GetBack to hopes to raise PLN 1 bln through private placements

WSE-listed debt collector GetBack plans to raise PLN 1 billion from private placements to deleverage and maintain market position, the company’s CEO Konrad Kąkolewski said. “PLN 1 billion for the firm will allow us to continue our rather high profitability and strongly satisfy our balance sheet,” he explained. Up to PLN 300 million in new share issue will be offered to select current shareholders by end-march, then PLN 700 million will be offered two long-term financial investors which had approached the company. The second tranche constitutes some 50 percent of GetBack’s existing shares. GetBack has also started the review of potential strategic options, will consider looking for a strategic investor, entering into a strategic alliance, as well as making another transaction, the company said in a market filing.