Netia starts subscription for 4.5 mln share debut on WSE

Beginning today until May 31 investors can subscribe to shares in fixed line phone operator Netia. In total the company wants to sell 4.5 million shares. The issue price has been fixed between zl. 110- zl. 150. The final price will be established by June 1 at the latest. The open offer includes 2.25 million shares and 1.9 million of Netia shares will be reserved for institutional investors. As for individual investors, they may buy 300,000 and 50,000 will go to the company's employees. Telecom company Telia will acquire the remaining shares and thereby control over 47% of votes in Netia. (Prawo i Gospodarka, page 15) A.Z.