Kubota wants to raise up to PLN 2.5 mln and debut on NewConnect

Owner of the brand offering flip-flops popular in the 1990s, Kubota, is getting ready to enter the NewConnect market after reactivating its operations in 2018, the company said. As part of the share issue, which will last until August 24, the company plans to raise to PLN 2.5 million for further development.

On August 17, 2021, the second tranche of the Kubota share issue began, which was open. The value of subscriptions for shares accepted in the public offering has already exceeded the issue threshold set by the company of PLN 1.25 million, it was announced.

“The public offering of shares is primarily a way to obtain the necessary funds for the further development of the company. 2020 has been a very good year for us. We managed to triple our revenues, we doubled the number of users on the website (up to 600,000) and the number of page views (up to 2 million). The money from the issue will allow us to overcome further barriers and grow even faster,” Alina Sztoch, Kubota's COO and Head of Marketing, said.

In addition to footwear, the brand's assortment includes socks, accessories, and clothing. In July this year, the first streetwear clothing line in the history of the brand, combining comfort and aesthetics of the 90s, was launched.

(ISBnews)