GK Immobile to spin off 3 companies

WSE-listed holding GK Immobile plans to float three of its subsidiaries in the next 2-3 years, company's CEO Rafał Jerzy said. The holding, which currently has one company listed on the WSE, steel construction manufacturer Projprzem, plans to increase its presence on the Warsaw bourse. “Firstly, we would like to float on the WSE the hotel unit - a debut could be possible in late 2018. Within 2-3 years we would like to spin off a real estate subsidiary that would act as REIT.” Jerzy said. The third firm, also to be floated within 2-3 years, would operate in the developer segment. According to Jerzy, after the planned IPOs, all of the holding segments would be represented on the WSE and GK Imobile doesn't plan to set up new entities in other sectors.