21 January 2013 13:40 [Source: ICIS news]
LONDON (ICIS)--International investment funds will from 21 January start buying into Poland's Zaklady Azoty Tarnow (ZAT) following an announcement from Morgan Stanley Capital International (MSCI) that it will include the expanding group's stock in two of its indices, an investment bank said on Monday.
“ZAT being listed in the MSCI should attract more interest from global investors as the company will now appear on their radars,” said Mateusz Zawada, an analyst at Prague-based WOOD & Company.
The group, set to become Europe's second largest fertilizer producer behind Norway-based Yara International, should have a weight of 1.45% in the MSCI Poland index and 0.21% in the MSCI Emerging Europe index, the bank calculated.
ZAT intends to create Grupa Azoty - the brand name of which it already uses for marketing purposes - having last week sealed an 83.7% stake in Polish nitrogen fertilizer producer Zaklady Azotowe Pulawy (ZAP) following a share swap offer.
Earlier on Monday, ZAT said it was planning by mid-February to tender for the 16.3% of ZAP it does not own.
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