Minority shareholders of Ciech have put up for sale a total of 14.75% of the chemical company’s shares in response to an invitation issued by KI Chemistry. As a result of the transaction settlement, the share of Kulczyk Investments Group increased from 77.70% to 92.45%.
Offers to sell Ciech’s shares to KI Chemistry at a price of PLN 54.25 per share were accepted from September 18 to 25. Minority shareholders, including both individual and institutional investors, offered a total of 7,770,828 shares for sale. The transaction was settled on September 28, with its total value amounting to approximately PLN 422 million.
The price offered by KI Chemistry, worth PLN 54.25 per share, was more than 20% higher than Ciech’s stock exchange rate in the weeks leading up to the invitation announcement. The strategic investor bought Ciech’s shares at the same price in the tender offer conducted in March, and also during the first invitation to sell shares and package transactions carried out in June this year.
