* Kardan’s GTC Real Estate to sell 15 pct in GTC
* Book-building to end Thursday at the latest – sources
* Shares in GTC fall 6 pct at market open
(Adds more detail, share reaction)
WARSAW, Jan 19 (Reuters) – A unit of the Amsterdam-based
Kardan (KARD.AS) (KRNV.TA), GTC Real Estate Holding, will sell
15 percent in Warsaw-listed real estate company GTC (GTCE.WA)
via an accelerated book building, GTC said on Wednesday.
Two market sources told Reuters the book-building will end
on Thursday at the latest [ID:nWSF009901]. GTC shares were
underperforming Warsaw’s bluechip WIG20 .WIG20 index with a 6
percent decline.
GTC Real Estate Holding, largest shareholder in GTC, valued
at 5.3 billion zloty ($1.84 billion), will cut its stake in GTC
to 28 percent, vowing to keep this chunk intact for at least the
next 15 months.
Ipopema Securities, KBC Securities, and UniCredit together
with Morgan Stanley are running the sale.
($1 = 2.888 zlotys)
(Reporting by Adrian Krajewski; Editing by Dan Lalor and Hans
Peters)