As of August 10th, the management board of Ciech has submitted an application to lists its shares at the Stock Exchange in Frankfurt as part of the so-called “dual listing” process. Ciech, as the first Polish company, will be listed at the Warsaw Stock Exchange and at Börse Frankfurt at the same time.
“The purpose of “dual listing” is to develop the investors base and focus on dynamic development and long-term building of the market value of the company for all shareholders,” the statement issued by the company read. Despite being also listed in Germany, the company will still remain under the full supervision of the Financial Supervision Commission (KNF) and it will be fully subject to the Polish legislation.
In Q1 2016, the consolidated revenues of the Ciech Group amounted to PLN 826 million, EBIDTA was PLN 204 million (increase by 17.6 percent y/y). The net profit was at the level of PLN 102 million (increase by 92.1 percent).
Ciech is the largest soda producer in the CEE region and one of the leading producer of plant protection chemicals, resins, PUR foams, silicates and glass.