Warsaw (Puls Biznesu) – The shareholders structure of the listed jewelry producer is changing. Private investor Elzbieta Sjoblom may be selling her stake.
This week, the shareholders structure of W. Kruk has changed substantially. On Tuesday, 118,000 shares, or 7 percent of the capital, changed hands. The market speculations say that it was Elzbieta Sjoblom, the owner of a 11.7 percent stake, who was selling her stake. She is known for investment in Prochnik, Gant and Budopol.
“I have closely watched recent transactions and I assume that the big stakes which were sold on the market could come from Elzbieta Sjoblom. Her stake may fall to below 5 percent”, jan Rosochowicz, W. Kruk CEO said.
Analysts confirm his assumptions.
“I have heard that it might be Elzbieta Sjoblom. If financial institutions bought the stakes, it is good news for both the company and its share price”, Bogna Sikorska, BM BGZ analyst said.
She estimated the share price at PLN 41 (EUR 10.7). Yesterday, the cost PLN 38.9, or 5 percent above the Tuesday level.
The company, whose major shareholder is Wojciech Kruk (22.3 percent), has promised a dynamic growth.
“We want to launch 9-10 new shops, including 7-8 jewelry shops and 2-3 Deni Cler shops. The project will cost PLN 10m. We have similar plans for 2007”, W. Kruk CEO said.
Today, the company has 35 jewelry shops and 22 Deni Cler shops. According to forecasts, W. Kruk had PLN 3.9m of net income last year against PLN 86.1m of sales.
(PLN 1 = EUR 0.262)