Griffin Premium to float up to 74% of stock

Real estate company Griffin Premium will sell between 51,2-74,3 percent of its shares into free float, including up to 22.2 million new shares and up to 59.1 million existing ones. Depending on the offering results, the value of the transaction will be between PLN 562-736 million. The maximum share price has been set at PLN 6.5 million apiece. The max price would value the offer at gross PLN 144 million. Book building process will run through March 15-28. Shares should be floated on the WSE by April 13. Griffin said it expects to pay 65 percent of post-tax profits to shareholders in dividends.