ECM plans to raise EUR 88 mln in IPO

Czech property developer ECM Real Estate Investments expects to raise at least EUR 88 mln through an initial public offering (IPO) to finance expansion in Russia and in its home market. ECM is intends offer 1.275 million new shares along with 315,000 existing shares priced at a maximum of EUR 55 each, the company said in a briefing in Prague.

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