ITI share issue about to close but will it be a success?

Today, the public offer of the ITI media group will close. The majority of analysts are now voicing doubt that it will be a success. This has been the largest share issue on the Warsaw Stock Exchange (WSE) for at least two years. The share price, as estimated by analysts from most broker houses, range from between zl. 4 and zl. 10, which is much lower than the initial share price set at between zl. 9.75 and zl. 14.00. Only analysts from CA IB and the BRE Bank, which are acting as the offeror and sub-issuer, expect the shares to be worth between zl. 13.85 to zl. 16.46. The total number of shares sold could exceed 197.5 million. If the issue is as successful as is hoped, ITI would be entitled to join the WIG 20 index, the list of the top 20 companies traded on the WSE. ITI's A series shares were earlier sold on the Luxemburg stock exchange, where their price was far below the issue offer, reaching just zl. 6.94 apiece. (Puls Biznesu, p. 5) M.T.