Odratrans inland transport company plans IPO and acquisitions

APA - Austria Presse Agentur
opublikowano: 10-06-2005, 20:53

Warsaw (Puls Biznesu) – Odratrans, Poland’s biggest inland transport company and one of European leaders in this market, plans an IPO on June 27th-29th. ‘If everything goes well, Odratrans will be listed in July’, Konrad Zawisza from BRE Bank said. The company was privatised and today 93 percent of its shares belongs to IZO-Erg and IZO-Invest.

Warsaw (Puls Biznesu) – Odratrans, Poland’s biggest inland transport company and one of European leaders in this market, plans an IPO on June 27th-29th. ‘If everything goes well, Odratrans will be listed in July’, Konrad Zawisza from BRE Bank said. The company was privatised and today 93 percent of its shares belongs to IZO-Erg and IZO-Invest. Odratrans wants to sell 250,000-373,500 shares and 373,500 new shares. Retail investors will be offered 147,000 shares, institutional ones – 600,000 units. BRE Bank estimates a share at PLN 84 (EUR 20.8).

Odratrans wants to raise several dozen millions zlotys. It needs the funds for its investment plan for the years 2005-2007. PLN 24m will be spent on acquisitions in Germany and new ships. ‘We would like to become Germany’s leading company in our sector. Therefore we have planned acquisitions. First results should be seen this year’, Andrzej Klimek, Odratrans CEO said. Another PLN 6m will be spent on transport companies offering their services in Odra river region. About 5m will be spent on modernising the fleet.

This year, the company plans to increase sales by 6 percent to PLN 105m, and its income by 17 percent to PLN 10.4m.

(PLN 1 = EUR 0.248)Poland/Enterprises/Transport/IPO

 

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