Gobarto to leave the WSE

The parent company of Gobarto will continue to sell shares of the giant meat producer and de-list from the Warsaw Stock Exchange, the Polish press reported on the weekend. Cedrob, Gobarto’s main shareholder, is said to be planning the dematerialization of shares and the subsequent issuing of new shares without pre-emptive rights in order to increase capital. “The issue of shares is a way to finance the first phase of an ambitious investment plan [in Gobarto] – in which we estimate [to spend] several hundred million [PLN] over the next years,” said Cedrob president Andrzej Goździkowski in a press release. However, added that the company’s status was also dependent upon the successful completion of a tender offer. Cedrob currently holds a 66 percent-stake in Gobarto. Phase 2 of the tender, involving almost 9.5 million shares and 34 percent of the ownership, will take place December 17 to January 16, 2017, which individual shares valued at PLN 6.15 during this period.