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CDR - CD Projekt SA News Story

PLN256.2 0.0  0.0%

Last Trade - 15/01/21

Consumer Cyclicals
Large Cap
Market Cap £5.06bn
Enterprise Value £4.95bn
Revenue £129.7m
Position in Universe 8th / 779

UPDATE 1-Allegro IPO to value Polish e-commerce firm at $11 bln

Tue 29th September, 2020 11:14am
(Adds background, context)
    WARSAW, Sept 29 (Reuters) - Poland's Allegro has set its
initial public offering price at 43 zloty per share, it said on
Tuesday, valuing the e-commerce platform at $11.24 billion to go
top of the Warsaw Stock Exchange  GPW.WA  above video games
maker CD Projekt  CDR.WA .
    The company, which started more than 20 years ago as a
home-grown rival to eBay, plans to debut on the exchange on Oct.
    Allegro is expected to attract more companies to the
exchange, which has struggled to attract new listings and seen
turnover decline. 
    It will also change the profile of the bourse, which has
traditionally dominated by banks.
    Allegro plans to raise around 1 billion zloty ($256 million)
from the issue of more than 23 million of new shares and use the
proceeds to repay debt.
    Its shareholders will sell more than 190 million existing
shares which means the free float will amount to 21%.
    Owners Cinven, Permira and Mid Europa bought it the company
along with online portal Ceneo from South Africa's Naspers for
$3.25 billion in 2016.
    Its listing comes amid signs of a pick-up in the European
IPO market, after the COVID-19 pandemic curbed first-half
    Allegro is the most recognised e-commerce brand in Poland
and as of June had around 12.3 million active buyers in its
e-commerce marketplace.
    Its net profit rose to 290 million zlotys in the first six
months of this year from 196 million a year earlier.

    ($1 = 3.9039 zlotys)

 (Reporting by Marcin Goclowski; editing by Kim Coghill)
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