Kompap stock has been gaining for several days. Investors welcomed the modified plans of how the company will spend funds raised on the WSE. The producer of paper and printing materials raised PLN 13m (EUR 3.9m) in its last issue. The funds were supposed to be spent to buy a lot which the company used to lease, to invest in a new modern machine and for acquisitions. Several weeks ago, Kompap said it is not going to buy a new machine because it had bought two older ones. The lot turned out to be cheaper than expected. That’s why as much as PLN 6.25m is left for acquisitions.
“Jointly with last year’s income, we have over PLN 10m”, Waldemar Lipka, Kompap CEO and main shareholder said.
Kompap has submitted an offer to privatize Olsztynskie Zaklady Graficzne OZGraf where it competes with seven other companies. The tender will be concluded on September 29th. Kompap is also interested in increasing its engagement in listed Muza. It is also negotiating with two smaller firms. According to “PB” sources, Tektura Opakowania Papier of Tychy may be one of the targets. The company is connected with Mariusz Banaszuk, who several days ago was appointed the member of Kompap’s supervisory board.
(PLN 1 = EUR 0.305)