The TPSA stock sell-off not to lower its price much
The inflow of almost 210 million shares of the telecom company Telekomunikacja Polska (TPSA) owned by its employees to the Warsaw Stock Exchange should not result in a dramatic fall of the company's stock price. Even if the price goes down, it should be rather a one-time drop. The employee shares, which are in the hands of some 200,000 employees and pensioners of TPSA and Polish Post, are worth PLN 5.3bn (USD 1.2bn), and will go to trading on Wednesday. This coincides with relatively good market conditions and a come-back of foreign capital to the Warsaw bourse. Foreign investors stepped into the market during the recent few market sessions to snap up some shares in Poland's largest bank Pekao from retail investors who had purchased them in a public offer. It is likely that additional shares in TPSA will also find buyers, as institutional investors want to refill their portfolios after the recent sell-off.
Źródło:IntelliNews Daily
