Atal to raise PLN 160 mln
12:25
Real estate developer Atal plans to raise PLN 160 mln via an issue of up to 6.5 mln new shares, which accounts for 16.79 percent of the company's stock capital. The company said in its initial public offering (IPO) prospectus that it wants to debut on the WSE in mid-June.
Currently, the sole shareholder of the company is Juroszek Investments, controlled by Zbigniew Juroszek, founder and the CEO of Atal. The company will allocate at least 85% of the shares offered to institutional investors and remaining shares to retail investors.
Atal plans to spend 50% of the proceeds on buying land plots and the remaining 50% on financing development projects.
