GGE seeks PLN 180 million via IPO

Slovak energy company Grafobal Energy Group (GGE) plans to raise up to PLN 180 million in an initial public offering on the Warsaw Stock Exchange, according to the company’s recently published issue prospectus. The company will issue 5 million new shares in the IPO. Their maximum price was set at PLN 5 apiece. Book-building is scheduled for February 7-10. Subscriptions will take place between February 11-14. The shares are expected to be listed on the WSE starting from March 21. GGE plans to spend the issue proceeds on the acquisition and  financing of new projects in Central and Eastern Europe.