Interia Web portal sets min. offering price at zl. 21, valuing it at $33 million

Interia, the first Eastern European Internet portal set to debut on the stock exchange, set its minimum offering price at zl.21 per share, with the final price to be determined in the book-building process. Interia's management hopes for a much better price, which would allow the company to obtain the planned $10 - $20 million from the initial public offering (IPO). The new issue will constitute 25% of Interia's equity, valuing the company at $33 million at the zl.21 share price. Interia is Poland's third largest Web portal, behind the Internet pioneers onet.pl and Wirtualna Polska. (Gazeta Wyborcza, p.25; Reuters) T.J.