Idea Bank will float 31% of shares

Polish lender Idea Bank said in its prospectus that it is going to issue new and old shares, totaled to 30.7 percent of the firm's increased capital. The lender, controlled by Polish billionaire Leszek Czarnecki will sell 20 million new shares and 7 million the existing ones. As a consequence of floating the shares, Idea is planning to obtain a net profits of PLN 1 billion and part of the funds commit on acquisitions. The offer will be targeted to Polish individual and institutional investors.