“We assume it will be approved of in March. We want to be listed in the first or second quarter”, Dariusz Grzeszczak, Erbud member of the board said.
An issue is planned divided into two parts. The majority of the shares will be offered to institutional investors.
“Funds will be spent for house building and development in Western Europe. The majority of them, however, will be spent for acquisitions. We plan to acquire one or two companies from the road building and engineering industry. We think about a company half our size. We want to buy it this year. Wolff&Muller which has nearly 50 percent of our stock will support us”, Dariusz Grzeszczak added.
Erbud is also going to start operations in road and infrastructure building.
“These sectors have perspectives. We may improve profitability which amounts to 5 percent now”, Jozef Zubelewicz, a member of the board explained.
In 2006, Erbud had PLN 21.3m (EUR 5.5m) of net income against PLN 394.7m of sales. In 2006, the company signed 45 contracts, including 18 in Poland. The company operates also in Germany, France, Belgium, Scandinavia, Ireland and England.
(PLN 1 = EUR 0.257)