AFI Europe joins Warsaw rush at discount to NAV

Joint global coordinators and joint bookrunners Deutsche Bank and ING launched a Zl676m (Eu171m) Warsaw initial public offer for property firm AFI Europe on Monday and indicated a price that gives room for a substantial discount to its main listed comparable. Bookbuilding lasts just a week but with most demand expected to come from Polish institutional investors, bankers expect that to be ample time to complete the deal.