Polwax plans IPO at WSE

Polwax, a paraffin and wax producer plans an initial public offering at the Warsaw Stock Exchange, the Polish Press Agency reported on Thursday. The company will offer up to 3,819,965 shares (roughly 40 percent of all shares of the company). The IPO may be carried out between Q3 and Q4 of 2014. The offer will encompass shares sold by Krokus Chem, Dominik Tomczyk, Iwar Przyklang, Vataro Holdings Ltd and Patrycja Stokłosa and will be directed toward different types of investors. Stockbroker Dom Maklerski mBanku will be the offerer in the IPO process and will coordinate the offering, as well as the book building. The financial advisor will be mCorporate Finance, the legal advisor will be Gessel, Koziorowski Sp.k. law firm. In 2013 Polwax noted a sales revenue of PLN 241.1 million, EBITDA PLN 27.5 million, EBIT PLN 24.9 million and net profit PLN 20 million.