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Polish commerce platform Allegro confirms IPO plans

WARSAW, Sept 14 (Reuters) - Polish commerce platform Allegro said on Monday it plans to raise around 1 billion zlotys ($266.54 million) from a new share issue as part of its initial public offering, which is expected to be the biggest debut on the Warsaw bourse for years.

The online marketplace, which competes with eBay and Amazon, also said it plans to use the proceeds to repay its outstanding debt in order to improve its net leverage.

In July sources said that Allegro’s owners - private equity funds Cinven, Permira and Mid Europa Partners - are pressing ahead with efforts to list the company in Warsaw in September. ($1 = 3.7518 zlotys) (Reporting by Agnieszka Barteczko; Editing by Muralikumar Anantharaman)

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