CDRL to debut on October 28

CDRL, owner of the Cocodrillo children’s clothing brand, raised PLN 14.9 million in a recently completed initial public offering, the company said in a statement on Friday. It plans to debut on the main market of the Warsaw Stock Exchange on October 28. Subscriptions in the individual investors’ tranche had to be reduced by 81.75 percent, the statement said. “We are happy to see such large interest in our securities from the part of investors on a market as difficult as it currently is,” said Marek Dworczak, chief executive of CDRL. The company offered 1 million newly issued shares. It allocated 920,000 shares to institutional investors and 80,000 shares to individual investors.