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Poland's PGNiG plans to float exploration unit by mid-year
February 5, 2013 / 11:06 AM / 5 years ago

Poland's PGNiG plans to float exploration unit by mid-year

WARSAW, Feb 5 (Reuters) - Poland’s gas monopoly PGNiG plans to float its exploration unit PGNiG Poszukiwania on the Warsaw bourse by the middle of this year, the group’s chief executive said on Tuesday.

“I hope the market conditions will be good enough for a share issue,” Grazyna Piotrowska-Oliwa told reporters.

State-controlled PGNiG, which is at the forefront of Poland’s efforts to become a leading provider of shale gas, earlier estimated the capital needs of its exploration arm at 1.0-1.2 billion zlotys ($390 million)

$1 = 3.0748 Polish zlotys Writing Agnieszka Barteczko; Editing by Mark Potter

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