Pivovary Lobkowicz, the fifth biggest beer maker in the Czech Republic, has sold off 2.3 million newly-issued shares through an IPO with the option for another 230,000 shares, the company stated Friday in a press release. The offered price per share for traders and institutional investors was 160 crowns. An additional 3.4 million shares were to be part of the offer but the original shareholders opted to hang onto their shares. The company’s trading on the Prague Stock Exchange will start on May 28. The total volume of traded shares, including the option, is worth around 405 million which corresponds to market capitalisation at 1.87 billion, the company said. Apart from domestic investors, investors from Austria, Poland, Hungary and Slovakia were drawn by the offer.