Canal Polska Sets Maximum Price in Warsaw IPO

WARSAW, Nov 3 Reuters Polish payTV platform CANAL Polska set its maximum price in an initial public offering IPO at 60 zloty 15.22 per share ahead of its planned debut on the Warsaw stock exchange on Nov. 23, it said in a statement on Tuesday.

U.S. television and broadband company Liberty Global and Polish broadcaster TVN Media, owned by U.S. group Discovery, plan to sell their stakes in the company. Liberty Global has a 17 shareholding and TVN holds 32.

French media group Vivendi, which owns 51 of Canal Polska, is not selling its shares in the offering.

The maximum price set means shares offered will be worth 1.297 billion zloty 329.13 million. Book building will last until Nov. 9.

Last year Canal Polska suffered a fall in its net profit to 88 million zloty from 136 million zloty a year earlier, but its revenues rose to 2.29 billion from 2.16 billion in 2018.

The Warsaw stock exchange hosted Europes biggest IPO last month when shares in Polish ecommerce group Allegro leapt more than 60 on their debut, giving the company a market value of almost 19 billion.

1 3.9407 zlotys

Reporting by Marcin Goclowski; Editing by Edmund Blair

Source Reuters

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