Today, the issue prospectus of Jaroma should be submitted to the Polish Financial Supervision Authority.
“We assume that our shares will be first listed on the stock exchange in January or February”, Leslaw Palosz, Jaroma deputy CEO said.
The prospectus was supposed to be submitted in June. The company had planned its debut in September.
“Because of a holiday slump on the stock exchange we decided to wait. Now, the market stabilized and we continue our stock market preparations”, Leslaw Palosz said.
The company has not only changed the deadline of its listing but also its expectations. Before, it wanted to raise over PLN 20m (EUR 5.3m). Now, it is PLN 13-15m.
“We will have to limit our investment projects”, the deputy CEO added.
Jaroma will probably give up acquisitions. It will only increase its stake in Remor which today amounts to 51 percent. Jaroma belongs to Datex, a company with headquarters in Wadowice. The company grows 30-40 percent annually. In 2006, it had PLN 30m of sales and PLN 1.5m of net income.
(PLN 1 = EUR 0.265)