Investors bid PLN 22-23/shr for GTC stake -sources


WARSAW |
Wed Jan 19, 2011 6:06am EST

WARSAW Jan 19 (Reuters) – Investors are bidding 22-23
zlotys for each GTC GTCE.WA share after its main shareholder
put 15 percent in the Warsaw-listed real estate company up for
sale, three market sources told Reuters on Wednesday.

Earlier on Wednesday, GTC said a unit of the Amsterdam-based
Kardan (KARD.AS) (KRNV.TA), GTC Real Estate Holding, wanted to
cut its GTC stake to 28 percent via an accelerated book
building, which sources said was to end on Thursday.
[ID:nLDE70I0B0]

“Investors are ready to pay 22-23 zlotys, with the seller
waiting for U.S. investors to join in later today,” one of the
sources said.

GTC shares were down 7.6 percent at 22.5 zlotys per share,
Warsaw’s leading blue-chip faller.
(Reporting by Adrian Krajewski and Piotr Bujnicki; Editing by
Will Waterman)