WARSAW: Poland's leading web portal, Wp.pl, plans to debut on the Warsaw bourse with an initial public offering (IPO) worth around 300 million zlotys ($80.5 million), daily Puls Biznesu quoted its sources as saying.
The group, controlled by venture fund Innova Capital, wants to offer 15 percent to 20 percent of existing shares and issue another 15-20 percent of new shares as part of the IPO. According to Puls Biznesu, Wp.pl's issue prospectus is already with the regulator.
Neither Wp.pl nor Innova were immediately available for comment. Innova's Grupa O2 bought Wp.pl from Poland's No.1 telecoms operator Orange Polska a year ago for 383 million zlotys. Another venture fund, MCI Management, owns a fifth of Grupa O2.
Wp.pl, which drew almost 10 million users in December last year, competes for market's dominance with German media group Axel Springer's Polish unit Onet.pl.
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