Globe Trade Centre, the Polish property firm, issued shares at the top of the bookbuilding range in its $86m (€72m) initial public offering, in a move that should encourage Polish companies who are planning to raise a record €1.6bn from IPOs this year.

The previous record year for Polish IPOs was 1998 when offers raised a total of €1.1bn, according to Dealogic, the investment banking research firm.