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Poland's Play final IPO price likely to be 36 zlotys/share - sources
July 13, 2017 / 1:44 PM / in 5 months

Poland's Play final IPO price likely to be 36 zlotys/share - sources

WARSAW, July 13 (Reuters) - Play Communication’s final price for its initial public offering will most likely be set at 36 zlotys per share, market sources said on Thursday.

The book building is due to close on Thursday.

Play Communications, the owner of Poland’s second biggest mobile network operator Play, declined to comment.

The company said earlier in July that it sought to raise up to 5.2 billion zlotys ($1.40 billion) in the biggest flotation in Warsaw since 2011.

The mobile operator, owned by Greek fund Tollerton and Icelandic investor Novator, plans sell up to 121,572,621 existing shares, or 48.6 percent of its total equity, including the over-allotment option. The company will not issue new shares.

Initially the price range was set up at 34-44 zlotys per share, but was then narrowed to 36-38 zlotys. ($1 = 3.7044 zlotys) (Reporting by Agnieszka Barteczko and Anna Koper. Editing by Jane Merriman)

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