KNF has approved Polwax prospectus

The Polish Financial Supervision Authority (KNF) has approved the prospectus of Polwax, a paraffin and wax producer, the watchdog reported on Monday. Polwax will now be allowed to issue shares on the Warsaw Stock Exchange. The B and C shares will subsequently be introduced into the regulated market. Stockbroker Dom Maklerski mBanku will be the offerer in the floating process. The aim of the company is to increase its value and financial results, as well as improve the position of the company on both domestic and foreign markets. Polwax will introduce nearly four million shares, constituting almost 40 percent of the company’s initial capital.