EME Strategy: Allegro’s IPO – priced at the top of the range
Today (25 September), Bloomberg reported that Allegro’s deal is to be priced at the top of the range (PLN 43/share), and the number of shares is to be 14% higher than assumed initially, which raises the deal value from the c.USD 2.1bn assumed in our previous flash note, to USD 2.7bn. Consequently, we have updated our passive fund flows estimates and believe that the stock may be included in the stock indices under the extraordinary revision rules. We stress, however, that our fund flows estimates refer to passive flows only, as active flows are highly unpredictable, given the possibly short period between the IPO and the likely inclusions in the indices.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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