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Poland's Zabka Eyes $1.7B IPO in Potential Boost for Warsaw Bourse

GDANSK/WARSAW, Oct 1 (Reuters) - Polish convenience store group Zabka plans to raise up to 6.45 billion zlotys ($1.67 billion) for selling shareholders in its initial public offering (IPO) this month, potentially the biggest IPO in Warsaw since 2020.

The company said on Tuesday it aimed to sell shares at between 20.0 and 21.5 zlotys each.

The sale could be a boost for the Warsaw market, which has lacked big IPOs in recent years. At the top of the range, Zabka's IPO would be Warsaw's biggest since online marketplace Allegro's IPO raised 9.2 billion zlotys in 2020.

Zabka said in its prospectus that an IPO would "benefit the Group by giving the Company access to the Polish and international capital markets in the event any future capital needs arise, including, in particular, in connection with funding any potential M&A transactions".

In the IPO, the Polish company's shareholders plan to offer up to 300 million shares, which are expected to start trading on Warsaw bourse on or around Oct. 17, following final pricing on Oct. 10.

Zabka said it did not intend to recommend paying dividends in the medium term as it believes "the investment of the earnings will generate tangible benefits for the shareholders of the company".

($1 = 3.8674 zlotys)

Reporting by Rafal Wojciech Nowak and Anna Koper; Additional reporting by Mateusz Rabiega, Anna Banacka, Adrianna Ebert; Writing by Mateusz Rabiega and Anna Koper; Editing by Louise Heavens and Mark Potter

Source: Reuters


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