WARSAW Dec 12 Slovenian household appliance
maker Gorenje has failed to line up buyers for all the
shares on offer in a planned listing, three sources close to the
issue said on Thursday, with Slovenia's debt crisis helping put
Gorenje is planning an initial public offering on the Warsaw
stock exchange. Book-building was completed on Wednesday. The
sources told Reuters buyers had not been found for all the
shares in the issue.
"The books have not been fully covered. I'm not sure if any
Polish institutional investor would actually subscribe for the
shares. Even if some of them decide to do so, there is a
question mark whether it makes sense for the company to list in
Warsaw," one of the sources said.
Gorenje said in a statement sent to Reuters it was
"proceeding with the activities for listing on the Warsaw stock
exhange by the end of 2013". The book-runner, Polish brokerage
BZ WBK, declined to comment.
The Slovenian company had said it wanted to raise 45 million
euros from the Warsaw IPO and a parallel offer in Ljubljana.
(Reporting by Pawel Bernat; Editing by Christian Lowe)