April 25, 2018 / 1:10 PM / a month ago

Polish Danwood puts IPO on hold amid unsatisfactory pricing

WARSAW (Reuters) - Enterprise Investors (EI) has put on hold the initial public offering of Polish housebuilder Danwood Holding (IPO-DWH.WA) as the price investors were ready to pay for its shares did not reflect the company’s fundamental value, Danwood said.

Danwood Holding said earlier this month that private equity fund EI planned to offer up to 20 million shares representing up to 50 percent of Danwood share capital and could additionally offer up to 4 million shares.

    The maximum price was expected at 15 zloty per share.

    Enterpise Investors bought Danwood in 2013 from Polish construction firm Budimex (BDXP.WA) for around 240 million zlotys (50 million pounds).

    Reporting by Agnieszka Barteczko; Editing by Marcin Goclowski

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