ECM shares to start trade in Prague Dec 11-source

PRAGUE, Nov 27 (Reuters) - Shares in Czech real estate developer ECM will start trading on the Prague Stock Exchange on Dec. 11, a source close to the company's planned initial public offering (IPO) said on Monday.

The company has said it wants to float a minority stake on the Prague market, delivering the bourse its second-ever IPO after generics drug maker Zentiva debuted in 2004.

The company has not revealed details about the issue but some analysts say the IPO may raise 50 million euros to 100 million euros ($65.67 million to $131.3 million).

Chief Executive Milan Janku told Reuters earlier this month he planned to keep an overall majority in the Luxembourg-registered company, which had total assets of 132.5 million euros and equity of 46 million euros at the end of 2005.

The company was expected to fix the IPO price on Dec. 5, the source said.

A prospectus on the issue was expected to be released on Wednesday, the source added.

ECM mostly focuses on development projects in the Czech Republic but has announced a 100 million euro investment in a shopping centre in Moscow and said it planned further expansion in Russia. ((Reporting by Jan Korselt, writing by Jan Lopatka, editing by Sue Thomas; prague.newsroom@reuters.com; Reuters Messaging: jan.lopatka.reuters.com@reuters.net; +420-224 190 474))

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Keywords: ECM IPO/SHARES