Modena plans IPO in 2004 and to develop its real estate

Clothing company Modena intends to enter the Warsaw Stock Exchange and raise between zł. 20-30 million. This capital will be used to expand its sales ne twork, as well as to make best use of its real-estate, which is estimated to be worth zł. 16-20 million. To develop the land, the company will need appr oximately zł. 60 million. Modena has a 100-year tradition. Transformed from treasury-owned ZPO Modena, it underwent privatization and currently has a s everal percent share of the coat and jacket market. The company is consider ing the launch of its own branded shops by the end of 2005. (Rzeczpospolita, p. B4) A.Z.