W.Kruk IPO in 2015?
Clothing company Vistula is to decide by the end of May whether to shed its jewellery arm, W.Kruk and float it on the Warsaw Stock Exchange.
“Any eventual IPO would take place next year,” Vistula’s CEO Grzegorz Pilch told the PAP news agency in an interview.
The announcement comes as the company is working on new acquisitions, with plans to open 16-18 new branches of the clothing store and as many as 14 franchise stores this year.
“Our group is diverse, and investors like orderly retail businesses … Floating W.Kruk and raising capital would be an interesting move,” Pilch said, adding that for Vistual investors it would mean a rise in the group’s value.
The total capital expenditure of the Vistula group is expected to reach PLN 8 million this year, amounting to 2 percent of sales revenue in 2013.
