WARSAW, June 23 Poland's Alumetal will sell shares at a maximum 44 zlotys each in its initial public offering (IPO), raising up to 369 million zlotys ($120 million) for the majority owner of the aluminium parts maker.
Alumetal's main shareholder, Poland-based private equity fund Abris, set the maximum IPO price on Monday.
Abris plans to sell its entire 56 percent stake when Alumetal makes its debut on the Warsaw bourse at the end of this month or the beginning of July.
Sources told Reuters in January the IPO was estimated to be worth between 200 million and 500 million zlotys.
Alumetal, which has an annual capacity of 165,000 tonnes, produces components mostly for the automobile industry. It sells almost half of its output abroad, to clients including Germany's Volkswagen.
Its revenue rose by more than a quarter in the first three months of this year to 311.4 million zlotys and net profit almost tripled to 17 million zlotys, thanks to a pick-up in European car production and sales.
Alumetal's direct Polish rival Grupa Kety has a market capitalisation of 2 billion zlotys.
UniCredit is the lead manager on the IPO, aided by PKO BP and Banco Espirito Santo. ($1 = 3.0722 Polish Zlotys) (Reporting by Adrian Krajewski; Editing by Erica Billingham)