KNF approves Wittchen prospectus

Poland's financial watchdog (KNF) has approve a prospectus from Polish premium footwear and clothing group Wittchen. The company plans to hold IPO and enter the Warsaw bourse as part of its expansion plans into foreign markets in the e-commerce sector, a company press release read. The IPO foresees the issues of new shares, as well as the partial sale of a stake held by its shareholders. Last year, the company's sales revenue reached PLN 130.5 million, thus it recorded a 50 percent increase on a yearly basis.