Hoop ready to enter WSE and Russian market

On Wednesday, the Securities and Stock Exchange Commission (KPWiG) allowed the shares of soft drinks producer Hoop to be listed on the Warsaw Stock Exchange (WSE). "The share price will be based on book building values, which will be published before the beginning of subscription," said Hoop management advisor Robert Niczewski. He added that the company management has already met with domestic investors willing to acquire the stock and will soon hold meetings in London and Frankfurt. The company plans to collect zł. 100 million from the floor, which would be spent on, among others, acquiring a stake in Russian Megapak, servicing PepsiCo and Corrs. Both companies already co-operate since 2001, by holding equal 50% stakes in Dom Handlowy Megapak. "Thanks to the investments, Hoop will be able to strengthen its position on the Russian market, which is expected to grow by 20% per annum in terms of mineral water sales," added Niczewski. (Parkiet, June 20, p. 3) M.M.