Ruch press distributor to submit its issue prospectus soon

APA - Austria Presse Agentur
27-05-2005, 23:14

Warsaw (Puls Biznesu) - Ruch, Poland's biggest press distributing company, is finalising works over its issue prospectus. The document is nearly ready. 'We are working hard to submit it to the securities and exchange commission KPWiG until June 1st', Miron Maicki, Ruch CEO said. The company wants to issue 1.2 m of shares of E series.

Warsaw (Puls Biznesu) - Ruch, Poland's biggest press distributing company, is finalising works over its issue prospectus. The document is nearly ready. 'We are working hard to submit it to the securities and exchange commission KPWiG until June 1st', Miron Maicki, Ruch CEO said. The company wants to issue 1.2 m of shares of E series. Those shares are to be listed, which would help Ruch raise PLN 120 m (EUR 28.9 m) for acquisitions and investments planned for three years.

Before, however, the prospectus must be approved of by Ruch shareholders, i.e. the Ministry of Treasury. If KPWiG accepts the prospectus before summer holiday, the IPO could be conducted in September or October. At first, Miron Maicki, wanted to convince the ministry to sell its shares together with the new issue. 'I still hope they will join us. Perhaps, the Ministry will decide to do it when they see the results of our issue', Miron Maicki hoped. He would like the Ministry to agree for Ruch privatisation. Last year, the CEO sent a letter to the Ministry, asking them to join their shares with the new issue. 'No decisions have been made yet', Janusz Kwiatkowski, the spokesman in the Ministry of Treasury said.(PLN 1 = EUR 0.239)

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Podpis: APA - Austria Presse Agentur

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