Opoczno's holiday delay
Just as it was expected to reveal the price range of its shares, Opoczno SA - the top Polish ceramic-tile producer - announced last Tuesday that it had postponed its IPO.
When asked about the reasons for the delay, Ryszard Wojtkowski, a partner from Enterprise Investor, one of Opoczno's shareholders, explained: "We need more time to find out to what extent the debut of natural gas monopoly PGNiG will change the situation on the bourse. Moreover, while planning the offering we didn't take into account the Corpus Christi holiday and although my American colleagues were very astonished with such a justification for the delay, we can't ignore the specificity of the Polish market."
The new date is to be announced next week. Opoczno SA's PR manager, Monika Chmielewska said: "The delay in our WSE debut is not going to influence the company's operation. All our plans presented earlier are still valid."
Opoczno, with a market share of about 26 percent, will be the fourth ceramic-tile producer listed in Warsaw after Cersanit, Ceramika Nowa Gala and Polcolorit. Ninety-nine percent of the company is held by venture capital fund Enterprise Investors and Credit Suisse.
When asked about the reasons for the delay, Ryszard Wojtkowski, a partner from Enterprise Investor, one of Opoczno's shareholders, explained: "We need more time to find out to what extent the debut of natural gas monopoly PGNiG will change the situation on the bourse. Moreover, while planning the offering we didn't take into account the Corpus Christi holiday and although my American colleagues were very astonished with such a justification for the delay, we can't ignore the specificity of the Polish market."
The new date is to be announced next week. Opoczno SA's PR manager, Monika Chmielewska said: "The delay in our WSE debut is not going to influence the company's operation. All our plans presented earlier are still valid."
Opoczno, with a market share of about 26 percent, will be the fourth ceramic-tile producer listed in Warsaw after Cersanit, Ceramika Nowa Gala and Polcolorit. Ninety-nine percent of the company is held by venture capital fund Enterprise Investors and Credit Suisse.
