2 October 2009 - PGE, Poland's largest power utility, will list on the Warsaw stock exchange in a EUR1bn ($1.4bn) dea.

According to the Financial Times, the deal, arranged by Goldman Sachs and UniCredit, is set to price at the end of this month. It will be the second-largest listing in Poland following the IPO of PKO, the commercial bank, in 2004.

The region's last benchmark deal was a EUR500m offering from Enea, the Polish utility, in November.

There has been a handful of small deals in the region this year, amounting to €150m. However, the only deal of any significance came from Bogdanka, the Polish coal group. This raised €115m in June.

The Polish government will reduce its stake in the PGE to 85 per cent, offering 15 per cent of the enlarged share capital of the company to private investors. Proceeds will be used to expand PGE's generating capacity.