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Publishing

UPDATE 1-CANAL+ Polska plans IPO on Warsaw stock exchange

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WARSAW, Oct 22 (Reuters) - Polish pay-TV platform CANAL+ Polska plans to conduct an initial public offering in Warsaw and debut on the Polish stock exchange, it said in a statement on Thursday.

U.S. television and broadband company Liberty Global and Polish broadcaster TVN Media, owned by US group Discovery, are looking to sell their stakes in the company. Liberty Global has a 17% shareholding while TVN holds 32%.

French media group Vivendi, which owns 51% of Canal+ Polska, is not selling its shares in the offering.

“As the Polish economy continues to expand and the demand for entertainment among Polish households rises, we expect to see an increasing desire for premium pay-TV services,” Edyta Sadowska, President and CEO of the company said in a statement.

The Warsaw stock exchange hosted Europe’s biggest IPO earlier this month when shares in Polish e-commerce group Allegro leapt more than 60% on their debut, giving the company a market value of almost $19 billion. (Reporting by Marcin Goclowski: editing by Carmel Crimmins)

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