WARSAW: Polish largest web portal plans to hold an initial public offering in the second quarter of 2015 to raise funds for acquisitions and debt repayment. The company plans to sell as much as 100 million zloty of new shares, while private equity fund Innova Capital Sp. z o.o., which owns 68 percent of Wirtualna, plans to offer a further 23.5 percent stake.
The Polish IPO market has livened up in past weeks as stock prices climbed on the Warsaw Stock Exchange and interest rates fell to record lows. Billionaire Leszek Czarnecki’s Idea Bank SA is holding an 864 million-zloty IPO and MCI Management SA is offering a stake in its asset-management unit Private Equity Managers SA this month. Polish property developer Atal SA and German car-parts manufacturer Uniwheels AG in March announced plans to sell shares in Warsaw in the second quarter.
