Diagnostyka Soars in Warsaw Bourse’s First IPO This Year
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Diagnostyka SA’s shares surged in the Polish laboratory operator’s Warsaw debut, signaling a solid start for one of Europe’s biggest initial public offerings so far this year.
The firm’s stock closed 24% above the IPO price at 130.02 zloty, implying a market valuation of 4.4 billion zloty ($1.1 billion). Diagnostyka’s IPO priced at 105 zloty apiece, which was at the top end of a marketed range, to raise about 1.7 billion zloty for owner Mid Europa Partners. It’s been the best debut on the Warsaw bourse since Answear.com closed 30% above its IPO price four years ago.