Wittchen to enter WSE

Polish premium footwear and clothing group Wittchen is going to hold initial public offering (IPO) and enter the Warsaw bourse, as part of its expansion plans into foreign markets in the e-commerce sector, a company press release read. "We are going to develop our sales abroad, in terms of new markets, mainly in the e-commerce field. With regard to that, we are planning to conduct a public offering of shares and debut on the Warsaw Stock Exchange. Arrangements are advanced, however the final decision will be up to, among others, a positive evaluation of conditions in the market," said Jędrzej Wittchen, the CEO at Wittchen. Last year, the company's sales revenue reached PLN 130.5 million, thus recorded a 50 percent increase on a yearly basis.