Multimedia Polska owners to sell stake in IPO
May 15, 2014
Multimedia Polska SA owners seek to raise as much as 948.3 million zloty ($310 million) from the sale of Poland’s third-largest cable TV operator in the country’s biggest initial public offering since December 2013.
M2 Investments, controlled by Tomasz Ulatowski and Ygal Ozechov, as well as Tri Media Holdings, Dunaville Trading and Collegium Anetta Kolasinska i Wspolnicy have set the maximum price for retail investors in the sale of 45.2 million shares, or a 49 per cent stake, at 21 zloty per share, the company said in a IPO prospectus.
Multimedia will return to public trading after its shareholders delisted it from the Warsaw Stock Exchange in 2011, taking advantage of low valuation and starting a search for an industry investor. In 2012, Multimedia hired JPMorgan Chase & Co. to help it find a buyer and dropped the plan the same year.