The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) has exited from Wirtualna Polska Holding SA (WPH), Poland’s leading online media, by selling 100 per cent of its stake.
The EBRD originally acquired a stake in WPH in 2015 as part of the company’s initial public offering. The shares, representing 3.12 per cent of WPH’s total shares, were sold in an Accelerated Bookbuilding.
The shares were placed with domestic, regional and international institutional investors through mBank, according to EBRD.
Offering launched after the stock market close in Warsaw on 25 January 2017. The transaction was successfully completed at a small discount to the closing price of PLN 58.99 on the Warsaw Stock Exchange.
Grzegorz Zieliński, EBRD Regional Director, Poland and the Baltic States, said: “The EBRD as a minority shareholder has supported the development of WPH into Poland’s leading online media company, creating a unique converged platform of media content in the CEE region.
“We are very pleased with the results the management of WPH has achieved and see this as a sound basis for the company’s future development.”