WP to launch IPO in Q2

Wirtualna Polska (WP), Polish web portal is going to launch an IPO in the second quarter of the current year and will apply for listing on the main trading floor of the Warsaw Stock Exchange.  The company reckons that it will earn PLN 80-100 million on the IPO, according to a press release. WP will issue new shares as well sell part of its existing shares, accounting for 23.5 percent of initial capital through European Media Holding, based in Luxembourg (selling shareholder), which is controlled by Innova Capital, the owner of WP. The IPO is planned for Q2, but it will be up to the "circumstances on the market." Wirtualna Polska is the first Polish web portal ever established.