Allegro valued at $11.2bn in in Warsaw IPO

Poland-based e-commerce platform Allegro raised about 9.2 billion zloty ($2.3 billion) in Warsaw’s largest-ever IPO after selling more stock than anticipated on Tuesday, Bloomberg reported.

Allegro sold 213.5 million shares at 43 zloty each.

The IPO values Allegro at about $11.2 billion, meaning it should overtake computer-game maker CD Projekt SA as the Warsaw market’s biggest company.

Retail investors were allocated 9.3 million shares in the IPO, the company said.

Bloomberg reported that Allegro raised 1 billion zloty by selling 23.3 million new shares with the remainder coming from Allegro’s private equity owners Cinven, Permira and Mid Europa Partners.

The stock is due to start trading on October 12.