UPDATE 1-Pegas prices IPO at 27 euros per share

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Czech artificial fabrics maker Pegas Nonwovens has priced its initial public offering (IPO) at 27 euros per share, at the top of the range, global coordinator and lead manager ING said on Friday.

One market source said the overall size of the offering was 136 million euros, indicating the overall offering was slightly smaller than the maximum size set in the prospectus.

The company, a European number two fabrics supplier to makers of hygiene products such as nappies, will debut on the Prague Stock Exchange on Dec. 18.

The company had given a price range of between 21.5 to 27.0 euros per share.

ING gave no further details, but the company said it would issue a statement later on Friday.

Pegas was offering up to 2.02 million new and up to 3.26 million existing shares, including an over-allotment option of 689,250 existing shares.

One market source said the offering was six times oversubscribed and a second market source said it was four times oversubscribed at the 27 euros per share price.

Pegas will enter so-called conditional trading regime in Prague on Dec. 18. Regular trading in Prague and Warsaw is due to start on Dec. 21.

Pegas price quotes will be available to Reuters clients under the Reuters Instrument Codes , and .

[PRAGUE/Reuters/Finance.cz]