Cutting-edge debut

Ozorków-based HTL-Strefa, a producer of laboratory and medical equipment, wants to debut on the bourse around November 15 to raise zł.57.8 million from the floor. The bulk of the funds will be used for paying back loans drafted to finance the company's recent investments, such as the construction of a new production plant in Łęczyca, the expansion of existing production lines, and the opening of an office in the US, the company's core market.

The bookbuilding will be held from October 27-30 and subscription for shares for both individual and institutional investors will last from October 31 to November 6.

Within the next three years the company wants to increase its share in the global safety lancets market to 35 percent. HTL also produces personal lancets, which are used five times a day by diabetes patients. The value of the global market for these tiny, single-use devices is estimated at $66 (zł.199) million, 11 percent of which belongs to HTL.

"The global market of personal and safety lancets grows at a 10 percent annually. Currently, the biggest market for these products exists in the US and Western Europe. We export 98 percent of our production," said Andrzej Czernecki, CEO of HTL-Strefa.

The company's main shareholder is now Andrzej Czernecki, who holds 50.1 percent of shares, followed by Wojciech Wyszogrodzki, HTL's general director (10 percent) and Noryt Company Establishment (39.8 percent). After the IPO their shareholding will fall to 40.31 percent, 7.84 percent and 30.63 percent respectively. New shareholders will take up 21.22 percent of shares.