Play public offering.
Play Communications, the owner of Poland’s second biggest mobile network operator Play, plans to raise up to 5.2 billion zlotys ($1.40 billion) in an initial public offering in Warsaw, it said yesterday. The flotation would be the biggest in Warsaw since 2011, according to Warsaw Stock Exchange data. The mobile operator, owned by Greek fund Tollerton and Icelandic investor Novator, will sell up to 121,572,621 existing shares, or 48.6 percent of its total equity, including the over-allotment option. The company will not issue new shares. unchanged at 9.3 percent. That’s the lowest since March 2009, when unemployment was rising markedly following the global financial crisis. Over the month, the statistics agency said the number of people out of work fell by a modest 5,000 to 15.03 million. Hopes are high that the falling trend across the eurozone will accelerate in the months to come as the region’s economic growth appears to have picked up speed. The figures mask huge disparities across the region, but even in those countries where unemployment has been highest, notably Greece and Spain, there is an improving trend.