Pursuits
Global City Plans May Hurt Warsaw Bourse Growth, Aviva Says
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Warsaw Stock Exchange rules on delisting foreign companies cast a shadow on central Europe’s largest equity market, dampening investors’ interest in overseas share sales, Aviva PTE SA, Poland’s second-largest pension fund, said.
Aviva and three other Polish funds are seeking to block a plan by Rotterdam-based cinema operator Global City Holdings NV to withdraw its trading from the Warsaw bourse. Even as the funds together own more than the required 20 percent stake to block a delisting under Polish law, they are unable to stop the plan as the local regulations don’t apply to foreign companies.