|Energa is Poland's third-largest energy firm|
COURTESY OF ENERGA
Major Polish utility Energa has announced the details of its initial public offering, which puts its value at zł.2.41 billion. The State Treasury will sell 141,522,067 shares (a 34.18 percent stake) in the company at zł.17 apiece.
The final stock price is lower than the earlier announced maximum price of zł.20.
As the number of subscriptions from individual investors was high, the selling shareholder has decided to increase the number of shares offers to that group to 24,369,952. Large individual investors were offered 7,076,103 shares and institutional investors will be able to buy 95,923,806 shares.
Subscriptions for institutional investors started on Wednesday and will end on December 6. Energa's debut on the Warsaw Stock Exchange is expected to take place on December 11.
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