Getin Holding and LC Corp. plan three issues worth PLN 1.6 billion
Warsaw (Puls Biznesu )- Two holdings, three issues, four purposes. Leszek Czarnecki will soon ask the financial market for PLN 1.6 billion (EUR 406.6m).
Leszek Czarnecki, Poland’s third richest man, according to ‘Forbes’ magazine with PLN 3.2 billion of assets, is preparing three issues to raise PLN 1.616 billion. The funds will be spent for bank and insurance investment projects in Poland and the East as well as large construction projects. Getin Holding, the financial arm of Leszek Czarnecki holdings, is finalizing the acquisitions of two banks in Russia and Ukraine. Half of the capital raised in one of the two issues planned in the future will be spent for this purpose. The issue may be worth up to PLN 756m.
Leszek Czarnecki is also interested in acquisitions in Romania but not this year. For the time being, the holding is strengthening its position. It is issuing PLN 560m to buy TU Europa. The second part of the first issue will be spent to develop Getin Bank (200 outlets while there are 158 today, more cash credits and credit cards).
LC Corp., the second base of Leszek Czarnecki’s operations, investing in intangible assets which is going to be listed next year, plans to raise PLN 300m. The company will soon finish its first big investment project in Wroclaw. Before the listing, it hopes to get approval to build Sky Tower, an apartment house worth USD 400m.
(PLN 1 = EUR 0.254)