R22 sets maximum IPO price at PLN 23 per share

Internet hosting and web domain provider R22 set the maximum price in its IPO at PLN 23 apiece and will offer up to 3.5 million new issue shares along with up to 1.7 million shares sold by current shareholders, the company said in the issue prospectus. The company hopes to raise PLN 80 million from the offering and plans to spend it on bridge debt repayment and acquisitions, among others. Subscriptions for retail investors will run through December 4-13, while institutional investors will be able to subscribe between December 15-19. R22 plans to debut on the WSE on December 28.