Work Service plans major shares issue for international investors

Employment agency Work Service is planning to issue 5.9 million shares in a private issue, daily Puls Biznesu wrote. The firm’s share price soared by 70 percent over the course of a year, and by 200 percent over the past two years. It now stands at PLN 18.6, a historic high, which means that the issue could bring as much as PLN 100 million. The shares are to be sold mainly to international investment funds. “We’ve been on a road show abroad three times this year and funds expressed a lot of interest. Their declarations significantly exceeded the number of shares traded publicly,” Tomasz Misiak, co-founder and the president of the supervisory board told the daily.

The firm’s shareholders will make the decision about the issue at an EGM on October 20.