Griffin Premium sets IPO price at PLN 5.7 - media

Griffin Premium Real Estate, has set the final price in its initial public offering (IPO) at PLN 5.7 per share, according to market sources quoted by Polish media. The book building process ended on Tuesday in which the maximum possible price was set at PLN 6.5. Griffin Premium RE will sell between 51.2-74.3 percent of its shares, including up to 22.2 million new shares and up to 59.1 million existing ones. Additionally, the existing shareholders have pledged to sell up to 7.9 million of shares in the over-allotment option. They might also decide to increase the number of sold shares by the maximum of 26,786,383. Depending on the offering results, the value of the transaction will be between PLN 562-736 million. The price will be announced on March 29, the first day of trading on the Warsaw Stock Exchange is scheduled for April 13.