Rainbow Tours hopes to raise zł.24 million from its IPO

The company wants to find zł.24 million from the IPO which it will spend on raising the capital of its Ukrainian subsidiary and Wyruszamy.pl, its internet portal, as well as on expanding its network of outlets in Poland from 22 do 32-34 in a year's time. An acquisition of a smaller domestic rival is also possible, RT CEO Grzegorz Baszczyński said. RT expects to make a net profit of zł.4.2 million this year on sales of zł.143 million, up from zł.3.5 million and zł.110 million last year, respectively. (Parkiet, p. 8) R.M.