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UPDATE 1-Poland prices Tauron stake at PLN 1.28 bln -sources

Published 03/22/2011, 02:19 PM
Updated 03/22/2011, 02:21 PM

(Adds treasury ministry, detail)

WARSAW, March 22 (Reuters) - Poland priced its 11.9 percent stake in the country's No.2 utility Tauron at 6.15 zlotys per share, valuing the stake at 1.28 billion zlotys ($450 million), three independent market sources told Reuters on Tuesday.

"Book-building closes at 1730 (1630 GMT), with a reduction rate (oversubscription) around 30 percent," one of the sources also said.

Warsaw, which is aiming for 15 billion zlotys in privatisation revenues this year, declined to comment on the matter.

Tauron lost nearly 3 percent on Tuesday, closing at 6.20 zlotys per share.

For a factbox on Poland's privatisation plans, please see: (Reporting by Patryk Wasilewski and Piotr Bujnicki, writing by Gabriela Baczynska; Editing by Will Waterman) ($1=2.844 Zloty)

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