Will the train enter the stock exchange? PKL is considering a public offering at the beginning of the year

Polskie Koleje Linowe (PKL) is considering conducting an initial public offering on the Warsaw Stock Exchange in the first quarter of 2026, Bloomberg reported, citing unofficial information.

“The company and its key shareholder, PFR SA, are working with Erste Group Bank AG, PKO Bank Polski SA and mBank SA on a potential debut, said people who asked not to be named due to the private nature of the information. The offering will include new and existing shares and may bring over PLN 100 million ($27 million),” the agency wrote.

As Bloomberg's sources emphasized, no final decision has been made regarding the IPO, but the date and size of the offering may change.

Representatives of Erste, PKO BP, mBank and PKL refused to comment.

“The PFR representative confirmed that he is considering options for PKL, including an IPO. The state-owned controlling stake will be maintained, and consultations with local stakeholders will be held to assess the impact of the debut, the representative said in an e-mailed statement,” it was further written.

At the end of October, the Polish Development Fund (PFR) announced in a statement sent to PAP that it was analyzing development scenarios for Polish Cable Railways, but assured that it would maintain full control over the company.

The mayor of Zakopane, Łukasz Filipowicz, warned then that a possible stock exchange debut could be perceived as a sale of property and cause opposition from the local community. As he emphasized, the city of Zakopane today has only a symbolic share in PKL – about 0.03 percent. action, together with other communes of Podhale.

PKL currently owns cable cars and ski lifts to Kasprowy Wierch, Gubałówka, Butorowy Wierch, Jaworzyna Krynicka, Palenica in Szczawnica, Mosorny Groń in Zawoja and Góra Żar in Międzybrodzie Żywiecki.

In 2018, the company's shares were purchased by the Polish Development Fund. (PAP Business)

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