MaxCom sets IPO price at PLN 55 per share – reports

According to the Polish Press Agency (PAP), phone maker MaxCom has set the IPO price at PLN 55 apiece. Reduction at that price level should come to 10 percent. The maximum price in the book building process was set at PLN 72. According to the sources, OFEs were not interested in the IPO. The company is selling 864,000 shares in the IPO, with 660k new shares and 204k existing one. The company plans to develop new models of classic phones and smartphones, including innovative smartphones for seniors with the money raised from investors. Additional capital will also allow for further foreign expansion on the European markets.