PS24 to enter NewConnect

PS24, a subsidiary of the NewConnect-listed Merit Invest investment fund plans to debut on the small-cap, alternative NewConnect market, either this year or in 2019, the company said in a market filing. The company would be listed under Parkett Service brand and plans to pay out dividends, the company announced. “The company is currently concentrating on legal acts aimed at financing PS24 and then transforming it into Parkett Service. Moreover, after conducting a proper valuation of the business, the company is in talks with financial and private investors. The PS24 board also intends to commercially market the IT system for multi-department and franchise sales management,” the statement said. “Current shareholders plan to build a business worth some PLN 70 million by 2023,” company’s CEO Karol Gajewski said. PS24 is a producer of wooden floors and panels.