Warsaw (Puls Biznesu) – The Czech producer of nonwoven fabrics plans an IPO in Prague and Warsaw.
Pegas Nonwovens, the Czech producer of fabrics used in hygienic products, wants to be listed in Prague and Warsaw. The company was supposed to publish its issue prospectus yesterday at night. Yesterday, the company’s representatives did not give details concerning the issue. According to Bloomberg agency, the IPO will be conducted before Christmas. The issue will consist of new and old shares. The latter are owned by British investment funds – Pamplona. According to Bloomberg, the offer may be worth up to EUR 150m.
“When we enter the capital markets we will be able to further develop and grow”, Milo Bogdan, the general director of Pegas Nonwovens said.
The company wants to develop capacity.
“We will spend EUR 40m till 2008 to build new magazines and the eight production line”, Milos Bogdan said.
The company was founded in 1990. In 2005, it had EUR 109.5m of sales and EUR 26.6m of net income. In the first half of this year, it had EUR 60.6m of sales and EUR 10.6m of net income.