Pegas Nonwovens' bankers exercise greenshoe option

...an over-allotment option on 657,750 shares, the company said.

Pegas said ING, which coordinated the firm's IPO in December, exercised the greenshoe option on Jan. 12 and bought the shares at the IPO price of 27 euros each.

The transaction raises the number of Pegas shares in the IPO to 5.04 million, or 54.6 percent of its equity.

Pegas, which by market share is Europe's number two fabrics supplier to makers of hygiene products such as nappies, sold 1.81 million new shares, 2.58 million existing shares and an extra 0.66 million in the over-allotment option, valuing the firm at 249 million euros ($322.1 million) at the IPO price of 749.2 crowns ($34.89).

Pegas closed at 766 crowns on Monday.

[PRAGUE/Reuters/Finance.cz]