Enter Air begins IPO

Poland's largest charter airline Enter Air has published a prospectus and is starting an IPO. The total value of 7 million new shares to be issued amounts to PLN 110 million and the sum will be channeled to modernize the company's fleet. The debut on the WSE is expected on July 16. "From the beginning, Enter Air has been growing rapidly and has been steadily improving its financial results. We want to renew the fleet and continue to grow, thus funds from investors seem to be the optimal source of financing. In return, we offer potential shareholders an involvement into the development of Enter Air, a leader in the growing market of charter airlines in Poland," said Grzegorz Polaniecki, a Director General of Enter Air. Enter Air will offer 5.9 mln shares to institutional investors, 1 million shares for individual investors, and the remaining part for the company's employees.