Plaza Centers, the eastern European property developer, raised £154m in an initial public offering yesterday.
The offer price was set in the middle of the indicative price range at 180p, valuing the Budapest-headquartered company at £514.3m.
The offer consisted of 85.71m shares and will result in a free float of around 30% of the company.
Plaza aims to build as many as five malls a year, primarily in central and eastern Europe and India.
References: Financial Times 28/10/06 page 16
