As-Bau submitted its issue prospectus to the financial authority last Friday.
“We hope to have the debut in the second quarter of the year”, Stanislaw Haczkiewicz, As-Bau CEO said.
The company wants to raise PLN 60-70m (EUR 16.7-19.5m) and spend the funds for several homebuilding projects in Wroclaw as well as for a winter sports resort on 25ha of land in Biala Woda, Kotlina Klodzka, south-western Poland.
These plans may be modified as As-Bau attempts to buy sports resort in Czarna Gora put up for sale by state-owned Agency of Industrial Development (ARP). The initial price amounts to PLN 18.35m. According to “PB” sources, Polskie Koleje Linowe, a company owned in 90 percent by ARP, is also planning to buy the resort.
“We want to spend PLN 18m raised on the WSE for Biala Woda project. If we manage to buy Czarna Gora, we will need money for the acquisition. Further investments would then be financed with credits”, the CEO added.
As-Bau would merge both places into one which would become Poland’s biggest ski resort. In Biala Woda, the company may invest PLN 115m.
(PLN 1 = EUR 0.279)