Griffin Premium confirms IPO price at PLN 5.7

Griffin Premium Real Estate has set the final issue price in its IPO at PLN 5.7, confirming earlier media reports. The maximum price set in the book building process was set at PLN 6.5. The company also announced how many shares will be floated. “The offering comprises issuance of 22,201,267 new shares, raising PLN 126.5 million gross proceeds, which will be used to expand the company’s portfolio of properties,” the press release read. Apart from that, 59.11 million existing shares and additional 7.86 million shares could be sold in the over-allotment option, which would put the free float at 57 percent of company's shares. Griffin Premium Real Estate expects to debut on the WSE on April 13.