(Dow Jones)- The Warsaw Stock Exchange will submit its initial public offering prospectus to the Polish financial watchdog in August, its Chief Executive Ludwik Sobolewski told reporters Wednesday.
Sobolewski added the bourse will pick within days banks that will be offering shares in the business to investors.
The Polish treasury holds 98.8% in the Warsaw Stock Exchange and plans to offer around 63% of shares, holding on to 25%-30% after the IPO.
The treasury's minority stake could at a later time be sold to a strategic partner who will in the meantime supply a new trading platform to the Warsaw Stock Exchange, Treasury Minister Aleksander Grad earlier told Dow Jones Newswires. Grad said Wednesday the stock exchange will agree to buy the new platform from NYSE Euronext (NYX).
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