UPDATE 1-Czech AAA Auto sees share issue in 2009

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By Jan Korselt

PRAGUE, Sept 20 (Reuters) - Czech used car dealer AAA Auto could offer another share issue to investors in early 2009 after an initial public offering, valuing the company at up to 156.5 million euros ($219 million), that closes on Friday, a spokesman said on Thursday.

A possible candidate to list the shares could be the Warsaw stock exchange, allowing the firm to expand its presence on central European stock markets from Prague and Budapest.

"(The secondary offering) is not final yet, but we are considering it," spokesman Vladan Crha said. "If we decide so, then Warsaw is a hot candidate."

He said the company would use funds raised from the new offering to extend its dealership network to booming eastern European car markets such as Russia, Ukraine and Serbia.

The company, controlled by businessman Anthony Denny, is offering a 28.1 percent stake in the firm on Prague and Budapest stock exchanges. The book building is due to close on Friday, whith conditional trading in Prague starting on Monday.

AAA Auto Group NV, which has used-car dealerships in five central European countries, will issue as many as 17.76 million new shares plus up to 1.78 million shares in an overallotment option.

The maximum price has been set at 2.25 euros ($3.15) per share, the company has said. The IPO would raise up to 43.9 million euros.

It will be the smallest stock on the main SPAD segment of the Prague Stock Exchange .

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Keywords: CZECH AAA/SPO