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The Warsaw Voice » Business » June 25, 2014
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EBRD to invest in forthcoming IPO of Altus TFI
June 25, 2014   
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The European Bank for Reconstruction and Development will take up to 20% of the shares offered in Altus TFI fund manager IPO on Warsaw Stock Exchange, paying up to PLN 50 million, Altus said in a press statement.

As a result, the EBRD will end up with a 5-10% stake in Altus, the fund group said.

The ongoing Altus IPO offer includes up to 16.38 million new F-series shares and up to 2 million existing shares from select shareholders. New shareholders will end up with just over 30% of the company. With the maximum price set at PLN 10.5, the value of the offer may amount to 193 million.

Bookbuilding in the institutional tranche runs until June 25. Share allocation will take place by July 7.

Altus is a privately held mutual fund and asset management company in Poland with more than PLN 5 billion of assets under management across 36 funds.
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