Mounting the WSE
The company expects to gain zł.65-75 million from the public offering. Investors are attracted by the steady growth of its consolidated sales, from 11 percent to 52 percent year-on-year since 2001. Net profits this year are forecasted at zł.21.7 million. According to Koelner S.A. estimates, it currently occupies 18 percent of the construction-mounts market in Poland and 5 percent in the CEE. President of the board Radosław Koelner sees export to the CEE region as a crucial part of his firm's activity. It has already reached 35 percent of total sales.
The company, founded over 20 years ago, still remains in the hands of the Koelner family. President of the board Radosław Koelner promises that the original owners will not sell their stock for at least 12 months after the debut on WSE. The majority of shares will remain under family control to ensure stability in the long-term.
Market analysts believe that the end of 2004 is a favorable time to enter the public market. Because investment funds still have the resources, they are willing to buy.
"In three months time the money currently in investment funds could dry out," says equity analyst at Deutsche Bank Securities Renata Klita. That is because financial institutions have a lot in which to invest during that time, such as the enormous public offering of PKO BP.
Klita claims "small investors have to recognize the brand. This is fundamental."
Will Koelner, little known to the average customer, attract the expected attention among individual buyers?
Vice-president of Koelner SA. Tomasz Mogilski dismisses this doubt.
"We are present in retail supermarkets, and sell exclusively under our own logo. Individual customers know our company," he says.
The company, founded over 20 years ago, still remains in the hands of the Koelner family. President of the board Radosław Koelner promises that the original owners will not sell their stock for at least 12 months after the debut on WSE. The majority of shares will remain under family control to ensure stability in the long-term.
Market analysts believe that the end of 2004 is a favorable time to enter the public market. Because investment funds still have the resources, they are willing to buy.
"In three months time the money currently in investment funds could dry out," says equity analyst at Deutsche Bank Securities Renata Klita. That is because financial institutions have a lot in which to invest during that time, such as the enormous public offering of PKO BP.
Klita claims "small investors have to recognize the brand. This is fundamental."
Will Koelner, little known to the average customer, attract the expected attention among individual buyers?
Vice-president of Koelner SA. Tomasz Mogilski dismisses this doubt.
"We are present in retail supermarkets, and sell exclusively under our own logo. Individual customers know our company," he says.
