Market finally appears satisfied with LPP's new share issue

According to Parkiet, clothing producer LPP's new shares issue price was set at zł. 265 per share which mean the company could secure zł. 50 million from the market. The minimum price was set at zł. 240, but LPP's current stock rose in value and ended the week on a new high of zł. 280. This was partially due to a statement from the company president Marek Piechocki who announced that the value of LPP's total shares should amount to between zł. 300 million and zł. 350 million by the end of the year. The final price was set according to book-building, which was conducted parallel with subscription of shares for small investors, for whom the company reserved 50,000 shares. "We will have over-subscription in this tranche and it would occur no matter what issue price was set," sources told Parkiet. (Parkiet, p. 4) M.M.