Ready to move
TVN SA, whose shares are set to launch on the WSE this week, ultimately decided it would put 15,912,202 shares (24.18 percent of the company's capital) up for offer. The price was initially proposed at between zł.26.50 and zł.33.50, but has now finally landed toward the upper boundary, at zł.32.
At first, TVN planned to offer 2,392,500 shares in the individual investors' tranche and 13,557,500 in the institutional one. In the end, TVN offered 3,978,051 shares in the individual investors' tranche, which constitutes 25 percent of the total value on sale, and 11,934,151 shares in the institutional investors' tranche, which in turn is 75 percent of the offer. In the foreign sub-tranche, 52.50 percent of the total values was sold and 22.50 percent in the domestic one.
November 29 was the deadline for the individual investors to register for the shares, whereas institutions took their turn on December 1 and 2.
The shares are being floated by N-Vision BV, which is part of the ITI Group and owns 39.2 million of TVN's shares (59.57 percent of the capital and votes). The remaining part of the shares is owned by Strateurop International (30.43 percent) and TV Tech Investment (10 percent). (A.B., ISB)
At first, TVN planned to offer 2,392,500 shares in the individual investors' tranche and 13,557,500 in the institutional one. In the end, TVN offered 3,978,051 shares in the individual investors' tranche, which constitutes 25 percent of the total value on sale, and 11,934,151 shares in the institutional investors' tranche, which in turn is 75 percent of the offer. In the foreign sub-tranche, 52.50 percent of the total values was sold and 22.50 percent in the domestic one.
November 29 was the deadline for the individual investors to register for the shares, whereas institutions took their turn on December 1 and 2.
The shares are being floated by N-Vision BV, which is part of the ITI Group and owns 39.2 million of TVN's shares (59.57 percent of the capital and votes). The remaining part of the shares is owned by Strateurop International (30.43 percent) and TV Tech Investment (10 percent). (A.B., ISB)
