Czech developer ECM Group says plans IPO in Prague

PRAGUE, Nov 14 (Reuters) - Luxembourg-registered property developer ECM Real Estate Investments said on Tuesday it planned to launch an initial public offering (IPO) on the Prague bourse before the end of this year to raise funds for expansion.

"The company intends to offer shares via a public offering in the Czech Republic and a private placement to selected institutional investors in Europe," ECM said in a statement.

"The company also intends to seek listings of its shares and warrants on the Prague Stock Exchange," it added.

The sole global coordinator is CA IB, an investment banking unit of Unicredit Group <CRDI.MI>, Austria's Erste Bank <ERST.VI> is co-lead manager. ((Reporting by Marek Petrus; Editing by Alan Crosby; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477))

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Keywords: PROPERTY CZECH ECM