Dino retailer reveals WSE debut details

Retail chain Dino Polska will offer 49 percent of the shares in its initial pubic offering, the company said in a market filing. “The Company does not plan a capital increase and raising additional capital in the context of the Offering,” the company said. The 49 percent stake valued at PLN 48.04 million will be sold by Sigma Group investment fund. Tomasz Biernacki, who holds the remaining 51 percent stake will remain Dino's majority shareholder. The shares owned by Biernacki “will be subject to a lock-up agreement for a period of 720 days from the date of the first listing of the Company’s shares on the WSE,” Dino said. "Also, any shares purchased by members of the Management Board of the Company in the IPO, on the same terms as the institutional investors, will be subject to a two-year lock-up." “The final decision on the schedule for the offering will depend on the market situation,” the statement said. At end-2016, Dino sported 628 stores, located mostly in Western Poland, up by 117 y/y, and the company expects similar number of new stores this year. In 2015, the company had PLN 2.59 billion profit.