ADe Line gets ready for a stock debut

opublikowano: 24-01-2008, 18:09

Warsaw (Puls Biznesu) – Producer of  interior decorations wants to spend PLN 20m (EUR 5.5m) for new shops. Then it  will look for funds for further development on the stock exchange.

ADe Line, the Wroclaw company managing Almi Décor and FLO shops, plans a debut in the last quarter of 2008 or the first quarter of 2009.

“We watch the market and wait what’s going on. We still don’t know what’s going on on the stock exchange, whether it’s a correction or bearish market. We want to be listed because we need funds to develop further”, Grzegorz Ochedzan, ADe Line CEO said.

Nearly 80 percent of ADe Line is controlled by its founder Zbigniew Mrozek and his family. The remaining stake belongs to DM IDMSA brokerage. After the IPO, the owner wants to keep a controlling stake. The issue will be worth several dozens million zloty.

“Stock exchange is priority but unless the situation on the market calms down, we will consider other opportunities to finance the investment. We will implement our plans whatever is happening on the WSE”, Grzegorz Ochedzan assured.

The plans are expensive. Funds raised in the issue will be spent to develop the network in the years 2009-10. ADe Line wants to launch 8-12 Almi Décor shops in Poland and up to 12 shops in abroad as well as 25 FLO shops. The projects will cost PLN 20m. Today, the company has 31 Almi Decors, including one in Lithuania, and 10 FLOs.

This year, ending in March, ADe Line management hopes for PLN 100m of sales and PLN 4m of net income. Last year, the company had PLN 61m of sales and PLN 1.4m of net income.

(PLN 1 = EUR 0.276)

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