Grupa Klepsydra looks to consolidate funeral market

Klepsydra Group, which entered the New Connect stock market on Tuesday through a reverse takeover of Merit, plans to consolidate the funeral market in Poland. The group aims to raise nearly PLN 30 million this year through two share issuances to build a strong leading group with approximately 20 entities and up to a 10% market share in the highly fragmented market within five years.

The funeral market in Poland is valued at PLN 4-5 billion, consisting of around 2,500 entities facing succession challenges. Klepsydra Group intends to achieve significant financial growth through acquisitions and eventually transition to the main Warsaw Stock Exchange market.

Source: ISBnews