Poland: Srubex screw producer will be listed this year

22-12-2004, 13:12

Warsaw (Puls Biznesu) – Srubex screw producer received the approval of the security and exchange commission KPWiG to be listed. This will be the 45th company listed this year.

Srubex plans to offer 1.07 million shares, including 550,000 new ones. The issue should bring around PLN 30 million (EUR 7.3 million), which the company plans to spend on acquisitions and technology. National investment funds are Srubex main shareholders, owning 39.84 percent jointly. They are going to sell part of their stakes in the IPO.

After three quarters, Srubex had PLN 116.2 million of sales, 7 percent more then in the whole 2003. Operating income grew to PLN 15.6 million from PLN 6.8 million in 2003. Net income amounted to PLN 12.8 million.

(PLN 1 = EUR 0.243)

Poland/Enterprises/Stock exchange

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Puls Inwestora / Poland: Srubex screw producer will be listed this year