(Bloomberg) — E-commerce platform Allegro raised about 9.2 billion zloty ($2.3 billion) in Warsaw’s largest-ever listing after selling more shares than planned thanks to strong demand for technology-related stocks in Europe.
Allegro sold 213.5 million shares at 43 zloty each, the top end of a marketed range, the company said in a statement Tuesday. On Friday, the group increased the total deal size by 14%.
The company raised 1 billion zloty by selling 23.3 million new shares, while the remainder came from Allegro’s private equity owners Cinven, Permira and Mid Europa Partners. The stock is set to start trading on Oct. 12.
If the underwriters exercise in full their option to sell more shares from the buyout firms, the size of the offering will increase to $2.7 billion, with 24% of the share capital available for trading. Allegro’s IPO is the biggest on record for the Warsaw bourse,