* Sets maximum price in public offering at 21 zlotys/shr
* Final offer price to be set on May 28
* Plans to offer all of its profits as dividends (Adds details on firm's finances and Poland's cable market)
WARSAW, May 15 Multimedia Polska, Poland's No.3 cable operator, said on Thursday the maximum price in its upcoming public offer was set at 21 zlotys per share, valuing the shares offered at up to 950 million zlotys ($311 million).
Multimedia wants to return to the Warsaw bourse on June 11 in the largest Warsaw offer thus far planned for this year, confirming earlier Reuters reports.
Individual investors will be able to sign up for the offer between May 16 and 28, while for institutional investors it is from May 29 to June 2. The final offer price is to be set on May 28.
The group, which controls 18 percent of the Polish cable market, returns to the Warsaw bourse three years after it was delisted and after attempts to find an investor failed over price.
Multimedia wants to put on offer up to 49.2 percent of its existing shares and plans to offer all of its annual profits as dividends to shareholders.
The group's revenue rose 2.0 percent last year to 699 million zlotys and net profit jumped 44 percent to 71 million.
The operator, which provides digital television, broadband, fixed-line and mobile services to around 826,000 clients in Poland, is controlled by co-chairmen Tomek Ulatowski and Ygal Ozechov, who delisted the group in 2011.
A subsequent search for a buyer failed and Multimedia itself lost out on takeover deals that could have lifted it to the top of a market now led by Liberty Global's local unit UPC.
Together with UPC and Vectra - the market's No.2 - Multimedia controls 70 percent of Poland's cable market spanning around 400 players. ($1 = 3.0557 Polish Zlotys) (Reporting by Adrian Krajewski; Editing by Muralikumar Anantharaman)