Rafako sets share price

Polish boiler producer Rafako sets its IPO price at PLN 6.10 a share, the media reported. The total value of the offer will reach PLN 93.5 million. The book-building process was held between July 9 and 15, and the company stressed that demand was higher than expected. The new shares offered account for 18.95 percent of the company's equity capital. Rafako is planning to finance existing and future projects in its portfolio as well its R&D activity. Subscriptions from institutional investors will be collected from July 16 to 20.