Tower Investments sets issue price. Moving to WSE

Listed on small-cap, alternative market developer Tower Investments set the price for its planned issue of 500k shares at PLN 45 apiece, the company said in a market filing. Retail investors will be offered 100k shares, while institutional ones will be able to buy 400k shares. The new issue will be accompanied by moving the company’s listings to the WSE main trading market. The company hopes to raise PLN 37.2 million net on the issue and plans to spend it on acquiring new plots and mixed-use schemes. At end-Q3, the company had PLN 10 million net profit.