Bytom and Vistula set new share parity for the planned merger

WSE-listed fashion retailers Vistula and Bytom decided to adjust the share parity in the planned merger to 0.72 from the previous 0.82, meaning that for every Bytom share, its shareholders would receive 0.72 Vistula share. According to the updated merger plan of Vistula and Bytom, the share capital of Vistula is to be increased by PLN 10.65 million by issuing 53.26 million ordinary bearer series O shares with a nominal value of PLN 0.2. The potential merger is currently being analyzed by the antitrust watchdog UOKiK, which back in November, extended its enquire by 4 months and market analysis has been ordered. In 2016, Vistula had PLN 35.2 million net profit, while its peer Bytom had PLN 12.4 million in net profits. Vistula is worth some PLN 570 million, according to its share price, while Bytom capitalization is at some PLN 194 million.