Maspex to wait with IPOs till its owners retire - CEO

Food producer Maspex doesn't plan on floating its shares on the stock exchange for the foreseeable future. The only scenarios that could change it are potential sizeable acquisition or bowing out of business of its current owners, company's CEO, Krzysztof Pawiński told Reuters. “The fact that as the co-owners we have been together for more than 25 years is unique, but we are not that naive to assume that the group of our relatives would be as much in agreement as we are,” he said. “This is why the stock exchange is a good place for Maspex at some point in the future, but now it is not the time and there is not the need,” he added. Maspex, which owns several brands in Poland and other European countries, has acquired 18 companies since its inception. So far, it managed to finance them with own money or bank loans. “If we do not have this (bank support), and a really big acquisition comes up on the horizon, we would not have any problems with sharing our ownership,” Pawiński said. Maspex posted a PLN 3.73 billion net profits in 2015.