“This stage of offer preparation has become a double success. On the one hand, it was the day of unquestionable triumph of citizen shareholders with over 250,000 individual investors subscribing for shares in the company, but at the same time the offer enjoyed a massive success among institutional investors who oversubscribed the shares nine times. It’s a breakthrough for the Polish capital market and it shows an immense interest of investors in the company and the potential of Warsaw as the Central-European financial centre,” Minister of Treasury Aleksander Grad said. “I would like to thank the company authorities, everyone involved in the process as well as individual and institutional investors, domestic and foreign, who have contributed to this success,” he emphasised.

PZU offer has been Poland’s largest initial public offer since the opening of the Warsaw Stock Exchange. It has also been the best IPO in the history of Central and Eastern European capital markets, the largest offer in Europe since late 2007 and the best offer in the European insurance sector in the last 5 years. The percentage of domestic and foreign investors is 59 and 41 respectively.
Revolutionary solutions for individual investors applied to the offer resulted in over 250,000 citizens subscribing for more than 7 million shares (28 per cent of the entire offer). This is the first time the offer has been placed in the Polish capital market, and there was no need to reduce subscriptions or take bank loans.

A major interest of institutional investors in the offer showed that PZU IPO was very attractive indeed. Institutions from three continents, including the world’s largest pension funds as well as sovereign wealth and university funds have taken part in the offer.