company increases by at least EUR 250 million, the company’s participation in respective indices is subject to an extraordinary revision. Such operations are announced in official communiqués of the WSE at least two trading sessions before they are performed.
[1] All shares issued by the company and entered in the register excluding registered shares, treasury shares of the company designated for cancellation, and shares held by a shareholder or a group of shareholders representing at least 5% of the company’s shares. Free-float shares include shares held by investment funds, pension funds, and asset managers, irrespective of the holding balance.
