Beefing up for the bourse
Officials of Pamapol, a producer of convenience food and processed meat, is set to debut on the Warsaw Stock Exchange (WSE) at the end of June. The company will offer between 4.5 and six million shares, intending to raise up to zł.66 million. The exact price will be settled on June 2, with an upper limit of zł.11 per share.
About zł.30 million will be allocated to new acquisitions. Moreover, Pamapol is planning to invest in infrastructure, new technologies and equipment. The company also wants to take over full control of Kwidzyn, a manufacturer of frozen and processed vegetables. Pampapol already holds a 77.8-percent stake in the company, and plans to buy the remaining 22.2 percent from the minority shareholders.
Pamapol's CEO Paweł Szataniak appears extremely enthusiastic about the company's prospects. In his opinion, the market for convenience food in Poland is expanding rapidly. "The potential for growth is huge, as people's habits are changing," he claims.
The group expects its turnover to surge from zł.150 million now to zł.500 million within the next three to four years.
"We want to double the group's net profit in two years," says Pamapol's finance director, Krzysztof Półgrabia. Last year, Pamapol and Kwidzyn's combined net profit was zł.10.2 million.
