CEE Equity

In one of the liveliest weeks for Polish IPOs for years, Raiffeisen Polska’s flotation was pulled, debt collector GetBack priced its listing at the bottom of the range, and Play Communications, the mobile phone company, achieved a covered book on the market’s biggest IPO for five years.

The IPO of Play Communications, Poland’s second largest mobile network operator, is covered at its base size, three working days into the bookbuild.

Shares in Waberer's International, the Hungarian haulage firm, closed 0.5% above their offer price when they began trading in Budapest on Thursday, after the company restructured its IPO during bookbuild due to weakened investor sentiment towards east European issuers.

GetBack, the Polish debt collection company, has priced its Warsaw IPO at the bottom of the range, in a further sign of the variety of outcomes in the present flotation season.

Hungarian haulage firm Waberer’s International priced its Huf22.6bn (€73.1m) IPO today after slashing the amount of secondary shares on account of tepid demand, though the bookrunners said the outcome was favourable in the end.

Raiffeisen Bank Polska’s IPO on the Warsaw Stock Exchange, which kicked off on Thursday to raise up to Z947.8m (€224m), is expected to be a mainly local affair, said bankers close to the deal.

The bookrunners on Polish debt collection agency GetBack’s Z1.1bn (€259m) IPO in Warsaw are marketing the deal at an eye-popping discount to its closest peer.

Waberer’s International, the Hungarian haulage firm, launched a Huf73.7bn (€238m) IPO on the Budapest Stock Exchange on Monday, offering shares at a chunky discount to its US peers.

Raiffeisen Bank International (RBI) began gauging investor interest for the IPO of its Polish unit on Monday, via Citigroup and its own investment bank as leads.

Shares in Mavi Jeans, the Turkish maker of designer denim wear, closed 3.5% higher following its stock market debut on Thursday, after the company priced its TL744.4m ($211m) IPO at the bottom of its price range on Monday.

On Wednesday evening, Indigo Partners, the private equity group, came to market to offload its entire 18.7% stake in Wizz Air Holdings, the London-listed Hungarian low-cost airline, through an accelerated bookbuild that was covered inside an hour.

Mavi Jeans, the Turkish maker of designer jeans, has published the prospectus for what could be the largest Istanbul IPO for four years, according to Dealogic.