ZE PAK soars as analyst predicts no delays to gas project sale to PGE

PGE Polska Grupa Energetyczna SA

14/05/2025 11:46

** Shares of Polish power producer ZE PAK ZEEP.WA surge over 34% after Pekao predicted in a note that the sale of a gas project to PGE PGE.WA would be completed in June, as originally planned, and gave a price estimate for it

** "We estimate that this project could be sold for about 1.7 billion zlotys ($450 million), significantly exceeding the company's current market capitalization," Pekao analyst Andrzej Kedzierski says

** The preliminary deal, agreed in January, included ZE PAK's CCGT gas-fired power plant project and a 50% stake in a nuclear joint venture with PGE

** As of 1016 GMT, ZE PAK's shares are up 31.3%, at the top of Poland's small-cap sWIG80 index .sWIG80 and on track for their best day ever

($1 = 3.7781 zlotys)

 (Reporting by Marta Maciag)

 ((marta.maciag@thomsonreuters.com))