* Institutional investors to pay 46 zlotys/share
* Individuals to pay 43 zlotys/share
* Offer oversubscribed at top of range (Adds details)
By Agnieszka Barteczko and Adrian Krajewski
WARSAW, Oct 28 (Reuters) - Poland will price the flotation of the Warsaw bourse at the top of its range thanks to high investor interest, valuing the initial public offer (IPO) at 1.21 billion zlotys ($424 million), two sources told Reuters.
The listing of 64 percent of the state-owned bourse is this year's last privatisation listing for Poland, which has been selling assets to keep state debt under control.
"The book for institutional investors has been oversubscribed a few times at the maximum price of 46 zlotys (per share)," said one source close to the transaction.
Encouraged by the high interest among investors, Poland's treasury ministry, which oversees state assets, had earlier raised the top of the range by 3 zlotys to 46 zlotys.
The ministry declined to comment on the price for institutional players.
The 323,000 individual investors who subscribed to buy 30 percent of the offer of existing shares will pay 43 zlotys each, Treasury Minister Aleksander Grad told reporters earlier on Thursday.
Poland hopes local investors will see a quick profit this
time, unlike those who bought into the last major state company
to be floated, utility Tauron
The Warsaw bourse IPO should help push Poland, Eastern Europe's largest ex-communist economy, past its 25 billion zloty target for privatisation income this year, according to income data on the treasury's website.
The exchange, which was housed for several years in the former communist party building when it was launched in 1991, initially listed just five companies. It currently lists 390 firms with a combined market capitalisation of nearly 800 billion zlotys. (Editing by Will Waterman)