Warsaw (Puls Biznesu) – Monnari, which is planning an IPO, has acquired two brands. After the transaction it wants to raise PLN 40m (EUR 10.3m) on the stock exchange.
Monnari Trade, the company designing and distributing clothes with headquarters in Lodz, central Poland, is going to submit its issue prospectus at the Securities and Exchange Commission in Warsaw later this month. Yesterday, it said it had acquired two brands: Pabia and Hensel & Mortensen. The two brands were bought from Pabia’s bankruptcy officer.
Marek Banasiak, Monnari Trade CEO, did not reveal the value of the transaction. He only said that there will be a shop network under Pabia brand launched with women over 30 years old as the target group (the same as for Monnari). The company said it wants to raise PLN 40m from the IPO. Earlier, it was talking about PLN 20-30m. In the first half of this year, the company had PLN 3.7m of net income and PLN 36.3m of sales.
(PLN 1 = EUR 0.258)