Warsaw, Poland, June 6--Poland's leading ceramic-tile producer, with 26 percent of the market, has released a new schedule for its public offer, according to which the firm will enter the bourse on June 24.
Last month Opoczno postponed its debut (originally scheduled for May 25) on the Warsaw Stock Exchange (WSE) over worries of being overshadowed by the IPOs of oil firm Grupa Lotos and gas monopoly Polish Oil and Gas, according to the Warsaw Business Journal
Opoczno set the price range for its IPO at z³.54.70 to z³.69.90 per share, putting the company's worth at between z³.906 million and z³.1.158 billion. Earlier, owners Enterprise Investors and Credit Suisse had estimated Opoczno's value at as much as z³.2 billion, but analysts said that assessment was high in relation to other market players, and valued the company at about z³.1 billion.
Bookbuilding began last week for 16.25 million shares - 60 percent of which was divided into tranches for individual investors, Polish institutional investors and foreign institutional investors at 10, 20 and 30 percent of the offer respectively. The remaining 40 percent will be sold if demand is sufficiently high.
Opoczno posted revenues of z³.400 million in 2004, and will be the fourth ceramic-tile producer listed on the WSE after Cersanit, Ceramika Nowa Gala and Polcolorit.
