Alumetal shareholder to sell 8.38 million shares

According to PAP, Abris CEE Mid-Market Fund, the majority shareholder in Alumetal will sell 8.38 million shares in the aluminum producer. The maximum price per share has been announced at PLN 44, while on July 4, the final price will be announced. A total of 55.56 percent of shares will be on offer. Fifteen percent of shares will be offered to individual investors. The stock market debut should take place around July 17.

Alumetal has already paid out PLN 10.5 million in dividends, with a second such installment due to be paid out July 1. The company's policy is to pay out 50 percent of its early profits in dividends. Alumetal is a major producer of aluminum cast alloys, with three production locations in Poland: Nowa Sól, Kęty and Gorzyce. They're planning on building a new plant in Hungary, at a cost of PLN 135 million. Its main clients include European companies, with 52 percent of sales to the domestic market. Alumetal has a five percent share in volume of remelted aluminum cast alloys sold in Europe. The company’s yearly revenue last year amounted to PLN 1.01 billion, EBITDA was PLN 54 million, and net profit was PLN 35.8 million.