Reporter goes to the East

MG
03-10-2007, 14:47

Warsaw (Puls Biznesu) – The clothes distributor delays its IPO but still has great plans.

Reporter, clothes company from Chorzow managing shops with clothes for teenagers, plans an IPO in the third quarter of next year. Before, the company planned listing in the first half of the year.

“We have decided that the year-beginning is not a suitable period for an IPO. In the first months of the year, we will be focused on this year’s settlements. That’s why our shares constituting 30 percent of all shares, will be listed in fall”, Marek Grolik, Reporter CEO explained.

The company wants to raise PLN 30-50m (EUR 7.9-13.3m) on the Warsaw Stock Exchange.

“We will spend the funds to develop, mainly abroad”, Marek Grolik said.

In Poland, there are 240 Reporter shops. The company runs also 60 shops in Belarus, the Czech Republic, Croatia, Russia, Slovakia and Ukraine. Next year, Reporter will fight for Ukrainian and Russian markets. This year, it is opening its first shop in Bulgaria.

Last year, the company had PLN 150m of sales and PLN 11m of net income. Plans for this year provide for PLN 180m of sales.

(PLN 1 = EUR 0.265)


 

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Inne / Reporter goes to the East