Canal+ Polska sets maximum price in Warsaw IPO at 60 zloty per share

WARSAW, Nov 3 (Reuters) - Polish pay-TV platform CANAL+ Polska set its maximum price in an initial public offering (IPO) at 60 zloty ($15.22) per share ahead of its planned debut on the Warsaw stock exchange on Nov. 23, it said in a statement on Tuesday.

U.S. television and broadband company Liberty Global and Polish broadcaster TVN Media, owned by U.S. group Discovery, plan to sell their stakes in the company. Liberty Global has a 17% shareholding and TVN holds 32%.

French media group Vivendi, which owns 51% of Canal+ Polska, is not selling its shares in the offering.

The maximum price set means shares offered will be worth 1.297 billion zloty ($329.13 million). Book building will last until Nov. 9.

Last year Canal+ Polska suffered a fall in its net profit to 88 million zloty from 136 million zloty a year earlier, but its revenues rose to 2.29 billion from 2.16 billion in 2018.

The Warsaw stock exchange hosted Europe’s biggest IPO last month when shares in Polish e-commerce group Allegro leapt more than 60% on their debut, giving the company a market value of almost $19 billion.

$1 = 3.9407 zlotys Reporting by Marcin Goclowski; Editing by Edmund Blair