Sunset Suits prepares to enter the Nasdaq

The company is still awaiting final permits from US supervisory bodies. Although the management of Sunset Suits confirmed these plans, no details concerning the IPO were revealed, due to the obligation of maintaining confidentiality until all procedures are completed. However, Puls Biznesu has leant that Sunset Suits first plans to be listed on the OTC market and then to enter the Nasdaq in March 2008. Initially the company plans to issue shares worth USD 9 million. The value of the whole corporation is estimated at USD 39 million, which translates into 23% of the capital being listed. Sunset Suits plans to use the funds to develop its sales network with the aim of doubling its number of stores within three years. Company representatives also claim that this move will allow them to increase turnover by 94% and net profit by 380%, from the current zł.7 million to zł.23.7 million. (Puls Biznesu, pp. 1, 6) A.K.