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UPDATE 1-Milkiland prices IPO at 33.78 zlotys/share

Published 11/26/2010, 04:35 AM
Updated 11/26/2010, 04:36 AM

* Equivalent to about 8.5 euros, vs indicated 11.5 euro max

* To sell 7 million shares worth 236 million zlotys

(Adds confirmation, quote, detail)

WARSAW, Nov 26 (Reuters) - Ukrainian group Milkiland has priced its initial public offering at 33.78 zlotys per share, or around 8.5 euros and compared with an indicated maximum price of 11.5 euros.

Milkiland will sell 7 million new and existing shares on the Warsaw bourse, worth a total of 236 million zlotys ($78 million).

"I am sure that thanks to the IPO proceeds the company enters a path of more rapid growth. We are also looking forward to working with Milkiland's new shareholders," chief executive Vyacheslav Rekov said on Friday.

The dairy producer which has assets in Ukraine and Russia originally aimed to get 72 million euros ($95 million) to increase its production capacities. (Reporting by Patryk Wasilewski; Editing by Dan Lalor) ($1 0= 3.023 zlotys = 0.7540 euro)

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