Pfleiderer Grajewo to acquire parent company and enter WSE in 2015

Polish chipboard maker Pfleiderer Grajewo is aiming to conduct a reverse takeover of its parent company, Pfleiderer GmbH and consequently debut on the WSE later this year, a press release read. In order to acquire its parent company, Grajewo needs to raise funds, that is why it will issue 40 million new shares and possibly existing shares owned by Atlantik. The offer is to reach some PLN 920 million. Grajewo said it plans to finalize the transaction by the end of 2015. Under the new ownership structure, Grajewo would be dominated by Polish investors, mainly investment and pension funds, effectively ending German control.