LC Corp. homebuilding company to be listed within several weeks

opublikowano: 01-06-2007, 11:44

Warsaw (Puls Biznesu) – The first company from Leszek Czarnecki group with non-banking operations will be listed soon.

 

Leszek Czarnecki prepares IPO of the third of companies he controlls. On June 12th, the stock of LC Corp., the homebuilding company, will be listed. LC Corp. runs building projects in Wroclaw, Warsaw and Krakow. It plans projects in Lodz. The company is going to build 500,000 square meters of flats which will be ready within five years.

 

The projects in Wroclaw and Warsaw are estimated at over EUR 800m. 80 percent of the costs will be financed from credits, the rest from the company’s own funds, including those raised on the stock exchange. The company will also spend the funds raised on the WSE to buy several dozens thousands of square meters of land in Poznan, Gdansk and Katowice.

 

LC Corp. did not reveal how big a stake will be sold. The IPO is going to be bigger than this of Noble Bank which had its IPO on Wednesday worth PLN 315m (EUR 82.5m).

(PLN 1 = EUR 0.262)


 

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