Bloomberg: Biggest Polish Web Portal Plans IPO to Raise Funds for Takeovers

(Bloomberg) — Wirtualna Polska Holding SA, the owner of Poland’s largest web portal, plans to hold an initial public offering in Warsaw in the second quarter of 2015 to raise funds for acquisitions and debt repayment.

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The company plans to sell as much as 100 million zloty ($27 million) of new shares, while private equity fund Innova Capital Sp. z o.o., which owns 68 percent of Wirtualna, plans to offer a further 23.5 percent stake, it said in an e-mailed statement on Monday.

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