Alumetal debuts on WSE

Aluminum manufacturer Alumetal is going public on Thursday, with an initial offer of 8,376,500 shares, sold at PLN 35 apiece, bringing the total value of the IPO to PLN 293 million. The company assigned all the stock it offered, with demand exceeding the offer by 27.86 percent. Institutional investors were assigned 90 percent of the entire stock. Alumetal is no. 1 aluminum alloy producer in Poland and CEE, and the fourth in Europe. In 2013, the group had PLN 1.015 billion in revenue, with EBITDA at PLN 54 million and net profit at PLN 35.8 million.