Kolastyna plans to raise PLN 52m

opublikowano: 19-01-2007, 12:54

Warsaw (Puls Biznesu) – The cosmetics producer from Krakow wants to issue 15m shares and raise PLN 52m (EUR 13.5m). Over half of this amount will be spent for acquisitions and new brands.

Warsaw (Puls Biznesu) – The cosmetics producer from Krakow wants to issue 15m shares and raise PLN 52m (EUR 13.5m). Over half of this amount will be spent for acquisitions and new brands.

 

In early February, Kolastyna plans its IPO. The issue may be worth up to PLN 52.5m. The group will offer 15m shares of E series. The price range amounts to PLN 2.5-3.5. Subscription will last from January 25th-29th.

“We offer 11m shares to institutional investors and 4m shares to individual ones”, Andrzej Grzegorzewski, Grupa Kolstyna CEO said.

 

The company has plans for the upcoming three years.

“We have 5 percent of the skin care cosmetics market. Till the end of the year 2009, we plan to double it. We also expect exports to grow from 10 to 30 percent”, Andrzej Grzegorzewski said.

PLN 28m will be spent for acquisitions and new brands. Exports, marketing and merchandising activities will be worth PLN 6-7m. The funds will be raised by PLN 7m, PLN 6-7m will be spent to build a laboratory (the whole project is worth PLN 20m). In 2006, the group forecasts PLN 90m of consolidated sales and PLN 7.8m of gross income. A year ago, they amounted to PLN 81.5m and PLN 2.6 respectively.

(PLN 1 = EUR 0.259)

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