NFI Hetman looks for funding from floor to finance further expansion

NFI Hetman, a domestic retailer, has announced plans to raise more cash from the bourse, either in the fall or Q1 2005, to finance its expansion strategy and a spree of acquisitions. Maciej Dylas, the firm's president, estimates that the company needs about EUR 10 million for takeovers and up to EUR 15 million to enlarge its existing business. The company, which is controlled by the Eastbridge Group, is likely to change its name to NFI Empik Media and Fashion this August. The company, which owns the Empik music and media outlets, the Domy Towarowe Centrum department stores and several smaller retail chains, posted a zł.1.3 billion profit in 2003. And while Dyjas refuted claims the company has entered talks concerning the privatization of Ruch, he did not deny that the said press distributor would sit well among NFI Hetman's portfolio. Furthermore, he did not rule out the possibility that the company might be interested in taking Ruch over in the long term. (Parkiet, p. 4) J.J.