Poland picks advisers for listing of power company Energa

Ipopema Securities SA

01/08/2013 14:39

WARSAW, Aug 1 (Reuters) - Poland has hired advisers for this year's listing of power supplier Energa - the country's last fully state-owned electricity utility, the ministry overseeing the privatisation of state assets said on Thursday.  A deputy treasury minister warned on July 8 that Energa's flotation may be delayed and said the government was also considering an alternative method of privatisation. "The treasury ministry confirms its intention to conduct an IPO still this year but this will depend, among other things, on market conditions," the ministry said in a statement. Poland is expected to retain 50 percent of Energa. Its chief executive said on June 26 he expected to raise more than 500 million zlotys ($160 million) from the sale of new shares.  The intial public offering of Energa - the smallest of Poland's power companies and with the most renewable energy capacity - is part of a 5-billion-zloty ($1.6-billion) privatisation plan for this year. The ministry said it picked UBS  UBSN.VX  and JP Morgan JPM.N  as global coordinators for the Energa transaction.   Citi Handlowy, PKO BP  PKO.WA , UniCredit  CRDI.MI , Espirito Santo, Bank of America Merrill Lynch  BAC.N , Ipopema, BRE Bank and BNP Paribas  BNPP.PA  will also take part. (Reporting by Agnieszka Barteczko; Editing by Louise Ireland) ((agnieszka.barteczko@thomsonreuters.com)(+48226539721)(Reuters Messaging: agnieszka.barteczko.thomsonreuters.com@thomsonreuters.net)) Keywords: POLAND ENERGA/