2015-05-21 13:55:16

Fifth Anniversary of PZU Listing on GPW

Warsaw, 21 May 2015

Fifth Anniversary of PZU Listing on GPW

PRESS RELEASE

  • PZU shares were newly listed on Warsaw Stock Exchange five years ago.
  • It was the biggest European IPO in 2010 at PLN 8.07 bn.
  • After five years in listing, PZU's capitalisation is more than PLN 41 billion and the share price has risen by more than 52%
  • PZU is the third biggest domestic company listed on GPW by capitalisation

On the fifth anniversary of PZU's listing on Warsaw Stock Exchange, a debate was held at the offices of GPW devoted to the question: "Could companies grow dynamically without the exchange and the capital market?" The meeting was attended by Minister of the Treasury Włodzimierz Karpiński, former Ministers of the Treasury Aleksander Grad and Jacek Socha, former head of the Economic Council to the Prime Minister of Poland Jan Krzysztof Bielecki, President of Warsaw Stock Exchange Paweł Tamborski, and President of PZU SA Andrzej Klesyk.

PZU was newly listed on GPW on 12 May 2010. The company's IPO attracted strong investor interest. Nearly 250 thousand individual investors and a large group of domestic and international institutional investors took up the shares. Individual investors subscribed for more than 7 million shares worth more than PLN 2 billion. The average investor subscription was for 28 shares. This resulted in a nine-fold oversubscription in the tranche. PZU shares opened at PLN 349, which was nearly 12 percent above the issue price. Trading in PZU shares reached PLN 1 billion within five minutes and crossed the mark of PLN 5.1 billion by the end of day.

"Looking at the current financial results of PZU, I am certain that the company's listing opened a new chapter in its history and afforded opportunities of further growth. The IPO and the listing on the exchange also put an end to a years-long conflict among PZU's shareholders, which demonstrates that the exchange allows for effective and transparent ownership transformation. I hope that PZU, a company acknowledged by investors, will continue to use the Polish exchange in the pursuit of its development ans," said Paweł Tamborski, President of the Management Board of GPW.

Within the five years, the capitalisation of PZU has risen by more than 52% and the dividends paid have totalled more than PLN 12 billion. The company's cumulative net profit in the period has been PLN 14.5 billion and the total value of trade in PZU shares has come close to PLN 124 billion (more than 271 million shares have changed hands). Within the five years, a PZU shareholder has gained more than 98% on the shares (including the cumulative dividend paid by PZU).

"Since its listing on the exchange, PZU has been constantly changing and modernising, and provides the shareholders with solid gains. Within the five years in listing, the company's value has risen to more than PLN 40 billion and each shareholder who acquired shares in the IPO has seen the investment double in value. PZU has paid no less than PLN 12 billion in dividend in the five years. These numbers put us among the leading GPW-listed companies. Our performance would not have been so impressive without the massive transition in the company. The group is marketing innovative products in Poland while becoming a benchmark and setting an exame for others to follow. We have launched a world-class insurance policy system. PZU has steadily improved its operating efficiency and cost effectiveness and successfully pursues international acquisitions. As a result, we have become a modern, profitable insurance company ranking #1 in the CEE market. Thus, we have laid a robust foundation for our strategy PZU 3.0, which sets ambitious goals in the insurance, investment and health care segments," said Andrzej Klesyk, President of PZU.

***

Warsaw Stock Exchange (GPW) is the biggest securities exchange in Central and Eastern Europe. GPW operates a regulated market of shares and derivative instruments and the alternative stock market NewConnect for growing companies. GPW is developing Catalyst, a market for issuers of corporate and municipal bonds, as well as commodity markets. Since 9 November 2010, GPW is a public company listed on Warsaw Stock Exchange. For more information visit http://www.gpw.

distributed by