Poland plans July IPOs of power group Enea, bank BGZ

WARSAW, May 28 (Reuters) - Poland plans to list shares in power group Enea and bank BGZ in July as its ambitious privatisation plans pick up steam, a deputy treasury minister said on Wednesday.

The government plans to sell new Enea shares in Warsaw bourse's largest initial public offering so far this year worth 2.5-3.0 billion zlotys ($1.16-$1.39 billion), Deputy Treasury Minister Joanna Schmid said in a television interview.

Poland will also float its 37 percent stake in bank BGZ, estimated to be worth several million zlotys. The bank's largest shareholder is Dutch Rabobank [RABN.UL].

"In July we'll have the IPOs of Enea and BGZ and in October the Warsaw Bourse," Schmid said.

The current government, which took office in November, has vowed to jumpstart privatisation that stalled under its conservative predecessors. It wants to raise $14 billion from sales of state stakes in 740 companies over the next four years.

In the first privatisation IPO since the debut of press distributor Ruch RUCH.WA in December 2007, Poland will sell new shares in chemicals producer Tarnow worth some $140 million this month. [ID:nL2891495]

Enea is Poland's first of four state-owned power groups slated for an IPO through a sale of new shares. The treasury originally planned to also list the largest, PGE, this year, but Schimd said its offer would take place next year. (Reporting by Marynia Kruk, writing by Chris Borowski; editing by Rory Channing)
Source:reuters.com