EBRD considers buying 5-10% of Dino shares in the upcoming IPO

The European Bank for Reconstruction and Development (EBRD) may buy a 5-10 percent stake in retailer Dino in the ongoing IPO, company wrote in its prospectus. “Dino has obliged to make every effort to ensure that the share of the EBRD to be acquired in the offer amount to no less than 7.5 percent and no more than 10 percent of charter capital and the number of voting rights at the GM.” Two framework agreements with the EBRD have already been signed, stipulating conditions under which the purchase can be made, including the price. The EBRD has committed to a 180-day lock-up on the potential purchase. Dino's lead shareholder is selling an up to 49 percent stake in the firm at a price of up to PLN 33.5 apiece.