WP IPO worth up to PLN 550 mln

Polish online media group Wirtualna Polska set the maximum price in its initial public offering (IPO) on the WSE at PLN 37 per share, which puts the value of the offer at up to PLN 548.4 million, the holding informed. WP plans to debut on the WSE around May 8. It expects to raise PLN 80-100 million from the sale of new shares, 50-80 million of which will be spent on potential acquisitions. The final price of both new and existing shares will be published by April 24. Individual investors can subscribe for the shares from April 15 to April 22.