Polmos Lublin has finalised the pricing for its initial public offering (IPO). The privately-owned vodka maker said yesterday (7 February) that shares will be priced at PLN50 (US$16.1) per share. The original price range had been set at between PLN45 and PLN58 per share.

The offering of 1.5m new shares and 1m existing shares will have a value of PLN125m ($40m).

The IPO was heavily oversubscribed in the individual investors tranche. Institutional investors will place their offers by tomorrow, with Polmos Lublin making its debut on the Warsaw Stock Exchange this month.

Polmos Lublin plans to offer 2,870,412 ordinary A, B, C bearer and ordinary bearer shares and 1.5m ordinary E-series bearer shares in its IPO on the Warsaw Stock Exchange.

The company added that it projected its 2005 net profit to reach PLN18m, with sales forecast to hit PLN458m.