Etos sets maximum IPO price at PLN 17.5 a share

Etos, owner of fashion brand Diverse, has reduced the number of shares in its IPO to 8.92 million from 13.51 million. The maximum price of a share was set at PLN 17.5, according to a supplement to the prospectus published on Tuesday. The proposed number of shares account for 33 percent of the firm's seed capital. The company began a public offer of its shares yesterday. The company's debut on the WSE is scheduled for May 22. Etos is a fashion retailer. It runs the Diverse chain of stores, which has been present on the Polish market since 1993.