Hoopla goes on the stock exchange first and shopping later on

05-10-2007, 19:09

Warsaw (Puls Biznesu) – The internet shop will be  first listed on November 9th. Majority of funds raised on the stock exchange will be spent on acquisitions.

Hoopla.pl, an internet shop with consumer electronics, home appliances, PCs, and fittings, wants to raise PLN 11-13m (EUR 2.9-3.4m). The company issues 1m shares, at the price of PLN 11-13 each. Additional 1m shares may be sold by the company’s biggest shareholder, MCI. PLN 7m raised in the issue will be spent on acquisitions of companies with complementary offer. Hoopla.pl wants to buy small, medium-sized as well as big companies. It is interested in retailing sports equipment and clothes, house equipment, electric tools and accessories for children and babies.

First acquisitions may be conducted as early as this year. The company will also invest in implementing new IT systems, renting headquarters and advertising campaigns. In the future, the company may launch operations in Eastern Europe.

(PLN 1 = EUR 0.265)

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