W.Kruk to issue 687,000 shares in as it enters the Warsaw Stock Exchange

W. Kruk, the luxury goods company is to be listed on the Warsaw Stock Exchange (WSE) in the first half of July, while the public issue of shares is planned for June. The jewelry company from Poznan, will be the first producer of luxury goods to be quoted on the WSE. It is going to issue 687,000 shares, 200,000 of which will be for individual investors. Company president Jan Rosochowicz, intends to use the capital raised from the issue on opening new stores and launching new brands. Last year the company yielded a net profit of zl. 800,000, with a revenue of zl. 92 million. According to consolidated estimates for this year, sales will reach zl. 115.2 million, while operating profit will exceed zl. 7 million. The company's main shareholders are Enterprise Investors, which owns 52% of its capital, the Kruk family who controls 43%, leaving company directors with 4.5% of shares. (Puls Biznesu, p. 7) K.S.