Integer raises its buyback price

WSE-listed postal operator and Advent International fund increased the price they offer to buy back 70 percent of Integer shares to PLN 49 from initial PLN 41.1 apiece. Advent also raised its offer for Inpost to PLN 11 per share from the previous PLN 9.5. The new prices put the offer at PLN 266 for Integer and PLN 110 million for InPost. The date of the tender offer was also extender to April 21 (Integer) and April 24 (InPost). Back in February, Advent International private equity fund announced that it wants to buy all of the free float shares of Integer, representing a 70 percent stake in the company and delist it, but only if the tender goes through. If not, the company warned that it might even face bankruptcy if the tender offer is not successful as it has millions in outstanding debt. Advent announced that if the buyback goes through it will invest some PLN 500 million into the company. On Tuesday, Integer stock was trading at PLN 48.24, while InPost was at PLN 10.77 apiece.  Company's founder, Rafał Brzoska will retain his 30 percent stake in Integer.