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The Warsaw Voice » Business » June 27, 2014
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Altus TFI sets IPO price at PLN 9.50
June 27, 2014   
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Investment fund group Altus TFI set the issue price in the IPO of 16.38 million new F-series shares and 2 million existing shares at PLN 9.50, the company said in a statement.

The issue price puts the total value of the IPO at PLN 174.6 million, Altus added in a separate press statement.

In the bookbuilding, demand exceeded supply three times, with bids coming from over 30 institutions - above all pension funds OFE, investment funds TFI and the European Bank for Reconstruction and Development, the statement said.

The EBRD will take up to 20% of the shares offered, Altus said a few days ago.

Altus wants to use the IPO proceeds to take over other investment fund managers (TFI) in Poland in the coming 12-24 months and is already analyzing two potential TFI transactions, the fund said in the issue prospectus out earlier in June.
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