On the 20th November this year, Ringwood Financial LTD with headquarters in Nicosia in Cyprus, submitted a request to UOKIK ( Office of Competition and Consumer Protection ) for a permission for concentration consisting of taking over the control of Polski Holding Nieruchomości.
Preparation process of the first Initial Public Offering (IPO) of Polski Holding Nieruchomości is underway. It includes searching for an investor, who'll acquire significant shareholding under the IPO. Ringwood Financial LTD, belonging to Radius Group is one of the potential investors.
The Ministry of Treasury's intention is to finish the IPO process in 1st quarter of 2013, as the ministry's spokesperson. Katarzyna Kozłowska, informs. She also says, that final information, offer's structure, terms of a possible investor's participation are going to be revealed in a prospectus at the time of its publication.
POLSKI Holding Nieruchomości has one of the biggest portfolios in Polish commercial property industry. The group was created in 2011 as a concolidation of national partnerships, and currently has 158 properties, dispersed throughout the entire country, at its disposal. Key buildings belonging to PHN are among others Intraco high-rise and Kaskada office building in Warsaw, as well as Dalmor Port Rybacki in Gdynia. PHN is currently executing a construction of a modern office building in Warsaw on 10A Foksal St. and of SEGRO Industrial Park in Wrocław, as a joint venture with SEGRO developer.
PHN's capital amounts to over 43 million PLN. Currently 100% of the holding's shares belong to the exchequer.