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Privatisation revenues top PLN 13bn in 2011, near PLN 44bn in 2008-2011


2012-04-11



Revenues from privatisation reached just over PLN 13bn (approx. €3.2bn) in 2011, which represented about 87% of the annual target of PLN 15bn (€3.6bn), according to official figures approved by the government on 10 April.

Last year’s privatisation programme involved 304 companies. The lion’s share of the proceeds came from share offerings on the Warsaw Stock Exchange, including large IPOs of companies such as JSW, the mining group, or BGZ, the bank. A downward shift in stock market sentiment in the second half of last year was also responsible for the failure to reach the PLN 15bn target of privatisation proceeds, as it forced the Treasury to postpone some large projects, e.g. the sale of a further stake in PKO BP, the country’s largest bank.

Overall in the four year period 2008-2011, i.e. since the current ruling coalition took power, privatisation revenues exceeded PLN 43.9bn (€10.7bn), which represents 32% of the total amount raised since Poland’s transition to a market economy started in 1989.



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