SkyEurope set for bourse take-off

The hugely successful airline is planning to raise up to EUR 130 (zł.510) million in its initial public offer. The company's issue prospectus shows that it will also float shares on the Vienna stock exchange when they go on sale in Poland.

The firm plans to offer up to 10 million new shares, and shareholders are being offered up to 1.8 million existing shares. Shareholders have an option to sell up to an additional 1.18 million existing shares to cover any over-allotments, for a total of 12.98 million shares.

The offer price was expected to be between EUR 5-10 (zl.20-40) per share, according to the prospectus.

"We will apply to the Vienna Stock Exchange and the Warsaw Stock Exchange for listing of our shares under the trading symbol 'SKY' with trading expected to commence on or about September 27, 2005," the prospectus said.

(Reuters)