GTC sets new issue price at 7 zlotys per share

WARSAW Sat Jan 11, 2014 5:05am EST

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WARSAW Jan 11 (Reuters) - Warsaw-listed developer GTC said it had set the price of its share issue at 7 zlotys per share, higher than earlier signalled by market sources.

In a statement on Friday evening, GTC said investors would buy 31.94 million new shares, bringing the total gross value of the new issue to 224 million zlotys ($73.55 million).

The company was selling shares via accelerated book-building and planned to raise 40-60 million euros ($55-$82 mln), and planned to use the proceeds to reduce debt.

In Friday trading, GTC shares rose 3.3 percent to 7.23 zlotys. ($1 = 3.0454 Polish zlotys) ($1 = 0.7314 euros) (Reporting by Marcin Goettig; Editing by Mark Heinrich)

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