Plaza Centers, a developer of shopping malls in Eastern Europe, announced on Friday it has set a price of 180 pence per share for its initial public offering to institutional investors in London, valuing the company at 拢514.3 mln (EUR 766.6 mln). The offer consists of 85.71 million new ordinary shares (excluding a 10% over allotment option). About 30% of the shares will be available to the investing public when unconditional trading starts on November 1. UBS is the only book runner and stabilisation manager for the IPO.
Plaza Centers, a developer of shopping malls in Eastern Europe, announced on Friday it has set a price of 180 pence per share for its initial public offering to institutional investors in London, valuing the company at 拢514.3 mln (EUR 766.6 mln). The offer consists of 85.71 million new ordinary shares (excluding a 10% over allotment option). About 30% of the shares will be available to the investing public when unconditional trading starts on November 1. UBS is the only book runner and stabilisation manager for the IPO.
In early October Plaza confirmed it was planning a flotation in London to raise between EUR 200 mln to EUR 250 mln to develop shopping malls in Eastern Europe and India. Plaza is a subsidiary of Israeli public company Elbit Medical Imaging. The flotation comes after a summer recess in the IPO market that set in following rocky listings for several property funds.
