DJ UPDATE: Poland Prices 16% In Enea At PLN15.5-PLN17.5/Share-Treasury

WARSAW (Dow Jones)--Poland's Treasury has set the price per share of the 16% stake it is selling in Polish power group Enea SA (ENA.WA) at between 15.5 zlotys ($5.2) and PLN17.5 zlotys, the ministry spokesman said Monday.

The offer is part of Poland's ambitious privatization program aimed at raising up to PLN28 billion from state asset sales this year.

The Treasury currently holds a 76.5% stake in the company. Sweden's Vattenfall AB holds 18.66%.

Credit Suisse was the global co-ordinator of the offer, with UniCredit CAIB, Citigroup and its Polish brokerage DM BH in charge of book building.

The Polish government said earlier it would restart its search for a strategic investor for Enea immediately after selling the 16% stake to the public.

The Treasury last year failed to sell a controlling stake to Germany's RWE AG (RWE.XE), which walked away from the deal citing valuation issues.

At 1007 GMT, shares in Enea were down 1.1% at PLN17.27 on the day.

-By Marynia Kruk, Dow Jones Newswires; +48 22 447-2431; marynia.kruk@dowjones.com

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February 08, 2010 05:21 ET (10:21 GMT)

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