Ruch press distributor to be listed in fall

APA - Austria Presse Agentur
11-05-2005, 12:57

Warsaw (Puls Biznesu) – Ruch, Poland’s biggest press distributing company, decided on Sunday to be listed. The management wants to issue 1.2 m of shares of series E and place them in the stock market, which would give the company PLN 120 m (EUR 28.7 m) for acquisitions and investments planned in the upcoming three years.

Warsaw (Puls Biznesu) – Ruch, Poland’s biggest press distributing company, decided on Sunday to be listed. The management wants to issue 1.2 m of shares of series E and place them in the stock market, which would give the company PLN 120 m (EUR 28.7 m) for acquisitions and investments planned in the upcoming three years. ‘We hope, the prospectus to be signed by the Minister and approved of by the securities and exchange commission KPWiG. We want to be ready by July when new EU rules for the stock market are implemented’, Miron Maicki, Ruch CEO said. He added that the listing could be conducted in October.

Ruch will conduct its IPO even if its 100-percent owner, the Treasury, does not decide to sell its stake. In this case, its stake would fall to 72-73 percent. The management would like the Treasury to let an investor in the company and give publishers several percents of its capital. For the time being, however, the Ministry is considering the sale of a minority stake.

Ruch management wants to raise funds to face competition, including British Tesco, which is going to build smaller shops. Ruch will spend about PLN 340 m for investments and acquisitions in the years 2005-07. PLN 65 m of funds a year will be its own funds. The company will also take credits. ‘These investments will let us keep the leading market position’, Miron Maicki explained. In three years, Ruch wants to have 53 percent of press-sales market, 3 percent more than today. Key element of its strategy is the acquisition of new outlets.

(PLN 1 = EUR 0.239)Poland/Enterprises/Media

 

© ℗
Rozpowszechnianie niniejszego artykułu możliwe jest tylko i wyłącznie zgodnie z postanowieniami „Regulaminu korzystania z artykułów prasowych” i po wcześniejszym uiszczeniu należności, zgodnie z cennikiem.

Podpis: APA - Austria Presse Agentur

Najważniejsze dzisiaj

Polecane

Inspiracje Pulsu Biznesu

Puls Biznesu

Inne / Ruch press distributor to be listed in fall