Polish mobile operator Play says plans Warsaw IPO

Polish mobile operator Play says plans Warsaw IPO

WARSAW: Polish mobile phone operator Play plans an initial public offering of existing shares on the Warsaw stock exchange, it said on Monday.

The company hired J.P. Morgan, BofA Merrill Lynch and UBS Investment Bank as global coordinators, as well as Bank Zachodni WBK and DM PKO BP as co-offering and book building co-managers.

Play said it has 27.6 percent of the Polish mobile telecommunications market. It added that its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) margin stood at 35.7 percent at the end of the first quarter.

Play also said it plans to pay a 650 million zloty (US$173.05 million) dividend in the second quarter of 2018.

Play is owned by Tollerton Investments Ltd and Telco Holdings.

(US$1 = 3.7562 zlotys)

(Reporting by Marcin Goclowski, editing by Louise Heavens)

Source: Reuters