Neonet RTV/home appliances retailer wants to raise PLN 65m

APA - Austria Presse Agentur
21-06-2005, 14:12

Warsaw (Puls Biznesu) – Neonet, Poland’s RTV and home appliances retailer plans its IPO for July 8th-12th. The company would like to raise PLN 65m (EUR 16.1m) in the stock market. The funds will be spent on investments and development. “We will spend PLN 14m to develop distribution channels and PLN 20m for acquisitions. We plan to acquire at least two companies.

Warsaw (Puls Biznesu) – Neonet, Poland’s RTV and home appliances retailer plans its IPO for July 8th-12th. The company would like to raise PLN 65m (EUR 16.1m) in the stock market. The funds will be spent on investments and development. “We will spend PLN 14m to develop distribution channels and PLN 20m for acquisitions. We plan to acquire at least two companies. I believe that investors will be interested in our offer despite summer holidays. We operate in market with huge potential and we have a strong position and development strategy”, Marek Majewski, Neonet CEO and main shareholder said.

The company has its shops in towns of over 200,000 inhabitants. In 2004, the group had PLN 490m of sales and PLN 9m of net income. This year it should be, respectively, PLN 591m and PLN 11.5m. ‘The estimates do not cover acquisitions. Thanks to investments, we want to increase our market share from 8 percent to 15 percent within two years’, the CEO added. After the IPO, he will control nearly 75 percent of the company.

(PLN 1 = EUR 0.247)Poland/Enterprises/Retailers/IPO

 

© ℗
Rozpowszechnianie niniejszego artykułu możliwe jest tylko i wyłącznie zgodnie z postanowieniami „Regulaminu korzystania z artykułów prasowych” i po wcześniejszym uiszczeniu należności, zgodnie z cennikiem.

Podpis: APA - Austria Presse Agentur

Polecane

Inspiracje Pulsu Biznesu

Tematy

IPO

Puls Biznesu

Inne / Neonet RTV/home appliances retailer wants to raise PLN 65m