Shares of Answear.com, a leading e-commerce retailer of fashion in Central and Eastern Europe, debuted on the main market of the Warsaw Stock Exchange. In December, the company conducted a public offering with a total value of over PLN 80 million. The share price at the debut was PLN 29.9, which means an increase of nearly 20 percent against the price from the offer. After 30 minutes of trading, the share price went to PLN 37, which means an increase of 48 percent.
“We are happy that we have successfully completed the IPO and joined the group of public companies. This is an important stage of business development for us. We will use the acquired capital for further dynamic development. In addition, new investors joined our shareholding structure, thanks to whom this growth will be even faster. We would like to thank all shareholders for their trust, and I believe that together we will build further value for Answear.com,” Krzysztof Bajołek, president of Answear.com, commented.
“Our offer was very popular among individual investors. The reduction in this tranche was a record of 96.6 percent. Our offer was attended by over 10,000 individual investors. This puts Answear's IPO in fourth place in terms of popularity of all share offers among individual investors over the last five years. It is a signal for us that investors appreciate our business, which makes us happy and motivates us to act,” he added.
Answear.com is an e-commerce company founded in 2011 dealing with the sale of branded clothing, footwear, and accessories. The company currently operates in seven countries of Central and Eastern Europe: Bulgaria, the Czech Republic, Poland, Romania, Slovakia, Ukraine, and Hungary. Sales are geographically diversified, and none of the markets accounts for more than 30 percent of the share in the total revenues of the company.