A date with the Police
Zaklady Chemiczne Police, Poland's top maker of phosphorous fertilizers will start its IPO on June 27.
The state-owned company wants to raise at least zł.150 million from an issue of up to 15 million shares, which would make up 20 percent of the firm's increased capital. "I hope that we will not only acquire capital, but also loyal shareholders," the president of Police's management board, Andrzej Kurowski, said.
Funds raised from the issuing of the shares will support the company's ambitious investment program, which will cost zł.500 million over a three-year period. The goal of the program is increasing production capacity and reducing production costs, along with limiting the plant's strain on the environment.
The subscription period for individual investors is due to end on July 1, and for institutional players on July 7. Police's share offering will be one of the last major privatizations carried out by the current leftist administration. Shares in Police, are due to start bourse trade in July. (Reuters)
The state-owned company wants to raise at least zł.150 million from an issue of up to 15 million shares, which would make up 20 percent of the firm's increased capital. "I hope that we will not only acquire capital, but also loyal shareholders," the president of Police's management board, Andrzej Kurowski, said.
Funds raised from the issuing of the shares will support the company's ambitious investment program, which will cost zł.500 million over a three-year period. The goal of the program is increasing production capacity and reducing production costs, along with limiting the plant's strain on the environment.
The subscription period for individual investors is due to end on July 1, and for institutional players on July 7. Police's share offering will be one of the last major privatizations carried out by the current leftist administration. Shares in Police, are due to start bourse trade in July. (Reuters)
