Poland sets PHN share price at 22 zlotys in IPO

WARSAW Tue Feb 5, 2013 1:28am EST

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WARSAW Feb 5 (Reuters) - The Polish treasury set the price in the initial public offering of real estate group PHN at 22 zlotys per share, below the targeted maximum price and valuing the IPO at 239 million zlotys ($77.7 million), PHN said late on Monday.

Earlier on Monday, two sources told Reuters that Poland had closed books in the PHN IPO at 22 zlotys per share, below the maximum level of 26 zlotys set for individual investors.

PHN added in its statement that the treasury ministry, which oversees state assets in Poland, set the final number of shares offered at 10.846 million.

Of that amount, 9.2191 million shares will be offered to institutional investors, while the rest will be sold to individual investors. ($1 = 3.0748 Polish zlotys) (Reporting by Marcin Goettig; Editing by Chris Gallagher)

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