Geo-Alliance gets going
Sole-bookrunner UniCredit opened the books for the $167m-$259m Warsaw IPO of Ukrainian oil and gas firm Geo-Alliance on Thursday. While several Ukrainian firms have already listed on the Warsaw Stock Exchange, Geo-Alliance is the first energy firm to do so and will hope to attract demand from regional CEE specialist funds and local long-only investors.
The deal involves the sale at $22.5-$30 each of 5m primary shares and 2.5m secondary shares plus a 1.125m secondary share greenshoe. It will put 30% of the company into free-float pre-greenshoe and 34% post-greenshoe.
The selling shareholder is Ukrainian Victor Pinchuk and his family who now own 100%
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