Altus sets share price at PLN 9.50

Altus TFI set the price of shares for an upcoming IPO at PLN 9.50 per share. A total pool of 16.38 million new shares is to be sold, and an additional tranche of 2 million existing shares. At the announced issue price, the total value of the IPO should reach PLN 174.6 million. In the run up to the IPO, interest in Altus TFI shares was high. Thirty institutions expressed interest in purchasing shares, mainly OFE retirement funds, TFI’s and the European Bank for Reconstruction and Development, which is set to purchase 20 percent of the shares. The vast majority of shares will go to institutional investors. The other pool of existing Altus TFI shares, numbering 40.92 million, are subject to a 12M lock-up, which may change after new M&A deals come to terms.