Poland's Arlen sets maximum IPO price at 38 zlotys/share

June 4 (Reuters) - Polish protective clothing maker Arlen Group has set a maximum price for its initial public offering (IPO) of 38 zlotys ($10.11) per share, it said in a prospectus published on Tuesday.

The maximum price indicates that the total value of the IPO could reach about 294 million zlotys.

A family foundation controlled by Arlen's CEO and founder Andrzej Tabaczynski, A.T. Fundacja Rodzinna, is set to offer up to 6.6 million shares, or a 29.8% stake, in the company.

That could be increased by up to 1.14 million shares, Arlen said.

The final number of shares offered, as well as the final IPO price will be announced no later than June 13.

The subscription period for retail investors will run from June 4 to June 11, it added. A.T. Fundacja Rodzinna intends to allocate about 10% to 20% of the shares to retail investors.

Arlen said its debut on the Warsaw bourse is expected on June 24.

The company, which makes clothing for military as well as specialised clothing for other services, reported 2024 revenue of 461.4 million zlotys.

The IPO is set to be the second in Poland this year, following medical diagnostics company Diagnostyka's DIAP.WA 1.7 billion zloty share sale in January.

($1 = 3.7584 zlotys)